INVESTIGATING THE POTENTIALS OF FAST TRACK IN MITIGATING PROJECT ABANDONMENT: CASE STUDIES
Journal Title: Manager Journal - Year 2011, Vol 14, Issue
Abstract
The construction industry plays a very role in the fixed capital formation of any economy. Thus, the activities of construction in any economy, mirrors its general performance; a healthy economy usually experiences an upward swing in construction activities and a depressed economy indicates the reverse. But, project abandonment has been posing a threat to so many countries in their march towards the achievement of the above economic independence and greater civilization, and Nigeria is no exception. We have road and other construction projects that have taken ages in building, whose completion date is only in the imagination of the gods. Governments succeed governments and waste many months reviewing contracts and on-going projects, and re-awarding contracts. The ritual has come to stay and public funds are sunk into projects whose viability, usefulness, and urgency remain doubtful; then they are abandonment. However, majority of project abandonment could be traced to longer project duration. This is because the longer the duration of a project the more additional costs to the project through variations, inflations, and other expenses associated with time (time related to expenses). Time consumed by project directly influence the cost incurred on a project. When these traditional costs are too much, they lead to the client’s budget for the project to be exceeded. And when clients can no longer entertain those additional costs, it becomes a subject of disputes, and eventually the project is abandoned. As such, there is the need for the construction industry participants to embrace an efficient and effective means of minimizing projects’ duration in order to minimize the occurrences of project abandonment; and Fast Track procurement method is one good project management tool that have been in used to meet these challenges of time and cost.
Authors and Affiliations
Amir Hassin B. Baharuddin, Abdel Hamid Kadir Pakir, Abdelnaser Omran, Ibrahim Ado Wudil
Keywords
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