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Abstract
Efficient cost management is fundamental to the successful delivery of capital projects. This research focuses on the cost management practices in Benin City, Nigeria, and their impact on project outcomes. The study addresses the challenges faced in implementing efficient cost management practices and examines the effects of inadequate cost management on project outcomes. Cost management involves resource planning, cost estimation, cost budgeting, and cost control. It is a dynamic process that requires continuous monitoring and adaptation as project conditions change. The research identifies common cost management practices employed in capital projects in Benin City and explores the challenges associated with these practices. It also investigates the consequences of inadequate cost management, such as budget overruns and project delays. The study's significance lies in its potential to inform policymakers, project managers, and government representatives about the issues hindering effective cost management and provide insights to create targeted interventions. By sharing best practices, this research aims to standardize cost management approaches, enhance professionalism, and contribute to the reduction of budget overruns and project delays. Keywords: cost management, capital projects, project outcomes, budget overruns, resource planning, Nigeria, project delays.
