Assessing Project Cost Management Effect on Small and Medium Scale Enterprise Performance in Nigeria

Abstract

In this review, assessing project cost management effect on small and medium scale enterprises (SMEs)
performance in Nigeria was undertaken. The study identified SMEs financing as the major setback
encountered by operators of SMEs and examined the effect of project cost management on the
performance of SMEs in Nigeria. Findings reveal that effective cost management is pertinent to the overall
performance of SMEs. Furthermore, the study showed that by employing project cost management in their
project plan, SMEs are poised to enjoy access to credit as well as thrive with limited finances. In essence,
through project cost management, SMEs can effectively attain their project goals. Based on these findings,
the study recommends that operators of SMEs should employ project cost management as an essential
project management activity (PMA) in their operational plan by which they become viable to investors while
maintaining a competitive edge in the business environment.