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ABSTRACT
This study investigates the impact of project planning practices on contractors' profitability in Benin City, Nigeria. Effective project planning is crucial for the success and financial stability of construction projects. This research evaluates the prevalent planning methodologies adopted by contractors and assesses their influence on profitability margins. Through a comprehensive survey involving multiple contracting firms, the study identifies common practices such as risk management, procurement planning, and resource management, and examines their effectiveness in enhancing contractor profitability. Additionally, the research highlights significant challenges faced in the implementation of these practices, including lack of reliable data, ineffective risk monitoring, and external influences such as corruption and political interference. The findings suggest that while certain project planning practices substantially improve profit margins, contractors must overcome substantial hurdles to optimize their planning processes. The study contributes to the body of knowledge by providing empirical evidence on the correlation between project planning and profitability, offering insights that could lead to more efficient and economically viable project management strategies in the construction industry.
