Alao, O O; Jagboro, G O and Opawole, A (2018) Cost and time implications of abandoned project resuscitation: A case study of educational institutional buildings in Nigeria. Journal of Financial Management of Property and Construction, 23(2), pp. 185-201. ISSN 1366-4387
Abstract
Purpose: This paper aims to determine the effect of the period of abandonment on the final cost and duration of resuscitated tertiary educational building projects as a basis for enhancing the performance metrics of the projects and improving the availability of facilities in tertiary institutions in Nigeria. Design/methodology/approach: A structured questionnaire was administered on 47 professionals involved in the physical development of construction projects in Osun State public tertiary educational institutions to provide primary data for the study. Secondary data relating to initial and final costs, initial and final completion dates, dates of abandonment, period of abandonment, date of re-award, etc. were obtained from selected resuscitated projects. Data were analyzed using relative significance index and regression analysis. Findings: The most significant effects of project abandonment were found to be disappointment of populace and over-stretching of existing facilities. The study showed a directly proportional and an exponential effect of period of abandonment on percentage cost overrun of resuscitated projects, which were represented by yc = −329.755 + 19.545x and yc = 6.1662e0.0506x, respectively. A linear relationship between period of abandonment and percentage time overrun was represented by yt = 0.467 + 0.816x. Research limitations/implications: The fact that the regression equations could not be validated because of paucity of data was identified as a limitation of this study. Practical implications: This study adds to the body of knowledge on abandonment of building projects from a quantitative perspective. Findings have implications for guiding long-term infrastructure development plans in public tertiary educational institutions. Originality/value: Maximum threshold at which abandoned projects may be resuscitated at an economic cost was established as 16 months. Findings further suggest that the economy of new construction would outweigh resuscitation of abandoned projects beyond this period.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | abandonment; cost overrun; projects; tertiary education institutions; time overrun |
| Index terms: | regression analysis, Nigeria, education institution, time overrun, cost overrun, infrastructure development, performance metric, body of knowledge, questionnaire, case study, construction project, secondary data, institutional building, methodology, educational building, abandoned project, duration, abandonment, tertiary |
| Subjects: | Geography, research methods, production management, construction type, statistical analysis, project controls, curriculum development, knowledge management, completion, data collection methods, educational institutions, financial and cost management, infrastructure engineering, performance measurement |
| Topics: | Construction Technology, Engineering Principles, Project Management, Quality Management, Research Practice, Time Control, Cost Management, Education, Geographical Context, Information Management |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here