Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between building information modeling (BIM) for cost management and project cost performance has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of the Nigerian Capital Market where operating conditions differ markedly from more developed markets.

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

Despite a growing body of literature on building information modeling (BIM) for cost management, there remains limited consensus on the precise nature of its relationship with project cost performance, particularly within the Nigerian Capital Market. Many organizations continue to make decisions about building information modeling (BIM) for cost management 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 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

Beyond its academic contribution to the field of quantity surveying, this study has practical value for management teams within the Nigerian Capital Market seeking to understand how building information modeling (BIM) for cost management translates into measurable outcomes around project cost performance. 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 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.