Payment Processes as Factors Impede the Successful Implementation of Construction Projects at WT Business Group in Namibia.

Abstract:

Many projects are initiated but few are completed on budget, on schedule, and on the scope of the initial project concept. Proper planning largely determines successful implementation of any project because without it, the strategic goals remain unattainable. The main objective of this study was to examine the factors that impede the successful implementation of construction projects at WT Business Group in Namibia. This study adopted an interpretivist research philosophy and a qualitative methodology to examine the factors that impeded on the successful implementation of construction projects at the selected firm in Namibia. A sample of 10 respondents out of a population of 85 permanent employees of WTBG was chosen to participate in the study. Data was collected through in-depth interviews that were done telephonically due to COVID-19 containment regulations. One of the key findings of the study was that the WTBG had serious challenges with handling payments from clients. The payment process should be understood in the context of the complex relationships of WTBG and its other stake holders. Payment processes also have a delicate relationship with the availability of financial resources, prevailing financial market conditions, and cash flow management capabilities of the company. The findings also revealed that WTBG are standing in a volatile market which is complicated by the COVID-19 pandemic which has created uncertainties. More than ever, creative and proactive strategies are needed to keep WTBG afloat. Some recommendations are thus made to enhance the chances of survival of WTBG and its maintenance of a good name in the industry.
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APA

Martha, I (2024). Payment Processes as Factors Impede the Successful Implementation of Construction Projects at WT Business Group in Namibia.. Afribary. Retrieved from https://afribary.com/works/payment-processes-as-factors-impede-the-successful-implementation-of-construction-projects-at-wt-business-group-in-namibia

MLA 8th

Martha, Ithana "Payment Processes as Factors Impede the Successful Implementation of Construction Projects at WT Business Group in Namibia." Afribary. Afribary, 30 Mar. 2024, https://afribary.com/works/payment-processes-as-factors-impede-the-successful-implementation-of-construction-projects-at-wt-business-group-in-namibia. Accessed 28 May. 2024.

MLA7

Martha, Ithana . "Payment Processes as Factors Impede the Successful Implementation of Construction Projects at WT Business Group in Namibia.". Afribary, Afribary, 30 Mar. 2024. Web. 28 May. 2024. < https://afribary.com/works/payment-processes-as-factors-impede-the-successful-implementation-of-construction-projects-at-wt-business-group-in-namibia >.

Chicago

Martha, Ithana . "Payment Processes as Factors Impede the Successful Implementation of Construction Projects at WT Business Group in Namibia." Afribary (2024). Accessed May 28, 2024. https://afribary.com/works/payment-processes-as-factors-impede-the-successful-implementation-of-construction-projects-at-wt-business-group-in-namibia