Impact of Construction Project Planning on Contractor’s Profit

Abstract

Abstract Planning is very crucial and important for any activity to be executed to know beforehand the nature of the task, risk and the resources that will be required in order to attain the objectives of the organization. Planning in the construction industry involves establishing the most effective sequence of events necessary to accomplish a project as well as the allocation of resources in a way that could guarantee the effectiveness of the construction firm. The aim of this research was to evaluate the impact of construction project planning on Contractor’s profit in the Nigerian construction industry. The research reviewed what planning in the construction industry entails as well as the effects of planning in the construction industry. Qualitative and Quantitative research method was adopted in carrying out the research work. Interview was carried out to gather necessary information from respondents after which well-structured questionnaire was used to validate the information gathered from the interview conducted. The professionals for this research work were mainly Quantity Surveyors, Builders, Engineers and Architects. From the survey conducted, the result revealed that there is a relationship between construction planning and the profit a contractor makes on a particular construction project. It was also observed in the result of the study that well-planned contract reduces waste on the construction site, ensure efficient use of labour workforce, aids completion to time, cost and quality which will eventually improve the contractor’s profit.