A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
THE PRACTICE AND CHALLENGES OF COST ESTIMATION IN BUILDING CONSTRUCTION PROJECTS IN ETHIOPIA
Cost estimating is the compilation and analysis of many items that influence and contribute to the cost of a project. Mainly emanating from the various variables involved and the forecasting needed, producing accurate cost estimation faces different challenges. The objective of this research is to explore the cost estimation practices and gain an understanding of factors that are the challenge and problem areas of cost estimation in building construction projects and to recommend possible improvement solutions. This was achieved through case study of four grade one contractors of which five projects selected from each contractor to review the cost estimate practice. Accordingly, the research examined case projects’ cost records, cost analysis documents and contract documents. In addition, interviews and discussions are used to substantiate as well as support the findings of the document analysis to ensure the validity and reliability of the information. The findings of the study indicate that contractors predominantly undertake cost estimating for planning tender and for new variation works at execution stage. Detail estimating technique is widely applicable and contractors have not adopted estimating tools that consider risks and variability in cost estimates. The study revealed that the major challenge of cost estimation continues to be lack of sufficient project information at time of tender, poor project specific assessment, poor analysis of construction costs especially in estimating risk and indirect costs and influence of fierce competition in the industry.
THE PRACTICE AND CHALLENGES OF COST ESTIMATION IN BUILDING CONSTRUCTION PROJECTS IN ETHIOPIA
Cost estimating is the compilation and analysis of many items that influence and contribute to the cost of a project. Mainly emanating from the various variables involved and the forecasting needed, producing accurate cost estimation faces different challenges. The objective of this research is to explore the cost estimation practices and gain an understanding of factors that are the challenge and problem areas of cost estimation in building construction projects and to recommend possible improvement solutions. This was achieved through case study of four grade one contractors of which five projects selected from each contractor to review the cost estimate practice. Accordingly, the research examined case projects’ cost records, cost analysis documents and contract documents. In addition, interviews and discussions are used to substantiate as well as support the findings of the document analysis to ensure the validity and reliability of the information. The findings of the study indicate that contractors predominantly undertake cost estimating for planning tender and for new variation works at execution stage. Detail estimating technique is widely applicable and contractors have not adopted estimating tools that consider risks and variability in cost estimates. The study revealed that the major challenge of cost estimation continues to be lack of sufficient project information at time of tender, poor project specific assessment, poor analysis of construction costs especially in estimating risk and indirect costs and influence of fierce competition in the industry.
THE PRACTICE AND CHALLENGES OF COST ESTIMATION IN BUILDING CONSTRUCTION PROJECTS IN ETHIOPIA
Bruktaite Negussie (author) / Solomon Sertse, PhD (author)
2017-01-01
doi:10.20372/nadre:1548506083.27
Theses
Electronic Resource
English
DDC:
690
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