ABSTRACT
The importance of accurate estimate during the early stage of cost planning of capital project has been widely recognized for many years. Even so, very few quantitative method 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 project 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 estimates accuracy 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.
Key Words: Cost Planning, Public Building.
TABLE OF CONTENTS
APPROVAL PAGE ii
DEDICATION iii
ACKNOWLEDGEMENT iv
TABLE OF CONTENTS vii
CHAPTER ONE: INTRODUCTION 1
1.1BACKGROUND OF THE STUDY 1
1.2 STATEMENT OF THE RESEARCH PROBLEM 3
1.3RESEARCH QUESTIONS 3
1.4SIGNIFICANCE OF THE STUDY 4
1.5.0 AIM AND OBJECTIVES 4
1.5.1 AIM 4
1.5.2 OBJECTIVES 4
1.6STATEMENT/RESERCH OF HYPOTHESIS 5
1.7 RESEARCHMETHODOLOGY 5
1.7.2 QUESTIONNAIRE/FIELD SURVEY 5
1.8SCOPE AND LIMITATION 6
1.8.1SCOPE 6
1.8.2LIMITATION 6
CHAPTER TWO 7
LITERATURE REVIEW 7
2.1 HISTORICAL DEVELOPMENT OF COST PLANNING 7
2.2.0CONCEPT OF COST PLANNING 9
2.2.1 ADVENT OF COST PLANNING 11
2.2.2USES OF COST PLANNING 11
2.2.3 Cost Planning the Brief 12
2.2.4 PRELIMINARY COST PLANNING 12
2.2.5 Cost Planning Reports 13
2.2.6 THE ROLE OF THE COST PLANNER 14
2.3.0 COST PLANNING TECHNIQUES 14
2.3.1 VARIOUS COST PLANNING TECHNIQUES 14
2.3.1.1 Easy Cost Planning (ECP) 15
COST PLANNING 17
2.5.2 ELEMENTAL ESTIMATES 21
The cost plan 21
2.7.1.2.1 ELEMENTAL COST ANALYSIS 30
2.7.1.2.2 PREPARATION OF ELEMENTAL COST PLAN 31
2.7.1.3 PHASE 3 – COST CHECKING 32
2.7.2 COMPARATIVE COST PLANNING 33
2.7.2.1 PHASE I – ESTIMATE 33
2.7.2.2 PHASE 2 – COST PLAN 33
2.8.0 COST IN USE – THEORY 34
2.8.1 COST IN USE AND COST PLANNING 35
2.9.0 NEED FOR COST ESTIMATING 35
2.9.1 COST ESTIMATING PRIOR TO TENDER 36
2.9.2 SINGLE PRICE RATE ESTIMATING 37
2.10.0 COST CONTROL 37
2.10.1 DEFINITION OF COST CONTROL 39
2.10.1.1 COST ANALYSIS 39
2.10.1.2 COST RESEARCH 41
2.10.1.3 COST STUDY 41
2.11.0 COST PLAN 42
2.12.0 APPROXIMATE ESTIMATING 42
2.7.12.0 FACTORS INFLUENCING COST PLANNING OF PUBLIC BUILDING PROJECTS 42
2.12.1 LOCATION FACTORS 43
2.12.2 DESIGN FACTORS 43
2.12.3 QUALITATIVE FACTORS 44
2.12.4 TIME FACTORS 45
2.12.4.1 PROJECT COMPLEXITY 46
2.12.4.2 AVAILABILITY/AMOUNT OF PROJECT INFORMATION 46
2.12.4.3 TECHNOLOGICAL REQUIREMENTS 47
2.12.4.4 CONTRACT REQUIREMENT/ STAGE OF WORK 47
2.12.4.5 TEAM’S/CONTRACTOR’S/CONSULTANT’S EXPERIENCE AND EFFICIENCY 47
2.12.4.6 MARKET REQUIREMENT/STABILITY OF THE MARKET 48
2.13.0 FACTORS AFFECTING COST ESTIMATE /PLAN 50
2.13.1 Cost Information 50
2.13.2 MARKET INFORMATION 50
2.13.3 EXPERIENCE OF Q.S. / ESTIMATOR 50
2.15.0. FACTORS IN SUCCESSFUL COST PLANNING 51
2.16.0 DESIGN METHOD AND COST ADVICE 51
2.16.1 THE RIBA PLAN OF WORK 52
2.17.0 COST DATA 53
2.17.1 PROBLEMS WITH COMPUTER MODELS 53
2.17.2 THE USES OF COST DATA 53
2.18.0 COST PLANNING SERVICES 54
2.18.1 FEASIBILITY STUDIES 54
2.18.2 FUNCTIONAL PROGRAM 54
2.18.3 SCHEMATIC DESIGN 55
2.18.4 DESIGN DEVELOPMENT (PRELIMINARY DRAWINGS 55
2.18.5 WORKING DRAWINGS 56
2.18.6 PRE TENDER 56
2.18.7 TENDER PACKAGE 57
2.18.8 TENDER REVIEW & CONTRACTOR SELECTION 57
2.18.9 FUNCTIONAL COST ANALYSIS 58
CHAPTER THREE 59
RESEARCH METHODOLOGY 59
3.3 INSTRUMENT FOR DATA COLLECTION 60
3.4 PROCEDURE FOR DATA COLLECTION 60
3.4 METHOOD OF DATA ANALYSIS 60
3.5 SOURCES OF DATA 61
3.5.1 PRIMARY SOURCES OF DATA 61
3.5.1.1 RESEARCH QUESTIONNAIRES 61
Section A – Organisation Information 61
Section B – Questions On Cost Planning 61
Section C – Comments And Suggestions 61
3.5.2 SECONDARY DATA COLLECTION 61
CHAPTER FOUR 62
DATA PRESENTATION AND ANALYSIS 62
4.1 PRESENTATION OF DATA FROM QUESTIONNAIRE 63
4.1.1 STRUCTURE OD QUESTIONNAIRE 63
4.2 TESTING OF HYPOTHESES 74
4.3 RESEARCH FINDING 78
CHAPTER FIVE 80
SUMMARY, CONCLUSION AND RECOMMENDATION 80
5.0 SUMMARY 80
5.1 CONCLUSION 81
5.2 RECOMMENDATIONS 82
5.3 CONTRIBUTION TO KNOWLEDGE 84
REFERENCES 85
APPENDIX 87
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