Influence of Financial Management Practices on Timely Completion of Electrical Infrastructure Projects in TANESCO: Evidence from Geita Zone, Tanzania

Abstract

The study assessed the influence of financial management practices on timely completion of electrical infrastructure projects in TANESCO focusing Geita Zone, Tanzania. The study used a quantitative research approach and explanatory research design. The sample size was 80 personnel (project managers, engineers, finance officers, and procurement staff) directly involved in TANESCO electrical infrastructure projects in Geita Zone. A census sampling technique was used for selecting the respondents. Structured questionnaires were used for gathering information. Quantitative data were analysed through mean scores, standard deviations and multiple linear regression analysis. The findings revealed that, Financial Planning (β = 0.32, p < 0.001) has the strongest influence, suggesting that proper forecasting and allocation of funds are crucial for project success. Cash flow management (β = 0.30, p = 0.001) is also a significant predictor, indicating that timely availability of funds ensures uninterrupted project implementation. Budgeting (β = 0.28, p = 0.002) significantly contributes to project completion by guiding resource allocation and expenditure control. Cost control (β = 0.21, p = 0.038), although significant, has the least influence among the variables, suggesting room for improvement in cost monitoring practices. This study concludes that improving financial management practices can significantly enhance project efficiency and reduce delays in electrical infrastructure development. It is recommended that, further research is needed to gain deeper understanding of financial management challenges in infrastructure projects.

Keywords:       Financial management practices, timely completion, electrical infrastructure projects.