Practice Based Capability on Financial Management and Cash Flow Forecasting Adoption among Quantity Surveyors in Nigeria

Purpose: Quantity surveyors are responsible for effective financial project appraisal throughout the project lifecycle. However, despite their significance, financial management practices being adopted by quantity surveyors in Nigeria often deviate from theoretical principles and focus more on specific patterns. This creates inconsistencies between planned and actual project outcomes, which threaten successful project delivery in Nigeria. The aim of the study is to evaluate the processes of financial management and cash flow forecasting practiced by quantity surveyors in the delivery of construction projects in Nigeria.

Methods: The study adopted a quantitative research method with a total population of 89 registered quantity surveyors. A proportionate stratified sampling technique was used based on a sample size of 72 within the study area. A questionnaire was distributed as a means of data collection, and 42 questionnaires were retrieved, resulting in a response rate of 58.33%.

Findings: The results revealed that the majority of quantity surveyors practice financial claims aspects, with about 81.14%, and budgeting and auditing at 17.50%, while planning and controlling are at less than 2%. Eigenvalues, λmax = 9.39, obtained from the pairwise comparison matrix are 9.39, and the consistency ratio is 3.56% > 10%, an acceptable factor, indicating consistency among quantity surveyors in the selection of the most practiced area in financial management.

Implications: that areas such as planning and controlling, budgeting, and auditing are not given much attention in practice by most quantity surveyors assessed.

Originality: the need for improvement in financial management practices among quantity surveyors to enhance project performance delivery and align with best practices.