Financial Factors, Monitoring and Evaluation and Implementation of Borehole Flagship Project in Meru County, Kenya

Abstract

The investigation's sought to determine how financial factors and Monitoring and Evaluation (M&E) affect the implementation of Borehole flagship project in Meru County. The approach for the study endeavor was a survey with a descriptive format. Out of the 210 responders in the population, a sample with size number of 136 was chosen. The respondents comprised of managers of projects, homeowners, county officials, and members of leadership committees. Primary data was gathered through a questionnaire. The study employed both descriptive and inferential statistics for data analysis. The Anova table revealed p value to be 0.000 level of significance, which is less than 0.05 at this significance level. Thus, it suggested that the model fit, using financial factors as explanatory variables, was statistically significant in predicting the implementation of the borehole project. The outcome in table 4.9 depict that monitoring and evaluation significantly predicted implementation of Borehole Flagship Projects, (P=0.00<0.05). Therefore, we reject the null hypothesis (HO2) that there is no significant connection between monitoring and evaluation and the implementation of Borehole flagship project within Meru County.The R-squared coefficient of correlation is 0.755, according to the model summary. This indicates that 75.5% of the variance's share in implementation of the borehole project is due to financial factors and M&E been fitted as independent variables in the mode. The Anova table revealed that, at the 0.000 level of significance, the F-Statistic was 1729.5576. The significance level was less than 0.05 at this significance level. Thus, it suggested that the model fit, using financial factors and M&E as explanatory variables, was statistically significant in predicting the implementation of the borehole flagship project. The study concluded that M&E had a positive and significant influence on implementation of the borehole project. The demonstrated significance suggests a meaningful connection between the meticulous implementation of M&E practices and the overall project outcomes. These factors play a critical role in improving project adaptability, offering real-time insights, and cultivating a continuous improvement culture within organizations. This emphasizes the necessity of continued funding for the creation and incorporation of thorough M&E frameworks. Organizations can improve their ability to effectively monitor and assess project progress and use the insights gained to inform decision-making and course corrections. The study concluded that financial factors had a positive and significant influence on implementation of the borehole flagship project. The proven importance highlights the crucial relationship between wise financial planning, resource management, and project whole success. For companies starting similar projects, it is critical to understand the inherent relationship between financial responsibility and project outcomes. It is evident that a key component of guaranteeing the viability and beneficial effects of projects is strategic financial management. Organizations must prioritize thorough financial assessments, investigate the variety of funding sources, and put in place reliable financial monitoring systems as they negotiate complex funding landscapes. In addition to strengthening financial stability over the course of the project, these actions will set up projects for long-term success and beneficial community impact. Organizations are encouraged to make investments in the ongoing improvement of their practices for monitoring and evaluating. To guarantee that project teams are proficient in applying cutting-edge M&E methodologies. This would involve setting in place initiatives for capacity-building and targeted training. Furthermore, for organizations looking to boost project performance and impact, cultivating a dynamic culture of learning and adaptation based on M&E findings.