PROJECT COST MANAGEMENT PRACTICES AND PERFORMANCE OF NON-GOVERNMENTAL FUNDED PROJECTS IN NAIROBI CITY COUNTY

Vincent Onyango Alwanda, Dr Annastacia Musembi

Abstract


This study aimed to investigate the influence of project cost management practices on the performance of Non-Governmental Organizations (NGOs) operating within Nairobi City County, Kenya. NGOs play a crucial role in addressing societal challenges, particularly in developing countries like Kenya, where they often operate with limited financial resources. Effective cost management practices are vital for ensuring the successful execution of projects and maximizing the impact of NGO interventions. The proposed study employed a mixed-methods approach, combining quantitative analysis and qualitative inquiry to comprehensively explore the relationship between project cost management practices and NGO performance. Quantitative data was collected through questionnaires and face-to-face interviews administered to a sample of NGOs in Nairobi City County, utilizing stratified random sampling techniques. The study highlights that accurate budgeting provides a solid financial foundation for project planning and execution, while precise cost estimation enables better resource allocation and risk management. Effective cost reporting and tracking also play a role in maintaining financial transparency and accountability. The study recommends that NGOs should adopt and standardize rigorous cost estimation techniques to enhance the accuracy of their financial forecasts. NGOs are encouraged to develop comprehensive budgeting frameworks that align with their project objectives and financial constraints. To ensure effective management of project finances, NGOs should establish robust cost control mechanisms.

Keywords: Budgeting, Cost Control, Project Performance


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References


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