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Project monitoring and successful implementation of projects in Nigeria

Project is a common concept used in daily conversation by individuals and groups. But defining a project is not an easy task. One eclectic definition sees project as a “planned undertaking of a set of integrated and coordinated activities designed to achieve some declared objectives within a given budget and period of time" for Lawal and Onohaeb (2010) "a project is an interrelated set of non-repetitive activities that has definite starting and ending points which result in a unique product." Some elements of a project can be drawn from the above definitions. These include: goal orientation, a time frame for commencement and conclusion; a coordinated approach to dealing with it, a particular set of challenges and output that are measurable”. Okebubugwu (2014).

Project Monitoring is distinct from both project management and construction monitoring, and can be defined as protecting the client’s interests by searching critically, conducting due diligence and advising on the risks associated with acquiring an interest in a development that is not under the client’s sphere of influence. The term project monitoring has been used to describe this service which is also referred to as development monitoring or acting as the bank’s/funder’s/tenant’s surveyor as well as a number of other industry terms associated with the definition.

Project monitoring is carried out on behalf of a range of alternative client types including, for example: a funding institution, which will acquire the scheme as an investment upon completion; a tenant or purchaser which enters into a commitment to lease or purchase a property upon completion; a Bank or other development finance company where a loan matures at the end of the development period; grant funders; or private finance initiative funders and end users. (RICS)

The poor performance of public utility services in Nigeria has been a subject of considerable discussion (Ariyo and Jerome, 2004). The inadequacy and continue deterioration of Nigeria infrastructure pose acute challenges to Nigeria leadership of Africa. It is of utmost importance to government, business, and the public at large that the flow of services provided by nation’s infrastructure continues unimpeded in the face of a broad range of natural and manmade hazards (Little, 2007). The United States has acutely aware of the importance of civil infrastructures and their criticality to the nation’s economy and quality of life (Baker, 2007).

The consequences of infrastructure failure can range from benign to the catastrophic. The geographical location favors Nigeria from exposure to catastrophic failure from natural hazard such as tsunamis, earthquake, landslides, hurricane, etc. However, the nation is grasping with the benign consequences of gradual deterioration of infrastructure. The manifestation is the deepening poverty, reduce production and reduce life expectancy, eroding patriotism, corruption and public discontent. (Okeola 2012)

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Independent Project Monitoring Company Limited (IPMC)

Independent Project Monitoring Company Limited (IPMC) is a professional consultant specializing in the petroleum refining, pipelines and terminals, gas processing, petrochemicals industries, Assurance, Taxation, Human Capital Development Projects and Advisory services to meet...

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Independent Project Monitoring Company Limited (IPMC) consists of professionals who specialize in infrastructure and building, oil & gas industry and other sectors. Our capabilities and responsiveness to individual needs are our strengths. Our consultants have a strong record of operational and commercial accomplishments in the industry.

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