Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between building information modeling (BIM) for cost management and construction cost overrun has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Selected Commercial Banks in Nigeria where operating conditions differ markedly from more developed markets.

Selected Commercial Banks in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

While building information modeling (BIM) for cost management is widely discussed in policy and industry circles, empirical evidence on its actual effect on construction cost overrun within Selected Commercial Banks in Nigeria remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to building information modeling (BIM) for cost management are helping or hindering construction cost overrun — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Building Information Modeling (BIM) for Cost Management on construction cost overrun in Selected Commercial Banks in Nigeria.
2. To assess the extent to which building information modeling (BIM) for cost management influences construction cost overrun within the study area.
3. To identify the challenges associated with building information modeling (BIM) for cost management in relation to construction cost overrun.
4. To recommend strategies for optimizing building information modeling (BIM) for cost management in order to improve construction cost overrun.

1.4 Research Questions

1. What is the effect of building information modeling (BIM) for cost management on construction cost overrun in Selected Commercial Banks in Nigeria?
2. To what extent does building information modeling (BIM) for cost management influence construction cost overrun within the study area?
3. What challenges are associated with building information modeling (BIM) for cost management in relation to construction cost overrun?
4. What strategies can be adopted to optimize building information modeling (BIM) for cost management in order to improve construction cost overrun?

1.5 Significance of the Study

Beyond its academic contribution to the field of quantity surveying, this study has practical value for management teams within Selected Commercial Banks in Nigeria seeking to understand how building information modeling (BIM) for cost management translates into measurable outcomes around construction cost overrun. It is equally useful to students and future researchers looking for a localized empirical reference on this relationship.

1.6 Scope of the Study

In terms of scope, this study confines itself to Selected Commercial Banks in Nigeria, focusing specifically on how building information modeling (BIM) for cost management relates to construction cost overrun within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.