Prospects and Challenges of Budgeting in Project Management; An Explorative Review of CCEI Malawi

Mr Glyn Munthali and Dr Logasakthi Kandasamy
Additional contact information
Mr Glyn Munthali: PHD Commerce Scholar-2021-2024, School of Commerce And Management Studies Dmi St Eugene University, Lusaka, Zambia, Box 384, Lilongwe, Malawi Central Africa
Dr Logasakthi Kandasamy: Aassociate Professor- School of Business, Rv University, Benguluru, Karnataka

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 7, 1888-1901

Abstract: Budgeting is considered as the most important tools for decision making in the organization. Decision making include pricing education, costing information in Organization and these has been a widespread problem in applying this information in institution. Most organizations prepare their budgets at the beginning of their financial year as a guiding tool for the efficient and effective usage of limited resources. However, studies conducted to determine the prospects and challenges in Organization reveal that most organization face challenges in utilizing the budgets process as budgets fail to be consistent throughout the project. The study being reported here investigated the prospects and challenges of budgeting in Project Management in order to recommend appropriate interventions required to develop and improve the budgetary process in Organization. The study used questionnaires and face-to-face interviews to collect data from the respondents. The population for the study was 330 employees. The study adopted a sample size of 33 employees, representing 10 percent of the population. The sample size was considered reasonable and adequate for the research. Simple random sampling technique was adopted through testing every nth member of the population to ensure that employees had equal chance of being selected into the sample. A literature review was conducted regarding the budgeting in project management and revealed that no further has recently been conducted in this area. Empirical research was conducted on the target population within the indicated geographical area. The study confirmed that there are a number of prospects and challenges in budgeting in most Organization.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.rsisinternational.org/journals/ijriss/ ... ssue-7/1888-1901.pdf (application/pdf)
https://rsisinternational.org/journals/ijriss/arti ... view-of-ccei-malawi/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:8:y:2024:i:7:p:1888-1901

Access Statistics for this article

International Journal of Research and Innovation in Social Science is currently edited by Dr. Nidhi Malhan

More articles in International Journal of Research and Innovation in Social Science from International Journal of Research and Innovation in Social Science (IJRISS)
Bibliographic data for series maintained by Dr. Pawan Verma ().