An Investigation into Project Cost Management Practices on Real Estate Project in Ghana: A Case Study of Sekondi, Takoradi

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Date
November, 2019.
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Abstract
Project cost management practice has become a vital discipline in the modern construction practices in the world over all. The antecedent of its practice and application is perceived by practitioners and researches as vehicle for efficient goods and services delivery in the construction industry. In this perspective, Project cost management practices has been practiced in the Ghanaian Real estate industry since the 1980s; since the first attempt was made, not much has been done in the practical application and regulation of the practice. Moreover, stakeholders appear to be confused of what constitute the project cost management practice and application of project cost management practices in the industry. Today, the adoption of the project cost management practice has extended to the business and manufacturing sector in Ghana. This study sought to identify the challenges and opportunities for effective project cost management practice in the Ghanaian Real Estate Industry (GREDA) by adopting two stages data collection entailing qualitative and quantitative techniques. The qualitative help in identifying eighteen project cost management practices variables that stakeholders believe are posing challenges to good project cost management practices in Ghana. To help understand these factors better, factor analysis was used to analyse the eighteen factors identified. The findings highlighted on five major constraints to the development of PMPP namely: weak project management knowledge base; lack of clearly defined role for project managers; poor procurement management practices; weak institutional framework and poor communication management.
Description
A Dissertation Submitted to the Department of Construction Technology and Management, College of Art and Built Environment in partial fulfilment of the requirement for the Degree of Master of Science in Project Management
Keywords
Management tools,, Project Cost Management Practices,, Ghanaian Construction industry,, contractors,, owners,
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