PROJECT MANAGEMENT PRACTICES AND SMALL AND MEDIUM SIZE ENTERPRISES

ABSTRACT

The study investigated the relationship between project management practices and performance of small and medium size enterprises in Ugbowo, Benin City, Edo State, Nigeria. The specific objectives were to examine if project schedule management, project cost management, project risk management, and project communication management exert influence on the performance of SMEs in Ugbowo, Benin City. The study used a survey research design. A total of one hundred and twenty (120) formed the population of this study, while ninety-two (92) constituted the sample size of the study. Data was generated through a well-structured questionnaire administration. Questionnaire successfully retrieved were analysed using descriptive and inferential statistics. The Statistical Package for Social Sciences (SPSS) was used as a platform to analyse the data. The study found that project schedule management, project cost management, and project communication management all had a positive and significant relationship with performance of SMEs in Ugbowo, Benin City, while project risk management had no significant relationship with performance of SMEs in Ugbowo, Benin City. The study recommended that SMEs should invest in robust project planning and scheduling, prioritize budget planning and control measure, regularly review project expenditure and explore cost saving opportunities to maximize returns on investment, and offer opportunities for further education and skill enhancement.