The Effect of Project Cost Management on Project Success: The Case of Selected Real Estates in Addis Ababa

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Date

2021-03-04

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Addis Ababa University

Abstract

The main objective of this research is to determine the effect of Project Cost Management on Project Success on selected real estates in Addis Ababa. While the Project Cost Management processes measured by Plan Cost Management, Estimate Costs, Determine Budget, and Control Costs. The Project Success dimension was measured by cost. Thus, the research focused on real estate companies found in Addis Ababa namely Sunshine Real Estate, Country Club Developers, Gift Real Estate, Pluto Real Estate, Noah Real Estate, and Metropolitan Real Estate. A quantitative research approach has been used to statistically determine the effect of Project Cost Management on Project Success. Primary data collected through a questionnaire that has been designed systematically and it was distributed among respondents working in the randomly selected Real Estates companies. Descriptive statistics were applied to examine the effect of the Project Cost Management (the independent variables) on Project Success (the dependent variable). The result shows that Plan Cost Management, Estimate Costs and Control Costs have high effect on Success of the projects. However Determine Budget No effect on Success of projects. Generally, this implies that Project Success can be improved via improving Project Cost Management practices within the selected Real Estate companies.

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Keywords

Project cost management, Project cost planning, Cost estimation, Determining Budget, Cost controlling, Project Success

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