The construction industry is a very important sector of the Nigerian economy. It contributes significantly to the Gross National Product. Cost overrun is an integral part of the construction industry. It generates in projects financial loss to both contractors and owners (clients). It is an important parameter for success of any project that results to serious sequences. Cost overrun is a chronic problem for tertiary institutions. This is because, it is common for projects not to be completed on time and within the initial project budget. The paper assess the management of project cost overrun, reasons for cost overrun and suggested solutions in selected Public Tertiary Institutions in Lafia Metropolis using Partial Least Squares-Structural Equation Modelling (PLS-SEM). The results show that contractor’s site management related factors has 97.6% effect on cost overrun, followed by non-human resource related factors with an effect of 94.4% on cost overrun. The least was information and communication technology related factors having 75.7% effect on cost overrun. The findings reveal that the PLS-SEM is a model that evaluates a data as a collective entity.
| Published in | American Journal of Applied Mathematics (Volume 5, Issue 4) |
| DOI | 10.11648/j.ajam.20170504.12 |
| Page(s) | 108-113 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2017. Published by Science Publishing Group |
Cost, Overrun, Management, Project, Site
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APA Style
Abam Ayeni Omini, Ogbonna Eric Nnamdi, Nsien Edwin, Nzeako Gladys. (2017). Project Cost Overrun Management in Universities Using Partial Least Squares-Structural Equation Modelling. American Journal of Applied Mathematics, 5(4), 108-113. https://doi.org/10.11648/j.ajam.20170504.12
ACS Style
Abam Ayeni Omini; Ogbonna Eric Nnamdi; Nsien Edwin; Nzeako Gladys. Project Cost Overrun Management in Universities Using Partial Least Squares-Structural Equation Modelling. Am. J. Appl. Math. 2017, 5(4), 108-113. doi: 10.11648/j.ajam.20170504.12
AMA Style
Abam Ayeni Omini, Ogbonna Eric Nnamdi, Nsien Edwin, Nzeako Gladys. Project Cost Overrun Management in Universities Using Partial Least Squares-Structural Equation Modelling. Am J Appl Math. 2017;5(4):108-113. doi: 10.11648/j.ajam.20170504.12
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Download@article{10.11648/j.ajam.20170504.12,
author = {Abam Ayeni Omini and Ogbonna Eric Nnamdi and Nsien Edwin and Nzeako Gladys},
title = {Project Cost Overrun Management in Universities Using Partial Least Squares-Structural Equation Modelling},
journal = {American Journal of Applied Mathematics},
volume = {5},
number = {4},
pages = {108-113},
doi = {10.11648/j.ajam.20170504.12},
url = {https://doi.org/10.11648/j.ajam.20170504.12},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajam.20170504.12},
abstract = {The construction industry is a very important sector of the Nigerian economy. It contributes significantly to the Gross National Product. Cost overrun is an integral part of the construction industry. It generates in projects financial loss to both contractors and owners (clients). It is an important parameter for success of any project that results to serious sequences. Cost overrun is a chronic problem for tertiary institutions. This is because, it is common for projects not to be completed on time and within the initial project budget. The paper assess the management of project cost overrun, reasons for cost overrun and suggested solutions in selected Public Tertiary Institutions in Lafia Metropolis using Partial Least Squares-Structural Equation Modelling (PLS-SEM). The results show that contractor’s site management related factors has 97.6% effect on cost overrun, followed by non-human resource related factors with an effect of 94.4% on cost overrun. The least was information and communication technology related factors having 75.7% effect on cost overrun. The findings reveal that the PLS-SEM is a model that evaluates a data as a collective entity.},
year = {2017}
}
TY - JOUR T1 - Project Cost Overrun Management in Universities Using Partial Least Squares-Structural Equation Modelling AU - Abam Ayeni Omini AU - Ogbonna Eric Nnamdi AU - Nsien Edwin AU - Nzeako Gladys Y1 - 2017/07/13 PY - 2017 N1 - https://doi.org/10.11648/j.ajam.20170504.12 DO - 10.11648/j.ajam.20170504.12 T2 - American Journal of Applied Mathematics JF - American Journal of Applied Mathematics JO - American Journal of Applied Mathematics SP - 108 EP - 113 PB - Science Publishing Group SN - 2330-006X UR - https://doi.org/10.11648/j.ajam.20170504.12 AB - The construction industry is a very important sector of the Nigerian economy. It contributes significantly to the Gross National Product. Cost overrun is an integral part of the construction industry. It generates in projects financial loss to both contractors and owners (clients). It is an important parameter for success of any project that results to serious sequences. Cost overrun is a chronic problem for tertiary institutions. This is because, it is common for projects not to be completed on time and within the initial project budget. The paper assess the management of project cost overrun, reasons for cost overrun and suggested solutions in selected Public Tertiary Institutions in Lafia Metropolis using Partial Least Squares-Structural Equation Modelling (PLS-SEM). The results show that contractor’s site management related factors has 97.6% effect on cost overrun, followed by non-human resource related factors with an effect of 94.4% on cost overrun. The least was information and communication technology related factors having 75.7% effect on cost overrun. The findings reveal that the PLS-SEM is a model that evaluates a data as a collective entity. VL - 5 IS - 4 ER -
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