Title:
SOCIO ECONOMIC FACTORS TOWARDS THE SUCCESSFUL COMPLETION OF PROJECTS OF EMERGING CONTRACTORS IN GAUTENG PROVINCE SOUTH AFRICA

Authors:
Zamokuhle Maoto And Zeleke Worku ,SOUTH AFRICA

Abstract:
The purpose of the study was to identify and quantify socioeconomic factors that affect the successful completion of projects undertaken by emerging construction companies in Gauteng Province, South Africa. The study was motivated by the high failure rate among emerging and newly established contractors in the construction industry. Data was collected by use of a structured questionnaire and in-depth interviews from a stratified random sample of size 273 emerging contractors. The study revealed that the successful completion of projects was significantly influenced by 3 factors: the ability to avoid deviation costs, carrying out regular inspections at each phase of the construction process and adherence to legal requirements during construction in a decreasing order of strength. Furthermore in-depth interviews showed that some emerging contractors failed to complete projects on time due to lack of financial resources exacerbated by late payments by the client, lack of technical skills and were unable to win sizeable construction contracts due to intense competition from well-established construction companies