Funds Management and Performance of Infrastructural Projects in Canada: A Case Study of Trans-Canada Highway
DOI:
https://doi.org/10.53819/81018102t5203Abstract
Funds management is a crucial aspect of infrastructure projects, ensuring that financial resources are effectively allocated and utilized to achieve project goals. It involves the strategic planning, budgeting, and monitoring of funds throughout the project lifecycle. The performance of infrastructural projects is measured through various indicators, including cost management, schedule adherence, quality of deliverables, and overall project outcomes. Effective funds management plays a significant role in project performance, as it helps ensure that funds are allocated optimally and used efficiently. Infrastructure projects often require substantial investments, and funds management helps mitigate financial risks by monitoring expenditures, identifying cost overruns or budget deviations, and implementing corrective measures. It also involves financial forecasting and risk assessment to anticipate and address potential challenges or constraints that may impact project performance. The study used the descriptive research design. The target population was 35 members of Transport Canada. The study did sampling of 25 respondents that were selected from the target population of 35 members of Transport Canada. The collection of data was conducted through stratified random sampling whereby questionnaires were used to gather data. The study concluded that the challenges surrounding funds management, cost control, performance evaluation, environmental considerations, and stakeholder collaboration must be addressed to ensure the optimal utilization of resources and the long-term sustainability of the project. Securing stable and adequate funding sources from national and provincial governments is crucial for the Trans-Canada Highway's continued development and maintenance. The study recommended that both national and provincial governments should establish a long-term funding plan that spans the entire lifecycle of the project. Regular assessments and data collection should be conducted to identify bottlenecks, areas for improvement, and emerging needs.
Keywords: Funds Management, Performance, Infrastructural Projects, Canada
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