Cost Management and Implementation of Construction Projects in Elgeyo Marakwet County, Kenya
Keywords:
Construction projects,, cost management,, cost overrun,, project funding,, project implementation.Abstract
A project is believed to have been successfully implemented if it is accomplished on time, within the budget and with excellence that satisfies customers’ expectations and needs. Most construction projects have experienced cost and time overruns during the implementation process. Globally, timely implementation of projects according to budget is considered a shortcoming and a major risk in implementation of construction projects. In Kenya, construction projects continue to witness cost overruns, time overruns, reworks and customers dissatisfaction that has resulted into poor implementation of construction projects, at least according to the evaluation of the customers. The objective of this paper was to investigate the influence of cost management on implementation of construction projects in Elgeyo Marakwet County and draw recommendations on management of the influencing factors. The specific objective was to determine the influence of technical imprecisions costs management on implementation of construction projects in Elgeyo Marakwet County.This paper is organized into various sections where section one provided the introduction, section two gives the scope of the study and literature review on the cost’s factors influencing the implementation of construction projects both on theoretical review and empirical review. Section three provides the methodology employed in the study; the study findings and their interpretation are presented in section four, while section five has conclusions and recommendations of the study and the policy implications.
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