ROLES OF ESTATE SURVEYORS AND VALUERS IN PROJECT MANAGEMENT IN LAGOS STATE

ABSTRACT 

Management is defined as “getting things done through others”. It can be more scientifically defined as the coordination of all the resources of an organization through the process of planning, organizing, directing and controlling in order to attain organization objective. Management is the guidance or direction of people towards organizational goals or objectives. It can coordinating of activity to attain results with organizational resources.

This study therefore aims at highlighting the various roles of the estate surveyors and valuers in project management and the benefit of their roles to the national as a whole.

The various problems militating against their roles in project management are to be examined. Furthermore the various reasons why estate surveyors are to be the project managers among all the professionals in building teams or construction works are to be highlighted as well.

It is also intended to proffer necessary solution to the various problems being encounted in project management.

TABLE OF CONTENTS

Title Page                                                                               

Certification

Dedication

Acknowledgement

Table of contents

Synopsis

CHAPTER ONE: 

1.0    General Introduction

1.1    Introduction

1.2    Background of the study

1.3    Statement of problem

1.4    Aim and Objectives of Study

1.5    Research Hypothesis

1.6    Scope of Study

1.7    Significance of Study

1.8    Definition of Terms

1.9    Limitation of Study

         References

CHAPTER TWO: 

 REVIEW OF RELEVANT LITERATURE

2.0       Literature review

2.1       Conceptual framework

2.2       Who is a project manager

2.3       Function of Management

2.4       Importance of a valuer

2.5       The suitability of an estate surveyor in project management

2.6       Project management process

2.7       Time and cost management

2.8       Project management initiatives

2.9       The element of project management

2.10    Tip for managing a project

2.11    Management policy

2.12    Types of project or real estate finance

References

CHAPTER THREE

3.0    Research methodology and study

3.1    Introduction

3.2    Restatement of research hypothesis

3.3    The study area

3.4    Source of data

3.5.1 Primary source

3.5.2 Secondary source       

3.6    Research instrument

3.7       Sampling size and design

3.8       Method of data analysis

          References

CHAPTER ONE

1.0   HISTORICAL BACKGROUND OF THE STUDY

From time to time, governments borrow money, since the attainment of the independence in Nigeria, just of other nations, no country is self-sustainable it is pertinent that for government to continue carry out is duties. It sometimes has to borrow money some of which might not be paid at a later future date though not as expected but inform of debt relief/cancellation.

The study of this essay is meant to look into the background of debt cancellation, which are synonymous with developing countries or less developed countries (LDCs) of which Nigeria is a member, though the experience of debt cancellation is only contemporary to Nigeria as such historical reference can only go in other countries directions.

1.1       INTRODUCTION

Public debt has been described as the total accumulated debt of a country both internal and external.

According to John F. Kennedy (1962) the task of economic stabilization requires keeping the economy from straying too far above or below the path of steady high employment. One way lies inflation, and the other lies recession. Flexible and vigilant fiscal and monetary policy will allow us to hold the narrow middle course.

It is useful to distinguish between the total debt held by the public, excludes debt held by the government itself. Net debt is owned by household, banking businesses, foreigners, and other non-federal entities. The gross debts equals the net plus bonds owned by the government, primarily by the Social Security Trust Fund. The Social Security Trust Fund is running a large surplus, so the difference between these two concepts is growing rapidly today public debt could be internal or external, but in case of this essay, it is external, since it is the one that can attract debt relief.

The public debt could be: (1) Reproductive debt

(2) Deadweight debt.

When the purpose of a loan is to enable a public body to purchase a real asset, the debt thus incurred is said to be “reproductive”. The second type of public debt is known as “deadweight”. Debt, because it is not covered by any real asset.

1.2   STATEMENT OF THE PROBLEM 

The study will be based on the level of debt cancellation and its consequence prospect for the Nigeria economy vis-vis a catalyst for economic growth and development.

1.3   RESEARCH QUESTIONS

The main objective of the study is to consider, look into and examine the consequence of debt cancellation and its positive effect on growth and development for the Nigeria economy.

The aims and objectives of this study will be as follows:

i.             To examine the role of debt cancellation in relation to poverty alleviation in Nigeria.

ii.           To identify the problem which may however be associated with debt cancellation and to look into the effectiveness and utilization of debt relief towards the contribution of growth and development in Nigeria.

1.4   RESEARCH QUESTIONS

The question will be based on why do government incure public debt, the justification of debt relief and cancellation. Should it be supported?

Highly Indebted Developing Countries (HIDC) have been clamouring and will continue to clamour for debt cancellation, for what purpose are they doing this? This will be the question to be examine.

1.5   RESEARCH HYPOTHESIS  

In the light of the stated objectives, the following objectives were formulated.

Hypothesis 1

Ho:   That there is correlation between debt service ratio, external debt and economic growth.

Hi:    That there is no correlation between debt services, external debt and economic growth.

Hypothesis 2

Ho:   That private investment have enhance economic development.

Hi:    That private investment have not enhance economic development.

1.6   MODEL SPECIFICATION

Data analysis would be done through, using OLS regression method of data analysis.

General model is given by;

Y       =        bo + Bideserat + B, Pv + gdp + B3 Exdgdp + U

Model 1

Y = bo + bi dev + U

Where:

Y                 =        Gross Domestic Product

bo               =        Intercept

b₁                =        slope

Dersevat    =        debt service ration

U                 =        error term

Model 2

Y       =        bo + b₂ Pv + gdp + U

Where:

Y       =        Gross Domestic Product

bo               =        Intercept

b₂                =        slope

PV+gdp      =        Private investment

U                 =        error term

Model 3

Y       =        bo + b3 Ex+gdp + U

Y       -        Gross Domestic product

bo               =        Intercept

b₃                =        slope

Ex+gdp       =        External debt

U                 =        error term

The data will be examined before debt relief and after debt cancellation to examine the effects.

1.7   SIGNIFICANCE OF THE STUDY

The study of debt relief will enable us to predict the impact of debt relief/cancellation and see its positive impact on economic growth and development in the Highly Indebted Developing Countries (HIDC’s).

The argument to support the debt cancellation in third world countries can only be emphasised through research of this kind of study.

1.8       SCOPE AND LIMITATION

Shortcomings are part of any programme designed by man is not all knowing and not all perfect. There are some problem which indebted developing countries (HIDC’s)

The argument to support the debt cancellation in third world countries can only be emphased through research of this kind of study.

1.9       SCOPE AND LIMITATION

Short comings are part of any programme designed by man is not all knowing and not all perfected. There are some problem which developed in the implementation of programme.

In as much as the study is designed to reflect the level of growth and development as a utilization of debt relief. One must however note that debt cancellation could only be one of the ways in which a country can experience growth and development, but that does not guarant that growth and development will achieve.

1.9       METHOD OF DATA COLLECTION

The research method will be gathered from available records, Internet, textbooks, daily’s, and bulleting. In addition, data will also be collated from secondary source and primary source.

1.10   ORGANISATION OF THE STUDY

This study shall be divided into five chapters. Chapter one, shall consist of the historical background, introduction, statement of the problem, research objectives, research hypothesis, model specification, significance of study, scope/limitation of study, method of data collection, organization of the study and contribution to knowledge.

Chapter two: is the literature review

Chapter three: debt cancellation and its correlation for growth and development.

Chapter four: is an appraisal of the empirical analysis of the organization.

Chapter five: is the summary, conclusion and recommendation.

1.11   CONTRIBUTION TO KNOWLEDGE

Knowledge has no end since it develops the skills and capacity of one’s mind and as such, the study enables ones to acquire more knowledge about the scope of government debt and thus goes as long as to give insight into the consequences of debt relief to any government and its product on poverty alleviation, gross domestic product progress and other macro economic variables.

The knowledge contribution of this study will go a long way in adding more to the capacity building for users of information.