Chapter One — 1.1 Background to the Study

In recent years, Building Information Modeling (BIM) for Cost Management has emerged as a critical factor shaping project cost performance across organizations operating in and around the Nigerian Capital Market. As institutions grapple with the pressures of globalization, regulatory reform, and shifting stakeholder expectations, understanding how building information modeling (BIM) for cost management relates to project cost performance has become an important area of both scholarly and practical concern.

the Nigerian Capital Market 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 project cost performance within the Nigerian Capital Market 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 project cost performance — 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 project cost performance in the Nigerian Capital Market.
2. To assess the extent to which building information modeling (BIM) for cost management influences project cost performance within the study area.
3. To identify the challenges associated with building information modeling (BIM) for cost management in relation to project cost performance.
4. To recommend strategies for optimizing building information modeling (BIM) for cost management in order to improve project cost performance.

1.4 Research Questions

1. What is the effect of building information modeling (BIM) for cost management on project cost performance in the Nigerian Capital Market?
2. To what extent does building information modeling (BIM) for cost management influence project cost performance within the study area?
3. What challenges are associated with building information modeling (BIM) for cost management in relation to project cost performance?
4. What strategies can be adopted to optimize building information modeling (BIM) for cost management in order to improve project cost performance?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around project cost performance. For managers and practitioners within the Nigerian Capital Market, the study provides practical insight into how building information modeling (BIM) for cost management can be better managed. Finally, it contributes to the academic literature on quantity surveying by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

In terms of scope, this study confines itself to the Nigerian Capital Market, focusing specifically on how building information modeling (BIM) for cost management relates to project cost performance within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.