Integrating Project Management Techniques in Property Acquisition and Development
DOI:
https://doi.org/10.11113/intrest.v20n1.448Keywords:
Project management techniques, Property development, Project performance, Valuation outcomes, Real estateAbstract
The study investigates the adoption of Project Management Techniques (PMT) in property acquisition and development and their effects on project performance and valuation outcomes in Nigeria. A quantitative design was employed, using structured questionnaires administered to 102 real estate professionals. Data were analysed using descriptive statistics, Pearson’s correlation, and regression analysis with SPSS. Reliability testing yielded a Cronbach’s alpha of .889, confirming high internal consistency. Results showed that cost management tools (M = 4.24, SD = 0.88) and risk management frameworks (M = 4.12, SD = 1.14) were the most frequently adopted PMT, while Gantt charts recorded the lowest adoption (M = 3.29, SD = 1.18). Correlation analysis revealed significant positive relationships between PMT adoption and project performance (r = .589, p < .001). Regression analysis demonstrated that PMT adoption significantly predicted valuation outcomes, β = 0.48, SE = 0.08, t (100) = 5.96, p < .001, 95% CI [0.32, 0.64], explaining 26.2% of the variance (R² = .262, adjusted R² = .254). The study concludes that the integration of PMT enhances project delivery efficiency and valuation accuracy in Nigeria’s real estate sector. Wider professional training, institutional support, and policy implementation are recommended to strengthen PMT adoption.
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