The paper "Risk Factors Associated with Budgeting for the Hajj Terminal Construction Project at KAIA" is an outstanding example of a finance and accounting research proposal. The Hajj terminal is one of the terminals in King Abdul Aziz International Airport. It was built in 1981 by the Skidmore, Owings & Merrill LLP (SOM) among other engineers and contractors. The terminal has been the main center for decamping by the pilgrims during their pilgrimage for the Hajj. As a result of increased numbers of the pilgrims, there was a need to expand the Hajj terminal during the expansion process of the KAIA and thereby increase its capacity.
It was then that the International Finance Corporation (IFC) was given the responsibility of structuring and coming up with a public-private partnership to act as the fundamental unit for nurturing the construction. This study is aimed at identifying the risk factors associated with budgeting for the Hajj terminal construction project. The study will use a qualitative cross-sectional survey to interview staff from the construction company handling the project. Information from the open-ended questions will be coded for ease in the analysis.
Tables, graphs, and pie-charts will be used to graphically represent information upon analysis. SPSS will be used to analyze data and derive relationships hence; will be used in the testing hypothesis. Subsequently, risk factors of budgeting for the Hajj terminal construction project will be identified. Research Question Identifying the risk factors associated with preparing a budget for the Hajj terminal construction Project at King Abdul Aziz International Airport (KAIA). Significance of the study This study is very important as it will give a green light on some of the overlooked issues associated with budgeting of major projects like that of the Hajj terminal.
Budgeting is a very important stage during the planning stage for any project. A budget that is aimed at controlling and managing the funds available is very important. Taking into consideration an international project like the Hajj, it is very important to look at the risk factors that act as hindrances to the successful completion of a project with regard.
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