Effect of Financial Management Practices on Construction Project Implementation: A Case of Amahoro Stadium in Gasabo District, Rwanda
DOI:
https://doi.org/10.53819/81018102t4437Abstract
The study examined the effect of financial management practices on implementation of Amahoro Stadium Project in Gasabo District, Rwanda. The study guided by two specific objectives: to assess the effect of financial planning on implementation of Amahoro Stadium Project, to examine the effect of financial control on implementation of Amahoro Stadium Project. The study anchored on Resource-Based View Theory. A descriptive and correlational research design were applied using quantitative and qualitative approaches. The target population comprised 324 populations. The sample size was 179 respondents selected using Slovin’s formula, while stratified and simple random sampling techniques guided participant selection. Questionnaires, interviews, and documentary review served as data collection instruments, and SPSS version 29 used to analyze quantitative data through descriptive statistics, correlation, and multiple regression. Qualitative data was analyzed thematically to support interpretation of statistical findings and strengthen conclusions on how financial management practices affect project implementation. The findings showed that Financial Planning had a positive and significant effect on project implementation (β = 0.194, t = 2.896, p = 0.004); Financial Control had a positive and significant effect on project implementation (β = 0.306, t = 5.016, p = 0.000). The study concluded that financial management practices significantly contributed to project implementation in Amahoro Stadium Project. It recommended that responsible institutions should strengthen budget forecasting, cost estimation and cash scheduling before each implementation phase while also strengthening the other significant practices identified by the study.
Keywords: Project implementation, financial reporting, financial accountability, financial control, financial planning, and Financial management practices.
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