ASSESSMENT OF FACTORS AFFECTING CONTRACTORS PROFIT IN CONSTRUCTION PROJECTS IN SOUTH EAST NIGERIA
  • Author(s): OKEREKE JOEL ALAGBOSO
  • Paper ID: 1701676
  • Page: 69-78
  • Published Date: 12-10-2019
  • Published In: Iconic Research And Engineering Journals
  • Publisher: IRE Journals
  • e-ISSN: 2456-8880
  • Volume/Issue: Volume 3 Issue 4 October-2019
Abstract

A lot of contractors have suffered untold hardship sometimes resulting to untimely death due to construction losses, failures, and insolvency as collaterals are disposed in order to settle loans. This research work is aimed at assessing the factors affecting profitability of contractors in construction projects in the South Eastern part of Nigeria with a view to establishing indebt measures to improve the situation. Among the specific objectives to achieve this aim is identifying and assessing the significant factors affecting contractor?s profit. Through literature, a total of 66 factors were identified and grouped into 4 sub-groups. Respondents include clients, consultants and contractors, completed a closed-ended questionnaires and were required to rank the factors on a Likert scale of 1 to 5, negative impacts. The simple descriptive and frequency analysis were used to analyze the data obtained using SPSS. The total mean, standard deviation, standard error of each of these grouped factors were generated and each of the factors as adequately ranked. The study concludes that, government policies and instability in the economy are the key factors that affect contractors profit negatively since they always put pressures on cost of materials and labour as a result many contractors hardly recover all the cost incurred and recommends that construction organizations should analyze profitability at the onset before embarking on the project. It is only by ascertaining the expected profitability and risk involved that they would be able to achieve the target

Citations

IRE Journals:
OKEREKE JOEL ALAGBOSO "ASSESSMENT OF FACTORS AFFECTING CONTRACTORS PROFIT IN CONSTRUCTION PROJECTS IN SOUTH EAST NIGERIA" Iconic Research And Engineering Journals Volume 3 Issue 4 2020 Page 69-78

IEEE:
OKEREKE JOEL ALAGBOSO "ASSESSMENT OF FACTORS AFFECTING CONTRACTORS PROFIT IN CONSTRUCTION PROJECTS IN SOUTH EAST NIGERIA" Iconic Research And Engineering Journals, 3(4)