Factors Influencing Project Completion in the Housing Construction Industry, Nairobi County
The property development industry greatly impacts on a country’s growth and development. It is an industry that contributes generously to the gross domestic product of a nation both directly and indirectly. Property development employs a huge proportion of the population and this includes both skilled and unskilled labour and spurs growth in many and other sectors of the economy. The study focused on four factors that have a great influence on the successful completion of property development projects: project management, finance, consultants and the contractor. The study aimed to establish how each of these factors influences project completion. The study also aimed at finding out whether the following targets of project management i.e. time, cost and quality have any importance on the completion of property development project. The research relied both on primary and secondary data. The population was stratified into three with each group of respondents handling different responsibilities in the project. Primary data was collected using both questionnaires and an interview schedule. Secondary data was collected from project reports for different developments. At 95% confidence interval the study findings revealed that there is a weak relationship between budgeted cost and actual cost of successful completion of property development projects at 35%. This implies that the actual costs incurred were greater than the budgeted costs. Also at 95% confidence interval the study findings revealed that there is a weak relationship between target completion time and actual completion time of successful completion of property development projects at 26%. This implies that majority of projects in the property development industry were completed later in time after expiry of their targeted completion timelines. The results of the regression equation showed that for a point increase in the independent variables, successful completion of development projects is predicted to increase by 4.441, given that all the other factors are held constant. The research findings also indicated that there was a very strong positive relationship (R= 0.852) between the variables. It was revealed that 72.7% of successful completion of property development projects could be explained by the factors under study. From this study it is evident that at 95% confidence level, the variables produce statistically significant values and can be relied on explain to successful completion of development projects The study recommends that during project preparation, enough time and resources should be allocated to ensure that adequate field investigation are conducted, appropriate and up to date information is gathered, specifications are prepared, scope is well defined, good estimates on material are made, adequate project analysis is done, and linkages in projects activities are identified. The project manager must appreciate the environment of development projects, maintain flexibility, and be competent to analyze the nature of associated problems and their diverse effects on the success of the project, and address these promptly. Lastly, complex works interfaces should be avoided and works should only be split into packages that can easily be managed.