The impact of project management on improving financial performance: A case study of construction companies in the Kingdom of Saudi Arabia
DOI:
https://doi.org/10.59992/IJFAES.2025.v4n3p11Keywords:
Project Management, Financial Performance, Construction Companies, Saudi Arabia, Cost Reduction, Increasing Financial Returns, Management TrainingAbstract
This study aims to explore the impact of project management on improving financial performance in construction companies in the Kingdom of Saudi Arabia, focusing on how the application of various project management standards reduces costs and increases financial returns. The study relied on a descriptive analytical approach, with data collected using questionnaires directed at project managers and employees in construction companies. A sample of 160 participants representing various companies in the construction sector was selected. The study results showed that effective project management significantly contributes to improving financial performance by reducing unnecessary costs and increasing efficiency. The results also indicated that good planning and the use of modern management tools and techniques are key factors influencing increased financial returns. Furthermore, the study confirmed the urgent need to continuously train project managers to enhance their skills in applying modern standards. The study's most important recommendations include enhancing ongoing training for administrative staff, implementing risk management systems, and increasing investments in the use of modern technologies to monitor performance and evaluate projects.
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