ECONOMIC DEVELOPMENT AS A FUNCTION OF CONSTRUCTION PROJECT PERFORMANCE
Abstract
Poor performance of construction projects is one of the major causes of concern in the construction industry. Many construction projects in Nigeria face challenges ranging from simple to complex. Therefore, this paper examines the factors that affect the performance of construction projects, their impact on economic development, and the impact of factors on the economic development of the country. Through an extensive literature review that underlies the survey, the study identified a number of factors that could influence project performance. A total of 200 questionnaires were self-completed by Nigerian construction industry professionals, 148 of which were retrieved and deemed suitable for analysis. According to the survey results, the most important factors affecting project performance are:
Project design costs, project complexity, resource unavailability, equipment and raw material quality, as well as on-time completion, customer satisfaction and productivity were considered key indicators of construction project performance. . Technological improvement and infrastructure expansion were the most important indicators of economic development. Project owners are encouraged to work with all professionals involved in the execution of construction projects to achieve good performance. Furthermore, construction industry stakeholders, incl