Chapter One — 1.1 Background to the Study

Procurement Method Selection has increasingly attracted the attention of researchers, regulators, and practitioners concerned with project cost performance. This growing interest reflects the recognition that procurement method selection does not operate in isolation, but interacts with a wider set of institutional and market conditions found within Selected Deposit Money Banks in Nigeria.

Within the context of Selected Deposit Money Banks in Nigeria, this relationship carries particular significance. Organizations in this setting operate under a distinct combination of economic, regulatory, and market conditions that may amplify or dampen the effect of procurement method selection on project cost performance, making a context-specific inquiry both timely and necessary.

1.2 Statement of the Problem

Despite a growing body of literature on procurement method selection, there remains limited consensus on the precise nature of its relationship with project cost performance, particularly within Selected Deposit Money Banks in Nigeria. Many organizations continue to make decisions about procurement method selection without a clear, evidence-based understanding of how those decisions ultimately affect project cost performance. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Procurement Method Selection on project cost performance in Selected Deposit Money Banks in Nigeria.
2. To assess the extent to which procurement method selection influences project cost performance within the study area.
3. To identify the challenges associated with procurement method selection in relation to project cost performance.
4. To recommend strategies for optimizing procurement method selection in order to improve project cost performance.

1.4 Research Questions

1. What is the effect of procurement method selection on project cost performance in Selected Deposit Money Banks in Nigeria?
2. To what extent does procurement method selection influence project cost performance within the study area?
3. What challenges are associated with procurement method selection in relation to project cost performance?
4. What strategies can be adopted to optimize procurement method selection 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 Selected Deposit Money Banks in Nigeria, the study provides practical insight into how procurement method selection 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

The study is limited to an examination of Procurement Method Selection and its relationship with project cost performance within the context of Selected Deposit Money Banks in Nigeria. It reflects a clearly defined scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.