The strategic importance of building as an economic facility, the construction or developmental process and its investment potential are some attributes that attract all sectors of the economy to its projecting rays. Building facility is like a catalyst that not only serve as an engine that energies every other sector of the economy but gives impetus to the developmental rating of the environment. We know that all business activities for both public and private sector are housed in a structure called building, production activities, medical and health care, agro based activities, educational activities, political activities, sports, transport sector to mention a few cannot operate proficiently without having direct or indirect need for housing facility. The production of building facility as we refer it to building construction or developmental process attracts professionals from all fields of life and non professionals. Not only that, housing development employment cut across all categories of human endeavor. Building material production, marketing, distribution, supply, storage has a long and strong chain like impact on the economy as we know in commerce that production is not complete unless the products get to the hands of the final consumers. The income generated by way of receiving wages and salary, buying and selling by people within and outside the country contributes positively to the world economic growth. The investment attraction of building development by public and private sectors of the economy anchor on its indispensable and strategic importance as a solid rock of support and strength to all sectors of the economy. To the estate surveyor and Valuer, more than eighty percent of our professional activities revolves around building facility. To this end, any effort to encourage investment in building facility should be seen as a step in the right direction. One of the steps which form the main focal point of this paper is making sure that building developments are project managed to achieve success thereby reducing the rate at which building construction projects fail, suffer abandonment and reduce if not eliminating the rate at which buildings collapse in Nigeria.
This study examines and analyses the variation factors of project plan and their contributions to project failure. The slippage of project plans with respect to budget, schedule and quality specifications are indicators of poor performance and imminent failure. The primary data used for the study were captured by field survey on some construction firms based on their experience and perceptions on the subject matter. The methods of multiple regression and correlation analyses were the analytical tools used for the data analysis and statistical test of hypotheses. The results of the analyses indicate that design errors, management problems and resource delivery constraints are the significant variation factors of plan that contribute significantly to project failure. The study therefore recommends evaluation of design effectiveness, prior to project implementation, adoption of material requirements planning principles, and institution of corporate policy for periodic and comprehensive human resources development programmes.
The bane of real estate development and investment is finance. There is no iota of doubt that funding is the important factor in real estate development and investment. The complexity and to a large extent its capital intensive nature demands proper and adequate funding to make it realizable. The terms and availability of the needed funds determine the trend of estate operation. Availability of estate finance in sufficient quantity will definitely accelerate all forms of property development.
In the real estate sector of the national economy land racketeering and property double selling have risen to a higher level due to activities of malicious land agents and those that abetted their dubious activities within the government. In this paper a Blockchain of Real Estate and Landed Property transaction ledger system is developed to record property transactions in a distributed ledger that makes double dealing by the criminal land agents impossible. This will prevent the selling of properties to more than one person by land agents and double dealers and will publish transactions in a public ledger in a transparent way. The system is designed using object-oriented analysis and design methodology and the Blockchain was built directly from the cryptographic system. The result of the system development show that the system was able to produce crypto blocks which can be mined and stored in the chain to both produce the data and the reward system for the real estate industry to use in protecting itself from double dealing and from the criminals. The work is implemented using public key cryptography and Python programming language. The system will bust the real estate sector and bring to minimum the malicious activities of the land agents and their collaborators who commit crime by swindling unsuspecting land buyers and property developers of their fund by double selling and dealing on properties that does not belong to them.
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