PROJECT COST PLANNING AND PERFORMANCE OF HOUSING PROJECTS IN KENYA
PROJECT COST PLANNING AND PERFORMANCE OF HOUSING PROJECTS IN KENYA
Charles Muiruri Wanjau - Jomo Kenyatta University of Agriculture and Technology, Kenya
Prof. Gregory Nasimiyu Namusonge - Jomo Kenyatta University of Agriculture and Technology, Kenya
Dr. Benard Lango - Jomo Kenyatta University of Agriculture and Technology, Kenya
ABSTRACT
This study sought to determine the influence of project cost planning on the performance of housing projects in Kenya. This study adopted a descriptive research design. The target population was 675 building construction stakeholders; Project Managers, Engineers, Architects, contractors, and site supervisors drawn from 135 housing projects within Nairobi Metropolitan. The study made use of primary and secondary data. Structured questionnaires and Interviews were used to collect both quantitative and qualitative data. Pilot testing was done to test the validity and reliability of the research instrument. The Data was analyzed using the Statistical Package for Social Sciences (SPSS); descriptive statistics mainly percentages, frequencies, means & standard deviations and inferential statistics mainly the regression analysis. The descriptive results showed that project cost planning influenced the performance of housing projects in Kenya. The study concluded that, project cost planning is important in the performance of housing projects in Kenya. This is because cost planning allows accurate budget estimation, informed decision making, efficient resource allocation, cost control, risk management, and effective stakeholder management. By having a well-planned cost structure, construction of housing projects can be executed within budget, avoid financial risks, and achieve desired outcomes. The study recommended that Policy on cost management should be adopted which encourages the use of standardized cost management tools and require regular cost reporting to monitor and manage project expenditures. These guidelines are for effective cost estimation, budgeting, and control for housing projects.
