and Human-related factors affecting private real estate project implementation success in South-East Nigeria
FEATURED PAPER
By Christian Osita Ifediorai, Charles Chukwunwike Egolumii and Fidelis Ifeanyi Emohiii
iDepartment of Estate Management, Ajayi Crowther University Oyo, Oyo State
ii & iiiDepartment of Estate Management, Nnamdi Azikiwe University Awka, Anambra State
Nigeria
ABSTRACT
Implementation of private real estate project over time has been associated with failures and has been a growing concern which calls for solution. To effectively tackle this, this study assessed human-related factors and human resources management (HRM) practices affecting private real estate project implementation success in South-East Nigeria. It identified the variables that make up each of human-related factors and HRM practices and determined the extent they affects implementation success. The study is more of descriptive and descriptive analysis was used to summarize the data collected. The study population includes the firms of professionals involved in real estate projects. The results indicated that nature of clients’ means of funding highest while wrong recruitment and selection practice were ranked highest respectively. It was also discovered that identified factors affects private real estate projects implementation success to a great extent. The study recommended that high ranked factors must be taken seriously especially when implementing private real estate projects, this is necessary to ensure that private real estate projects are successfully implemented and cases of failure minimised to the barest minimum.
Keywords: Factors, HRM practices, Human-related, Private real estate, Project implementation success.
INTRODUCTION
Failure to successfully implement most real estate projects has become a concern to the stakeholders especially the professionals in the built environment. This failure has continued to manifest in form of collapse or abandonment. Abandoned and collapsed private real estate projects are typical fall out of unsuccessful projects and they abound in South East Nigeria. It is worthy to note that there are cases of failed private real estate projects in almost all the states in the South East Nigeria. More disturbing is reports by Nwachukwu and Emoh (2011), who asserted when there is a challenge of building development failure, abandonment or collapse, everyone looks up to the engineers who in their professional pride and personality ego accept the blame but could not find solutions the menace. Some studies have identified several factors which affect real estate projects implementation success but the extent to which these factors affect implementation success is not yet known from the point of view of the professionals neither has there been emphasis on human-related factors and human resources management practices. It is worthy to state there is dire need to take cognizance of these identified factors which will serve as a guide in successful execution of private real estate projects, yet there still exist cases of unsuccessful private real estate projects in the study area. This was confirmed by Nzekwe, Oladejo and Emoh (2015), which noted that the real estate sector of Nigerian construction industry is dotted with too many cases of failed, abandoned or uncompleted projects. Nwachukwu and Emoh (2011) stated that the case of failure, abandonment and collapse of real estate projects is prominent especially in developing economies, incidentally the states under study falls under a nation that is categorised under a developing economy. Sadly too, there are still abandoned projects defacing the landscape and recurring cases of collapse of real estate projects in Abia, Anambra, Enugu, Ebonyi and Imo, these could be attributed to a number of factors amongst who are human-related and human resources management practices. It is believed these identified factors are the reasons why states like Anambra, Enugu, Imo, Abia and Ebonyi have witnessed cases of private real estate project failures in the time past and even now.
To ensure that private real estate projects are successfully executed, there is need to assess the identified factors that affect real estate projects implementation success in South East Nigeria by determining the extent they affects implementation success, this is expected to be the right step in the right direction towards curbing these reoccurring cases and ultimately ensure success in implementation of private real estate projects in the study area. This study specifically looks at the problems from the perspectives of professionals; how the identified factors affect implementation success and the extent the identified factors affect private real estate projects implementation success.
This study aims is to assess the human-related factors and human resources management practices and related factors that affect private real estate projects implementation success in South East Nigeria with a view to ascertaining the extent of their impact on project success. It identified the variables that make up human-related factors and human resources management practices. It ranked the impacts of the identified factors that affect private real estate projects implementation success and as well determined the extent the human-related factors and human resources management practices affects private affect private real estate projects implementation success in the study area.
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How to cite this paper: Ifediora, C. O., Chukwunwike, C., Emoh, F. I. (2020). Human resources management practices and Human-related factors affecting private real estate project implementation success in South-East Nigeria; PM World Journal, Vol. IX, Issue IV, April. Available online at https://pmworldlibrary.net/wp-content/uploads/2020/03/pmwj92-Apr2020-Ifediora-Egolum-Emoh-human-factors-affecting-real-estate-projects.pdf
About the Authors
Christian Osita Ifediora
Oyo State, Nigeria
ESV Christian Osita Ifediora, B.Sc. (Estate Management), M.Sc. Estate Management (Project Management), ANIVS, RSV, is Lecturer in the Department of Estate Management, Faculty of Environmental Studies, Ajayi Crowther University, Oyo, Oyo State, Nigeria. Mr. Ifediora can be contacted at ositaifediora@gmail.com.
Charles Chukwunwike Egolum
Awka, Nigeria
Prof. Charles Chukwunwike Egolum, B.Sc. M.Sc. Ph.D. (Estate Management). M. Sc. (Business Administration), FNIVS, RSV, is Professor of Estate Management with specialization in Valuation and Appraisal in the Department of Estate Management, Pioneer HOD (Estate Management) at Nnamdi Azikiwe University in Awka, Nigeria and former Dean Faculty of Environmental Sciences.
Fidelis Ifeanyi Emoh
Awka, Nigeria
Prof. Fidelis Ifeanyi Emoh, B.Sc. M.Sc. Ph.D. (Estate Management). PGD, MBA (Banking and Finance), FNIVS, RSV, MNIM, FIMC, CMC, is a Professor of Real Estate and Valuation in the Department of Estate Management at Nnamdi Azikiwe University in Awka, Nigeria.
