ADDING VALUE TO PROPERTY DEVELOPMENT THROUGH PROJECT MANAGEMENT

ADDING VALUE TO PROPERTY DEVELOPMENT THROUGH PROJECT MANAGEMENT

Author by Dr. Uchenna Ebi

Journal/Publisher: Journal Of Real Estate Economics

Volume/Edition: 1

Language: English

Pages: 25 - 31

Abstract

development in preference to matrix or line management  organisations is bound to improve the project outcome. The  study examined various causes of project failure in property  development and proffered solutions to these through pure  project management. The study examined actions taken  during the implementation of property development of  Nigerian Institution of Estate Surveyors & Valuers (NIESV)  building at Alausa, Ikeja. It is action research, drawn from  the researcher's participation during the implementation of  the project. Project had schedule, budget and scope overruns  but succeeded in terms of overall goal of the project owners,  which was to own a building of their own. Causes of failure  were identified as mistrust and suspicion, sectionalism, lack  offunds, contractor's delay, call for cube test, and change of  leadership at .the national level. Recommendations were  made on keeping to agreed terms, use of experienced  property managers and use of pure project management  function in place of matrix organisations in order to succeed  in future projects and also preserve the life of the building.


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