Key Features:
No. of pages: 90
Abstract:
The
importance of accurate estimates during the early stage of cost planning of
the capital project has been widely recognized for many years. Even so, very few quantitative methods are available that enable estimators and business managers to objectively evaluate the accuracy of early estimates and planning. The primary purpose of this study was to identify and examine the factors influencing cost planning of building projects in Gombe and Bauchi State as it
relates to the Nigerian Construction Industry. To accomplish this aim,
quantitative data were collected from consultant Quantity Surveyors. Each of
the respondents was asked to assign a one to ten rating for each of the 10
potential drivers of the accuracy of the estimate for a given estimate.
The data were analyzed using simple statistical tools which include; mean, standard deviation and percentages were used to represent the information. The study analysis identified 5 of the 10 factors that were most significant at the level. In this finding the five factors, in order of significance were most significance amount of information available, time allowed to prepare the estimate, experience of the consultant team, complexity of the project, and bidding and suitability/stability of the market. Cost estimating and planning is
fundamental part of the construction.
The success or failure of a project is
dependent on the accuracy of several estimates throughout the course of the
project. Construction estimating is the compilation and analysis of many items
that influence and contribute to the cost of the project. Estimating which is
done before the physical performance of the work requires a detailed study and careful analysis of the bidding document, in order to achieve the most accurate estimate possible of the probable cost consistent with the bidding time available and the accuracy and completeness of the information submitted. Overestimated or underestimated cost has the potential to cause loss to local contracting companies.
Table of Content:
DEDICATIONDEDICATION
ACKNOWLEDGEMENT
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.1BACKGROUND OF THE STUDY
1.2 STATEMENT OF THE
RESEARCH PROBLEM
1.3RESEARCH QUESTIONS
1.4SIGNIFICANCE OF THE STUDY
1.5.0 AIM AND OBJECTIVES
1.5.1 AIM
1.5.2 OBJECTIVES
1.6STATEMENT/RESERCH OF
HYPOTHESIS
1.7 RESEARCHMETHODOLOGY
1.7.2 QUESTIONNAIRE/FIELD SURVEY
1.8SCOPE AND LIMITATION
1.8.1SCOPE
1.8.2LIMITATION
CHAPTER TWO
LITERATURE REVIEW
2.1 HISTORICAL DEVELOPMENT OF COST PLANNING
2.2.0CONCEPT OF COST PLANNING
2.2.1 ADVENT OF COST PLANNING
2.2.2USES OF COST PLANNING
2.2.3 Cost Planning the
Brief
2.2.4 PRELIMINARY COST
PLANNING
2.2.5 Cost Planning Reports
2.2.6 THE ROLE OF
THE COST PLANNER
2.3.0 COST PLANNING TECHNIQUES
2.3.1 VARIOUS COST PLANNING TECHNIQUES
2.3.1.1 Easy Cost Planning (ECP)
COST PLANNING
2.5.2 ELEMENTAL ESTIMATES
The cost plan
2.7.1.2.1 ELEMENTAL COST ANALYSIS
2.7.1.2.2 PREPARATION OF ELEMENTAL COST PLAN
2.7.1.3 PHASE 3 –
COST CHECKING
2.7.2
COMPARATIVE COST PLANNING
2.7.2.1 PHASE I – ESTIMATE
2.7.2.2 PHASE 2 – COST PLAN
2.8.0 COST IN USE –
THEORY
2.8.1 COST IN USE
AND COST PLANNING
2.9.0 NEED FOR COST
ESTIMATING
2.9.1 COST
ESTIMATING PRIOR TO TENDER
2.9.2 SINGLE PRICE RATE
ESTIMATING
2.10.0 COST CONTROL
2.10.1 DEFINITION OF COST CONTROL
2.10.1.1 COST
ANALYSIS
2.10.1.2 COST RESEARCH
2.10.1.3 COST STUDY
2.11.0 COST PLAN
2.12.0 APPROXIMATE ESTIMATING
2.7.12.0 FACTORS INFLUENCING COST PLANNING OF PUBLIC
BUILDING PROJECTS
2.12.1 LOCATION FACTORS
2.12.2 DESIGN FACTORS
2.12.3 QUALITATIVE FACTORS
2.12.4 TIME FACTORS
2.12.4.1 PROJECT COMPLEXITY
2.12.4.2 AVAILABILITY/AMOUNT OF PROJECT INFORMATION
2.12.4.3 TECHNOLOGICAL REQUIREMENTS
2.12.4.4 CONTRACT REQUIREMENT/ STAGE OF WORK
2.12.4.5 TEAM'S/CONTRACTOR'S/CONSULTANT'S EXPERIENCE AND EFFICIENCY
2.12.4.6 MARKET REQUIREMENT/STABILITY OF THE MARKET
2.13.0 FACTORS AFFECTING COST ESTIMATE /PLAN
2.13.1 Cost Information
2.13.2 MARKET
INFORMATION
2.13.3 EXPERIENCE OF
Q.S. / ESTIMATOR
2.15.0. FACTORS IN SUCCESSFUL COST PLANNING
2.16.0 DESIGN METHOD AND COST ADVICE
2.16.1 THE RIBA PLAN OF
WORK
2.17.0 COST DATA
2.17.1 PROBLEMS WITH
COMPUTER MODELS
2.17.2 THE USES OF COST
DATA
2.18.0 COST PLANNING
SERVICES
2.18.1 FEASIBILITY STUDIES
2.18.2 FUNCTIONAL PROGRAM
2.18.3 SCHEMATIC DESIGN
2.18.4 DESIGN DEVELOPMENT (PRELIMINARY DRAWINGS
2.18.5
WORKING DRAWINGS
2.18.6 PRE TENDER
2.18.7 TENDER PACKAGE
2.18.8 TENDER REVIEW &
CONTRACTOR SELECTION
2.18.9 FUNCTIONAL
COST ANALYSIS
CHAPTER THREE
RESEARCH METHODOLOGY
3.3 INSTRUMENT FOR DATA
COLLECTION
3.4 PROCEDURE FOR DATA
COLLECTION
3.4 METHOOD OF DATA ANALYSIS
3.5 SOURCES OF DATA
3.5.1 PRIMARY SOURCES OF DATA
3.5.1.1 RESEARCH QUESTIONNAIRES
Section A - Organisation
Information
Section B – Questions On Cost
Planning
Section C – Comments And
Suggestions
3.5.2 SECONDARY DATA
COLLECTION
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1
PRESENTATION OF DATA FROM QUESTIONNAIRE
4.1.1 STRUCTURE OD
QUESTIONNAIRE
4.2 TESTING OF
HYPOTHESES
4.3 RESEARCH FINDING
CHAPTER FIVE
SUMMARY, CONCLUSION AND
RECOMMENDATION
5.0 SUMMARY
5.1 CONCLUSION
5.2 RECOMMENDATIONS
5.3 CONTRIBUTION TO KNOWLEDGE
REFERENCES
APPENDIX
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