International Journal of Engineering and Science Invention (IJESI) is an international journal intended for professionals and researchers in all fields of computer science and electronics. IJESI publishes research articles and reviews within the whole field Engineering Science and Technology, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
IRJET- Analysis of Cost Overrun in Construction ProjectsIRJET Journal
This document discusses cost overruns in construction projects in India. It begins with an introduction to the construction industry in India, noting that it employs 32 million people and contributes 7-8% to GDP. Cost overruns are a major issue, reducing profits. The document then discusses 1) factors that can lead to higher construction costs such as increasing material and labor costs and 2) that cost overruns occur in most projects and the magnitude varies by project and factors involved. Identifying the causes of cost overruns is the first step to addressing the problem in order to control costs and improve project performance and profitability.
IRJET- Case Study on Budget and Schedule Overrun During the Construction Phas...IRJET Journal
This document discusses a case study on budget and schedule overruns during the construction phase of projects in India. It identifies several key factors that can lead to schedule and budget overruns based on a review of past studies. For schedule overruns, it finds that lack of equipment maintenance, poor procurement planning, and external factors like strikes are critical influencing factors. For budget overruns, it determines that delays in handing over sites, low labor productivity, and contractor delays in material/equipment delivery are important causes. Price inflation is also identified as a major contributor to cost overruns. The study aims to evaluate factors leading to time and cost overruns on construction projects in India in order to improve project success rates.
Cost Overrun Causes Related to the Design Phase in the Egyptian Construction ...World-Academic Journal
This document summarizes a research paper that aimed to identify and evaluate the most significant causes of cost overrun related to the design phase of construction projects in Egypt. Through a literature review and expert interviews, the researchers developed a list of potential cost overrun causes. They then conducted a survey with 101 industry professionals to quantitatively assess the frequency and impact of each cause. The results showed that the most important causes were design changes/variations and unrealistic construction time estimates. The degree of agreement between owners, contractors, architects, and project managers was also analyzed to identify any conflicting perspectives on the causes.
The document discusses five causes of project delay and cost overrun, and their mitigation measures. It identifies the main causes as design errors, scope changes, inappropriate procurement and contractual management, and project complexity. It provides examples of how each cause can lead to delays and cost overruns. The document recommends measures to mitigate each cause, such as thorough design reviews, clear change management plans, selecting qualified contractors and drafting clear contracts, and accounting for complexity in plans and estimates.
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology
IRJET- Review Paper on “Budget and Schedule Overrun in the Construction Phase...IRJET Journal
This document summarizes a research paper that reviewed factors leading to schedule and budget overruns in construction projects in India. The paper analyzed previous studies on this topic and identified common critical factors. For schedule overruns, the most influential factors were found to be lack of equipment maintenance and poor procurement planning. For budget overruns, the top factors were delays in handing over sites and low labor productivity. The study also noted that contractor delays in material/equipment delivery and price inflation contributed significantly to cost overruns. The objectives of this paper were to analyze causes of overruns and their impacts, and provide recommendations to minimize time and cost overruns in construction projects.
causes and implication of delay in constructionsudinak
This document summarizes the M.Sc. thesis presented by Sudina Kuikel to the Nepal Engineering College on local road bridge construction delays. The thesis aims to analyze the present situation of local road bridge construction in Nepal, identify the real causes of delays, study stakeholder perceptions of delays and their effects, and assess the implications of delays. The methodology involves a literature review, analysis of project documents and interviews with clients, contractors and consultants to develop a list of common delay causes and effects. Questionnaires are used to gather stakeholder input on cause and effect rankings, and site observations are conducted for selected case studies. Preliminary findings indicate delays are a major problem, with schedules often revised multiple times. The document outlines the structure
Reasons for the Delay and Cost Overrun in Residential Projects - 2017Sankalp Swarnkar
This work found out the most significant reasons of time and cost overrun for ongoing residential projects, along with this, the study focuses on formulating recommendations for improving construction performance. At the end of this work, I have reached a conclusion that what are common issues that are attributing to time and cost overrun in projects.
IRJET- Analysis of Cost Overrun in Construction ProjectsIRJET Journal
This document discusses cost overruns in construction projects in India. It begins with an introduction to the construction industry in India, noting that it employs 32 million people and contributes 7-8% to GDP. Cost overruns are a major issue, reducing profits. The document then discusses 1) factors that can lead to higher construction costs such as increasing material and labor costs and 2) that cost overruns occur in most projects and the magnitude varies by project and factors involved. Identifying the causes of cost overruns is the first step to addressing the problem in order to control costs and improve project performance and profitability.
IRJET- Case Study on Budget and Schedule Overrun During the Construction Phas...IRJET Journal
This document discusses a case study on budget and schedule overruns during the construction phase of projects in India. It identifies several key factors that can lead to schedule and budget overruns based on a review of past studies. For schedule overruns, it finds that lack of equipment maintenance, poor procurement planning, and external factors like strikes are critical influencing factors. For budget overruns, it determines that delays in handing over sites, low labor productivity, and contractor delays in material/equipment delivery are important causes. Price inflation is also identified as a major contributor to cost overruns. The study aims to evaluate factors leading to time and cost overruns on construction projects in India in order to improve project success rates.
Cost Overrun Causes Related to the Design Phase in the Egyptian Construction ...World-Academic Journal
This document summarizes a research paper that aimed to identify and evaluate the most significant causes of cost overrun related to the design phase of construction projects in Egypt. Through a literature review and expert interviews, the researchers developed a list of potential cost overrun causes. They then conducted a survey with 101 industry professionals to quantitatively assess the frequency and impact of each cause. The results showed that the most important causes were design changes/variations and unrealistic construction time estimates. The degree of agreement between owners, contractors, architects, and project managers was also analyzed to identify any conflicting perspectives on the causes.
The document discusses five causes of project delay and cost overrun, and their mitigation measures. It identifies the main causes as design errors, scope changes, inappropriate procurement and contractual management, and project complexity. It provides examples of how each cause can lead to delays and cost overruns. The document recommends measures to mitigate each cause, such as thorough design reviews, clear change management plans, selecting qualified contractors and drafting clear contracts, and accounting for complexity in plans and estimates.
IJRET : International Journal of Research in Engineering and Technology is an international peer reviewed, online journal published by eSAT Publishing House for the enhancement of research in various disciplines of Engineering and Technology. The aim and scope of the journal is to provide an academic medium and an important reference for the advancement and dissemination of research results that support high-level learning, teaching and research in the fields of Engineering and Technology. We bring together Scientists, Academician, Field Engineers, Scholars and Students of related fields of Engineering and Technology
IRJET- Review Paper on “Budget and Schedule Overrun in the Construction Phase...IRJET Journal
This document summarizes a research paper that reviewed factors leading to schedule and budget overruns in construction projects in India. The paper analyzed previous studies on this topic and identified common critical factors. For schedule overruns, the most influential factors were found to be lack of equipment maintenance and poor procurement planning. For budget overruns, the top factors were delays in handing over sites and low labor productivity. The study also noted that contractor delays in material/equipment delivery and price inflation contributed significantly to cost overruns. The objectives of this paper were to analyze causes of overruns and their impacts, and provide recommendations to minimize time and cost overruns in construction projects.
causes and implication of delay in constructionsudinak
This document summarizes the M.Sc. thesis presented by Sudina Kuikel to the Nepal Engineering College on local road bridge construction delays. The thesis aims to analyze the present situation of local road bridge construction in Nepal, identify the real causes of delays, study stakeholder perceptions of delays and their effects, and assess the implications of delays. The methodology involves a literature review, analysis of project documents and interviews with clients, contractors and consultants to develop a list of common delay causes and effects. Questionnaires are used to gather stakeholder input on cause and effect rankings, and site observations are conducted for selected case studies. Preliminary findings indicate delays are a major problem, with schedules often revised multiple times. The document outlines the structure
Reasons for the Delay and Cost Overrun in Residential Projects - 2017Sankalp Swarnkar
This work found out the most significant reasons of time and cost overrun for ongoing residential projects, along with this, the study focuses on formulating recommendations for improving construction performance. At the end of this work, I have reached a conclusion that what are common issues that are attributing to time and cost overrun in projects.
The document discusses risk factors that influence construction procurement performance in Nigeria. It identifies 20 risk factors through a literature review. A questionnaire was distributed to construction professionals to evaluate the significance of these factors. Corruption, conflict of interest, ineffective project feasibility studies, and lack of transparency were found to be the most significant factors limiting procurement performance. Communication barriers and unconfidential tender evaluations were considered less important. The findings can help improve risk management and procurement systems in Nigeria to enhance overall project performance.
International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research and review articles in the fields of Computer Science, Neural Networks, Electrical Engineering, Software Engineering, Information Technology, Mechanical Engineering, Chemical Engineering, Plastic Engineering, Food Technology, Textile Engineering, Nano Technology & science, Power Electronics, Electronics & Communication Engineering, Computational mathematics, Image processing, Civil Engineering, Structural Engineering, Environmental Engineering, VLSI Testing & Low Power VLSI Design etc.
Construction involves the building or assembling of infrastructure through a complex, multistep process. It requires effective planning and coordination between design teams, financial advisors, and contractors to ensure projects are completed safely, on budget, and meet environmental standards. There are two main types of construction - building construction which includes homes and commercial buildings, and industrial construction for specialized facilities. Large projects require managing numerous interdependent tasks and integrating input from various experts.
The infrastructure construction sectors are usually complex. Zero risk construction projects are only an
assumption. The objective of this paper is to identify the risks factor associated with the urban infrastructure
construction projects causing delay. The research found that those risks are directly associated to clients,
contractors, sub-contractors that would cause delay in the construction work. Other factors are also
identified such as project, financial, political, technical, market risk, managerial, resource risk, and force
majeure. All risk factors affect the time, cost and quality performance of the construction project. From risk
management perspective, it is the process on which identifies the risks and analyzed with qualitatively and
quantitatively. All associated risks can treat by various mitigation processes and then mitigating method are
monitored to control the risks. Risk management distinguishes between success and failure of a project.
So, Nepal could use it effectively to meet its growing need of infrastructure and job opportunity
A Study of Factors Caused for Time & Cost Overruns in Construction Project & ...IJERA Editor
The Construction industry is one of the key economic industry in India and is the main motivating force in Indian national economy. But, it suffers from a number of problems that affect time, cost and quality performances. Successful management of construction projects is based on three major factors i.e. time, cost and quality. The successful completion of construction projects within the specified time has become the most valuable and challenging task for the Managers, Architects, Engineers and Contractors. How to achieve this task is a problem, which should be solved. The overall objective of this study is to identify the factors resposinle for overruns in time and cost of the construction project and suggest the suitable remedial solutions. Poor planning, implementation and management are the main reasons for time and cost overruns in construction projects in India. Since most of the reasons are well known and can be controlled if a proper arrangement is made
Project management for technologies MGT410Saqib Imran
This document provides an overview of project management concepts and processes. It defines project management as applying knowledge, skills, and techniques to meet project requirements through five process groups: initiating, planning, executing, monitoring and controlling, and closing. The document then discusses the characteristics of projects, components of project management like business cases and cash flows, the project life cycle, and the role of the project manager in planning, controlling, and leading a project team.
The alarming rate of project delays in this country needs urgent attention and resolution as one project delay leads to another therefore affecting the growth of any economy or profit-making organization. This alarming rate would possibly go out of one’s hand if strategies are not put in place to curb these phenomena. The Objectives of this research is to critically identify and evaluate the setbacks or factors causing delays in completing projects on time and its effect. The study narrowed its arrows on Prime Ghana projects executed in the country and it was thus conducted with the usage of questionnaires to solicit for the required data for processing. Results from the study divulge that the actual sources of delays in project delivery are; Inadequate financial resources of clients, delays in honoring payment for work done, underestimation of project duration, poor communication between contracting parties, complexity, difficulties in accessing bank credit (client); change orders during construction and others. It was recommended that, initial proper planning and controlling is essential to the client to have proper action plan, procurement plan, and budget plan prepared before commencement of project. Payment schedule must be agreed by the parties involved. On the part of the contractor adequate knowledge of project management, principles, tools and techniques is required to reduce delays. Consultants must plan very well to ensure that contract processes are duly followed, thus approval of drawings, documentation, and other things to reduce variation during construction. They should monitor their assigned work very well by insisting that corrections are done at the appropriate time to reduce or avoid rework.
A STUDY OF VARIOUS FACTORS AFFECTING CONTRACTOR’S PERFORMANCE IN LOWEST BID...IAEME Publication
Real estate sector in present scenario is going through a lean patch, many organisations are either running in loss or with a marginal profits. As in state government and central government departments contractors are facing huge problems that are in turn tending to decrease in contractor profits. The present study focuses on study of various factors that affect contractor’s performance who have been awarded projects on the basis of lowest bid awards. The study analyses various factors and their impacts on the basis of responses collected form a survey. On the basis of overall index and relative importance index factor causing a major impact on contractor’s efficiency have been identified.
Towards Innovate Methods of Construction Cost Management and Controlcivej
Project cost is one of the three main challenges for the construction manager, where the success of a
project is judged by meeting the criteria of cost with budget, schedule on time, and quality as specified by
the owner. Many projects experience extensive delays and thereby exceed initial time and cost estimate.
Available information, good estimating practice and experienced personnel are some of the factors found
to have considerable impact on estimation accuracy. The successful execution of construction projects and
keeping them within estimated cost and prescribed schedules depend on a methodology that requires sound
engineering judgment. So the research aim is to conduct research study and process of exploring the
existing model related to above three types of estimate and their contribution to civil engineering cost
management and control especially getting motivated with the verification and validation component of
CRASP methodology. The objective of this paper or scope of this research in this paper is to conduct
literature study and review towards exploring innovative techniques such as Artificial Intelligence
Techniques or Expert System Techniques available and applicable to make decision making or decision
support regarding construction cost management and control at three levels: (i) before the actual civil
engineering project design begins (ii) after detailed design but before execution and (iii) during project
execution
The document discusses construction management. It notes that the construction industry contributes significantly to the Indian economy and GDP. Construction management is important for large-scale capital projects to control time, cost, and quality. Effective construction management is necessary for economic growth. Construction projects require managing many resources and involve various disciplines, making management and planning essential. Reasons for project overruns include poor cost estimates, resource planning, and schedule management. The document also outlines Henri Fayol's 14 principles of management.
This document provides an overview of engineering economics. It defines engineering economics as the application of economic principles and calculations to engineering projects. It is important because projects must be economically feasible even if technically sound. The document discusses key concepts in engineering economics including present and future value, variable and fixed costs, opportunity costs, and cost-driven design optimization. It also provides formulas and explanations for calculating the time value of money, present value, and future value. Engineering economics allows quantitative evaluation of investment alternatives and feasibility analysis of projects.
IRJET- Project Economic Appraisal Techniques in Construction Industry - A Com...IRJET Journal
This document compares different project economic appraisal methodologies used in the construction industry. It discusses techniques like net present value, discounted payback period, and internal rate of return that are used to evaluate projects. The document also examines other factors considered in appraisals like technical, economic, organizational, managerial, commercial analyses as well as socio-economic and environmental impacts. It provides examples of how to calculate net present value and compares sample projects based on their net present values.
This literature review examines risk factors that impact construction projects in Sri Lanka. It summarizes several studies on risk identification and evaluation in the construction industry in countries like Singapore, Ghana, Nigeria, the UK, and Kuwait. Key risks identified include construction methods, inflation, weather, ground conditions, poor communication, delays in approvals, scope changes, and financing problems. The review indicates that proper risk management is important for construction projects, but that adoption of risk analysis techniques is still limited, especially among small-to-medium firms. Identifying country-specific risks and improving management skills could help minimize delays and cost overruns on projects in Sri Lanka.
First Lecture on Project management, Architectrual Engineering Department, Al...Muhammad Aljalali
This document provides an introduction to project management for building projects presented by Muhammad Aljalali. It discusses the historical context of construction projects, defines what constitutes a building project and its key characteristics. It also outlines the main stakeholders involved in building projects and describes the typical stages of developing and managing a building project from initial planning through to operation. Finally, it discusses the different levels of management involved in building projects from organizational to task-level management.
Managing infrastructure projects requires a professional orientation, especially so in developing economies like India. Herein a materials management and suppl chain management orientation is taken to highlight some of the successful projects.
Management of government funded construction projects in ghanaAlexander Decker
This document summarizes a research study on the causes of delays in construction projects funded by the Ghanaian government. The researchers conducted a literature review to identify potential causes of delays. They developed a questionnaire to gather stakeholders' perspectives on how common various delay factors are in Ghana's public sector construction industry. 36 stakeholders responded, including clients and professionals. The results suggest the major causes of delays are long bureaucratic processes for approving payment certificates and changes, cash flow problems, lackadaisical decision making, inefficient plant/equipment, and limited liquidity. The researchers conclude the client is often responsible for delays.
IRJET- Review on Developing a Model of Risk Allocation and Risk Handling for ...IRJET Journal
This document reviews literature on developing a model for effective risk allocation and handling in construction projects. It identifies several key risks studied in previous research, including insufficient planning, currency price changes, and worker strikes. The literature review found that optimal risk allocation where the best positioned party manages risk can reduce overall project costs. However, previous studies did not assess the effectiveness of risk allocation methods. This paper aims to develop a model to allocate risks to stakeholders and propose mitigation strategies. A mixed methodology is used, including interviews, questionnaires, and qualitative data analysis. The model will help construction parties better allocate responsibilities to manage risks and control impacts on time and cost objectives.
This document analyzes critical factors affecting construction project delays in the Pune region of India. A survey was conducted of construction companies to identify common reasons for delays. 82 potential factors were identified from literature review and categorized into project-level, owner, contractor, consultant, design, material, labor, equipment, and external factors. Respondents provided the frequency and severity of each factor on a scale of 1-5. The Relative Importance Index was calculated by multiplying the frequency and severity indices to rank factors. Legal disputes and ruling party issues in the locality were found to be the most critical factors based on their importance indices. The study aims to identify root causes of delays to help reduce unnecessary delays in future construction projects.
Assessing the performance of local contractors on government projects in the ...Alexander Decker
This document discusses assessing the performance of local contractors on government projects in Akuapem North Municipal Assembly, Ghana. It aims to determine if local contractors have the technical capacity to complete projects, what measures are in place to monitor their performance, and what factors affect their performance. The document provides background on the construction industry in Ghana and importance of performance assessment. It outlines the study's objectives, research questions, scope focused on Akuapem North Municipal Assembly, and methodology which included questionnaires and interviews to collect data from local contractors and municipal staff.
Thought Leadership in the Construction IndustryImagine
Thought leadership (sometimes called "content marketing" or "idea marketing") can one of the most powerful but challenging tools in your marketing toolbox. Sadly, many builders and A/E/C firms have given up trying to develop valuable content, and started dressing up their brochures as thought leadership. While an impressive brochure has its place, it’s not exactly what we’re going for here. With the right approach, B2B companies large and small can leverage their Subject Matter Expertise (SME) and create valuable content that will connect with their customers and drive business results.
The document discusses risk factors that influence construction procurement performance in Nigeria. It identifies 20 risk factors through a literature review. A questionnaire was distributed to construction professionals to evaluate the significance of these factors. Corruption, conflict of interest, ineffective project feasibility studies, and lack of transparency were found to be the most significant factors limiting procurement performance. Communication barriers and unconfidential tender evaluations were considered less important. The findings can help improve risk management and procurement systems in Nigeria to enhance overall project performance.
International Journal of Engineering Research and Applications (IJERA) is an open access online peer reviewed international journal that publishes research and review articles in the fields of Computer Science, Neural Networks, Electrical Engineering, Software Engineering, Information Technology, Mechanical Engineering, Chemical Engineering, Plastic Engineering, Food Technology, Textile Engineering, Nano Technology & science, Power Electronics, Electronics & Communication Engineering, Computational mathematics, Image processing, Civil Engineering, Structural Engineering, Environmental Engineering, VLSI Testing & Low Power VLSI Design etc.
Construction involves the building or assembling of infrastructure through a complex, multistep process. It requires effective planning and coordination between design teams, financial advisors, and contractors to ensure projects are completed safely, on budget, and meet environmental standards. There are two main types of construction - building construction which includes homes and commercial buildings, and industrial construction for specialized facilities. Large projects require managing numerous interdependent tasks and integrating input from various experts.
The infrastructure construction sectors are usually complex. Zero risk construction projects are only an
assumption. The objective of this paper is to identify the risks factor associated with the urban infrastructure
construction projects causing delay. The research found that those risks are directly associated to clients,
contractors, sub-contractors that would cause delay in the construction work. Other factors are also
identified such as project, financial, political, technical, market risk, managerial, resource risk, and force
majeure. All risk factors affect the time, cost and quality performance of the construction project. From risk
management perspective, it is the process on which identifies the risks and analyzed with qualitatively and
quantitatively. All associated risks can treat by various mitigation processes and then mitigating method are
monitored to control the risks. Risk management distinguishes between success and failure of a project.
So, Nepal could use it effectively to meet its growing need of infrastructure and job opportunity
A Study of Factors Caused for Time & Cost Overruns in Construction Project & ...IJERA Editor
The Construction industry is one of the key economic industry in India and is the main motivating force in Indian national economy. But, it suffers from a number of problems that affect time, cost and quality performances. Successful management of construction projects is based on three major factors i.e. time, cost and quality. The successful completion of construction projects within the specified time has become the most valuable and challenging task for the Managers, Architects, Engineers and Contractors. How to achieve this task is a problem, which should be solved. The overall objective of this study is to identify the factors resposinle for overruns in time and cost of the construction project and suggest the suitable remedial solutions. Poor planning, implementation and management are the main reasons for time and cost overruns in construction projects in India. Since most of the reasons are well known and can be controlled if a proper arrangement is made
Project management for technologies MGT410Saqib Imran
This document provides an overview of project management concepts and processes. It defines project management as applying knowledge, skills, and techniques to meet project requirements through five process groups: initiating, planning, executing, monitoring and controlling, and closing. The document then discusses the characteristics of projects, components of project management like business cases and cash flows, the project life cycle, and the role of the project manager in planning, controlling, and leading a project team.
The alarming rate of project delays in this country needs urgent attention and resolution as one project delay leads to another therefore affecting the growth of any economy or profit-making organization. This alarming rate would possibly go out of one’s hand if strategies are not put in place to curb these phenomena. The Objectives of this research is to critically identify and evaluate the setbacks or factors causing delays in completing projects on time and its effect. The study narrowed its arrows on Prime Ghana projects executed in the country and it was thus conducted with the usage of questionnaires to solicit for the required data for processing. Results from the study divulge that the actual sources of delays in project delivery are; Inadequate financial resources of clients, delays in honoring payment for work done, underestimation of project duration, poor communication between contracting parties, complexity, difficulties in accessing bank credit (client); change orders during construction and others. It was recommended that, initial proper planning and controlling is essential to the client to have proper action plan, procurement plan, and budget plan prepared before commencement of project. Payment schedule must be agreed by the parties involved. On the part of the contractor adequate knowledge of project management, principles, tools and techniques is required to reduce delays. Consultants must plan very well to ensure that contract processes are duly followed, thus approval of drawings, documentation, and other things to reduce variation during construction. They should monitor their assigned work very well by insisting that corrections are done at the appropriate time to reduce or avoid rework.
A STUDY OF VARIOUS FACTORS AFFECTING CONTRACTOR’S PERFORMANCE IN LOWEST BID...IAEME Publication
Real estate sector in present scenario is going through a lean patch, many organisations are either running in loss or with a marginal profits. As in state government and central government departments contractors are facing huge problems that are in turn tending to decrease in contractor profits. The present study focuses on study of various factors that affect contractor’s performance who have been awarded projects on the basis of lowest bid awards. The study analyses various factors and their impacts on the basis of responses collected form a survey. On the basis of overall index and relative importance index factor causing a major impact on contractor’s efficiency have been identified.
Towards Innovate Methods of Construction Cost Management and Controlcivej
Project cost is one of the three main challenges for the construction manager, where the success of a
project is judged by meeting the criteria of cost with budget, schedule on time, and quality as specified by
the owner. Many projects experience extensive delays and thereby exceed initial time and cost estimate.
Available information, good estimating practice and experienced personnel are some of the factors found
to have considerable impact on estimation accuracy. The successful execution of construction projects and
keeping them within estimated cost and prescribed schedules depend on a methodology that requires sound
engineering judgment. So the research aim is to conduct research study and process of exploring the
existing model related to above three types of estimate and their contribution to civil engineering cost
management and control especially getting motivated with the verification and validation component of
CRASP methodology. The objective of this paper or scope of this research in this paper is to conduct
literature study and review towards exploring innovative techniques such as Artificial Intelligence
Techniques or Expert System Techniques available and applicable to make decision making or decision
support regarding construction cost management and control at three levels: (i) before the actual civil
engineering project design begins (ii) after detailed design but before execution and (iii) during project
execution
The document discusses construction management. It notes that the construction industry contributes significantly to the Indian economy and GDP. Construction management is important for large-scale capital projects to control time, cost, and quality. Effective construction management is necessary for economic growth. Construction projects require managing many resources and involve various disciplines, making management and planning essential. Reasons for project overruns include poor cost estimates, resource planning, and schedule management. The document also outlines Henri Fayol's 14 principles of management.
This document provides an overview of engineering economics. It defines engineering economics as the application of economic principles and calculations to engineering projects. It is important because projects must be economically feasible even if technically sound. The document discusses key concepts in engineering economics including present and future value, variable and fixed costs, opportunity costs, and cost-driven design optimization. It also provides formulas and explanations for calculating the time value of money, present value, and future value. Engineering economics allows quantitative evaluation of investment alternatives and feasibility analysis of projects.
IRJET- Project Economic Appraisal Techniques in Construction Industry - A Com...IRJET Journal
This document compares different project economic appraisal methodologies used in the construction industry. It discusses techniques like net present value, discounted payback period, and internal rate of return that are used to evaluate projects. The document also examines other factors considered in appraisals like technical, economic, organizational, managerial, commercial analyses as well as socio-economic and environmental impacts. It provides examples of how to calculate net present value and compares sample projects based on their net present values.
This literature review examines risk factors that impact construction projects in Sri Lanka. It summarizes several studies on risk identification and evaluation in the construction industry in countries like Singapore, Ghana, Nigeria, the UK, and Kuwait. Key risks identified include construction methods, inflation, weather, ground conditions, poor communication, delays in approvals, scope changes, and financing problems. The review indicates that proper risk management is important for construction projects, but that adoption of risk analysis techniques is still limited, especially among small-to-medium firms. Identifying country-specific risks and improving management skills could help minimize delays and cost overruns on projects in Sri Lanka.
First Lecture on Project management, Architectrual Engineering Department, Al...Muhammad Aljalali
This document provides an introduction to project management for building projects presented by Muhammad Aljalali. It discusses the historical context of construction projects, defines what constitutes a building project and its key characteristics. It also outlines the main stakeholders involved in building projects and describes the typical stages of developing and managing a building project from initial planning through to operation. Finally, it discusses the different levels of management involved in building projects from organizational to task-level management.
Managing infrastructure projects requires a professional orientation, especially so in developing economies like India. Herein a materials management and suppl chain management orientation is taken to highlight some of the successful projects.
Management of government funded construction projects in ghanaAlexander Decker
This document summarizes a research study on the causes of delays in construction projects funded by the Ghanaian government. The researchers conducted a literature review to identify potential causes of delays. They developed a questionnaire to gather stakeholders' perspectives on how common various delay factors are in Ghana's public sector construction industry. 36 stakeholders responded, including clients and professionals. The results suggest the major causes of delays are long bureaucratic processes for approving payment certificates and changes, cash flow problems, lackadaisical decision making, inefficient plant/equipment, and limited liquidity. The researchers conclude the client is often responsible for delays.
IRJET- Review on Developing a Model of Risk Allocation and Risk Handling for ...IRJET Journal
This document reviews literature on developing a model for effective risk allocation and handling in construction projects. It identifies several key risks studied in previous research, including insufficient planning, currency price changes, and worker strikes. The literature review found that optimal risk allocation where the best positioned party manages risk can reduce overall project costs. However, previous studies did not assess the effectiveness of risk allocation methods. This paper aims to develop a model to allocate risks to stakeholders and propose mitigation strategies. A mixed methodology is used, including interviews, questionnaires, and qualitative data analysis. The model will help construction parties better allocate responsibilities to manage risks and control impacts on time and cost objectives.
This document analyzes critical factors affecting construction project delays in the Pune region of India. A survey was conducted of construction companies to identify common reasons for delays. 82 potential factors were identified from literature review and categorized into project-level, owner, contractor, consultant, design, material, labor, equipment, and external factors. Respondents provided the frequency and severity of each factor on a scale of 1-5. The Relative Importance Index was calculated by multiplying the frequency and severity indices to rank factors. Legal disputes and ruling party issues in the locality were found to be the most critical factors based on their importance indices. The study aims to identify root causes of delays to help reduce unnecessary delays in future construction projects.
Assessing the performance of local contractors on government projects in the ...Alexander Decker
This document discusses assessing the performance of local contractors on government projects in Akuapem North Municipal Assembly, Ghana. It aims to determine if local contractors have the technical capacity to complete projects, what measures are in place to monitor their performance, and what factors affect their performance. The document provides background on the construction industry in Ghana and importance of performance assessment. It outlines the study's objectives, research questions, scope focused on Akuapem North Municipal Assembly, and methodology which included questionnaires and interviews to collect data from local contractors and municipal staff.
Thought Leadership in the Construction IndustryImagine
Thought leadership (sometimes called "content marketing" or "idea marketing") can one of the most powerful but challenging tools in your marketing toolbox. Sadly, many builders and A/E/C firms have given up trying to develop valuable content, and started dressing up their brochures as thought leadership. While an impressive brochure has its place, it’s not exactly what we’re going for here. With the right approach, B2B companies large and small can leverage their Subject Matter Expertise (SME) and create valuable content that will connect with their customers and drive business results.
This document discusses the role of leadership in construction projects. It defines leadership as the potential to influence others' behavior to achieve goals and accomplish a shared vision. Effective leadership requires interpersonal skills, intelligence, and the ability to motivate others. In construction projects, leaders at all levels help motivate teams, build morale, coordinate work, and create a collaborative work environment. The document contrasts good leadership, which involves listening, coaching, and communicating a clear vision, with bad leadership, which lacks support and information sharing. Key attributes of strong leaders are having a vision, communication skills, knowledge, and a sense of responsibility. The document also outlines different leadership styles used in construction project planning, organizing, directing work, and controlling outcomes.
Effective Leadership in the Construction IndustryLuke O'Rafferty
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Running head IMPLEMENTATION STRATEGIESIMPLEMENTATION STRATEGIES.docxcowinhelen
Running head: IMPLEMENTATION STRATEGIES
IMPLEMENTATION STRATEGIES 4
Implementation Strategies
Michael Boddie
Application Implementation
CMGT/445
Michael Goyden
December 11, 2017
Introduction
Project communication is very critical to the success of any project. It is also critical to key project management soft-skill. As a project manager, project communication is one deliverable that they are personally responsible for and it was of the largest influence over the failure or project success. There are main elements of project communications examples are project sponsors, customers, project team members, project manager, and project management office.
Project communication plan
The major objectives of a communication plan are; to encourage the use of project management best practices, ensure a consistent, give accurate and timely information about the project, and to promote and gain support for the project management improvements.
Table 1 below shows the target audience
Project stakeholders
Message
Delivery method
Delivery Frequency
Communicator
Project Sponsor
Project plans and status report
Meeting
Report sent via mail to project sponsor
Weekly
Project manager
Project core team
Project plans
Meeting
Weekly
Project manager
Executive management
Project briefing
Oral briefing and presentation of slides
Monthly
Biweekly
Project manager
Programmers
Project briefing
Oral briefing
Daily
Project manager
Users
Project status
Meeting and presentation slides
Weekly
Project manager
Communication message contents
A project plan shoes a guide of project execution and project control. Then document also shows approved scope of the project, the cost, and schedule. Project plans shows the current and future plans. The documents also shows project problems and issues. Project plan also shows planned project deliverables for the next period. The status report, keeps the key project stakeholders informed. It is shows status summary, status budget, status scope, accomplishment, issues, and project team members. Project briefing shows project issues and problems, it also shows goals of project management improvement, and project checklist (Project Management Institute, 2017).
Documentation Required
There are eight essential documents required for this project. First is a project charter. This document formally recognizes the project creation and the formal contract between project sponsors, project stakeholders, and commercial agreement. Project charter documents gathers aspects related to the contracting and the contacted example is the project name, the goals of the project and the needs that the project it serves. Project charter also shows a brief description of the project, feasibility study, the project products i.e. training manuals, supporting, and monitoring post release of the project. A project charter also shows the intermediate products whic ...
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The triple constraint is sometimes referred to as the project management triangle or the iron triangle. In the typical triangular model, scope, schedule and cost are constraints that form the sides of the triangle, with quality as the central theme. (An alternative to the triangle, the project management diamond, adds quality as the fourth side of the model and changes the central theme to customer expectations.)
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International Journal of Engineering and Science Invention (IJESI)
1. International Journal of Engineering Science Invention
ISSN (Online): 2319 – 6734, ISSN (Print): 2319 – 6726
www.ijesi.org || Volume 2 Issue 12 || December. 2013 || PP.65-71
Project Cost Control in the Nigerian Construction Industry
C.I. Anyanwu
Department of Project Management Technology
School of Management Technology
Federal University of Technology, PMB 1526, Owerri
ABSTRACT: The construction industry being solely responsible for economic growth of the nation will base
on the government’s fiscal policy and budget the formulation of its own policy plan on how to carry out
development within that budget and equally give the nation a healthy developed environment. Besides, the
overall aim of cost control and management is to make sure that scarce resources are utilized to the optimum
benefits of the main parties to a construction contract. That means that design and execution of a project should
produce maximum value for money. Given therefore, the high cost rate of money for construction resources and
high interest in this dwindling, deregulated and depressed economy, it is pertinent that efficient costing should
be a very strong element in project design and implementation.
The economic aspects of construction are complicated by the fact that the functions of design and
production are generally separated. At the design stage, the designer will usually not know the methods and
equipment available to the contractor who may ultimately build the project, and who is directly responsible for
the materials used, which for most buildings account for about two-thirds of the total cost of the project. This is
not to suggest that the contractor has no contribution to make, but since the labour which he controls, cost only
about half that of the materials, his efforts can easily be nullified by any design which makes excessive or
unnecessary use of materials. This will have serious adverse effect on the project cost, its execution and
completion date and may lead to delay and outright abandonment.
The need to have cost data available from the earliest stages of the design has encouraged the
development of methods of "cost planning" and the wider application of such techniques if cost is to become as
it should be, an integral part of design. All these should be geared towards effective cost management and
control as a solution to project abandonment.
Management is a leading factor in any investment. Prosperity breeds mismanagement. Paradoxically,
management is the single factor which forces an upturn in a recession. Management is the single factor which
separates prosperity and recession. It is the resources well managed or mismanaged today that makes for
tomorrow's prosperity or depression. The economic depression we are now facing is more out of
mismanagement of resources than lack of resources. The key to the success of our construction investment
industry is professional management. There is urgent need for innovations in the cost management of our
construction resources for viable products. The vital question however is whether the Project Manager being
the construction cost planner is economizing enough the variables that affect the cost of construction which are
supposed to be under his control in other to bring down cost of construction to a tolerable level. This is the main
focus of the study to unveil the management philosophy, practice and inputs to be affixed in evaluating and
monitoring construction cost in order to reduce project abortion and abandonment, which are caused by project
cost overruns.
Key Words: Project Cost, Cost control, Construction Industry, Project abandonment, Cost over-run, Time
over-run, Project delay, Project Management.
I.
THE PROBLEM
In Nigeria, many construction Projects development have failed owing to the various technical and financial
pressures of cost limit, quality and value optimization. Jagboro and Banalola (2005) wrote that the interim report of the
Presidential panel on contracts at the wake of the present democratic government in Nigeria confirmed a staggering amount
of over four hundred and fifty billion naira for project which can be classified as failed contracts, spanning from 1979 to
1998. The main reason for this is not far-fetched as many of the professional firms involved in project administration lack
adequate management inputs in both quantitative and qualitative terms.
Another reason for this high rate of projects abandonment and failed contracts in Nigeria, is that in most
government projects, the mobilization fee which is given to the contractor is reimbursed to those who awarded the contract
as "bribe" usually of huge sums of money and this thereby increases the cost of the project, affects the quality of job
executed by the contractor and will also leave the project either unexecuted or abandoned. This is because the money meant
for the project execution have been diverted into individual pockets(Osemenam, 2004).
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65 | Page
2. Project Cost Control in the Nigerian Construction Industry
However, the design of building and other infrastructure is predicated on different contributors exhibiting various
professional skills with a view to obtaining an optimum design solution. These inputs are based on the understanding of
design and execution parameters ranging from functionality and usefulness of the project, aesthetics and appearance, safety
of the structure, quality of workmanship, cost and financial matters and most importantly clients satisfaction with the project
on completion. Business everywhere is faced with everyday challenges for survival and the need to adapt is very important.
Appointing the project manager at the right time and seeking his professional advice for cost matters is a very key problem
in the Nigerian construction delivery.
II.
LITERATURE SURVEY
The term "cost" is ambiguous since it has several different meanings to different persons. To a financial or cost
accountant, it means the main elements which go to make a product, hence basically classifying cost into material, labour
and equipment cost. Hanson (2004) defined cost as "the cost of producing a certain output of a commodity. It is the sum of
all the payments to the factors of production engaged on the production of that commodity".
Enyi (2007) refers to cost as "the expenses incurred on the course of realizing a revenue or implementing a project,
this cost are fixed, variable and semi - variable in nature" To the "Pure" economist, cost must be viewed in realistic terms, in
which case the real cost of any product or services is the cost of the alternative that was foregone. For instance, if a client has
amount of money say N1,000,000.00 and is faced with the choice of erecting a residential building or a factory and the said
client settles for the residential building, the real cost of the residential building is the factory that was forgone. The
principles of barter economics (without the use of money) is very explicit and respected in this approach.
Besides, as stated in the oxford dictionary that cost is the price to be paid or amount of money needed for
something, this means that cost is the actual liquid cash or money required for an exchange of goods and services. However,
with respect to building works, Ferry 2004 highlighted that cost signifies cost to the client as distinct from the cost of labour,
plant and materials incurred by contracting and sub-contracting organization. Hence, it implies the amount which the client
will have to pay the contractor to construct the building but not the actual cost to the contractor of building it. Precisely, it is
the amount paid by the client for either completed building or for specific section of building.
Moreover, Oforeh and Alufohai (2006) wrote that "to the construction economist, the products of the industry are
regarded life objects that remain active throughout their life span. In the process of its existence or activity, some other
elements of costs arise, aside from the initial costs. The true cost of a project therefore is an integral of the birth and lifetime
cost of the project analyzed over anticipated and defined minimum quality or standard of performance."
On the other hand, management as defined by Stoner and Wankel is "the process of planning, organizing, leading
and controlling the efforts of organizational members and of using all other organizational resources to achieve stated
organization goals. Hall (2007) in his write up, defined management broadly as "getting things done through other people"
so as to include top management and lower level management. Thus, there are many systems, techniques, approaches and
tools of management. Management includes subjects like human relations, operational research, quantitative techniques,
project management, Administration etc.
Thus, from the above definitions and reviews of cost and management, "the concept of cost management" in this
research work is concisely defined as the process of utilizing the construction cost related resources of the construction subdesignated objectives. This definition treats the subject matter as a process of getting things done through working with
people and using other resources. This is a fact because no project success can be achieved without proper integration of the
project organization and actors.
More so, it has been well established that the activity costs otherwise known as maintenance costs or cost - in always affect the initial cost of a project in many ways consequently, various initial costs may be possible for the same
project subject to the quality and performance anticipated. Therefore, the approach of the construction economist is based on
both the realistic and actualistic concepts against a background of identifiable performance related factors considered over
time. This approach is the basis of cost planning executed by project managers on individual projects at the micro economic
level of construction. Subsequently, apart from decision making, the task before the Project Manager can broadly be
classified into cost planning and cost control.
III.
COST BUDGETING
The concept budget defines the translation of an organizational plan into concrete form by way of resources
allocation in form of cash. A budget is made up of two sides - Expenditure and Revenue. Just as budget have been used to
plan country's economy, firms have been compelled because of the growing complexity in the construction industry to draw
up budgets. It is through budgets that plans can be executed. Budgets are used to convert such plans and policies into
qualitative and monetary terms which form the fundamental objectives of the firm. The process of budget estimates is used
by firms to decide on policies of either expansion, contraction or maintaining the statuesque. It is this process which helps to
shape the policy of the firm as regard future line of action depending on the market situation. The execution of any project
by a contractor requires cost control.
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3. Project Cost Control in the Nigerian Construction Industry
Cost control is done by way of project planning and scheduling using different types of qualitative techniques
available to the industry. The logic of these planning is to enable the contractor to exercise an effective control over his
resources. It is the duty of the management team to ensure that task are carried out in accordance with the planned line of
action. Fresh plans are prepared when changes are necessary and unavoidable . It is the desire to achieve these planned line
of action that a system of monitoring has to be initiated.
IV.
COST MONITORING AND CONTROL SYSTEM
Controlling and monitoring of projects occurs when you establish ways to track the course of all activities and
events in the project. As project is always a dynamic entity since it must respond to changing conditions if it is to be
completed successfully. It is carried out in an environment of ceaseless change and there is a continual need for re assessment and re-appraisal of the project plan. Among the factors liable to alter the course of a project includes such
changes in:
The technical specification of the project.
The project complete date.
Budget considerations.
Relative priorities of projects.
Revision of activity duration estimates.
Re-assessment of resource requirement for individual activities.
Technical difficulties or construction methods.
Unexpected weather conditions.
Working conditions
The economy
Resource availability
Management and among others.
However, some of these changes will have a pronounced impact on the project while others have a mere subtle
one. Either way, the changes could affect the project in terms of quality, quantity of work, cost and time. To fully avoid this,
a proper cost monitoring and control system must be established. At the onset, there is an important difference between
monitoring and control.
Monitoring is finding out the state of play. It is has to do with reporting whether one is measuring money or time
or any other property in which one is interested. It is a vital pre-requisite to control but it is a tool needed by control rather
than a substitute for it.
Control is taking whatever steps that are necessary to vary or alter a pattern of events. It is a positive and active
operation which its success can be judged by subsequent events. Taking decisions in the exercise of control demands sound
information which is the result of good monitoring.
V.
SCHEDULE MONITORING
When a project is monitored to determine if everything is proceeding as scheduled, data collection along the
following lines is necessary in order to detect the type of problems one might likely encounter:
Collect information on any differences between estimated start dates and actual start dates for each activity.
Determine any differences between estimated finish dates and actual finish dates for each activity of the entire project.
Any unexpected delays or other abnormalities that alter the project's completion date.
Any activities performed out of network sequence.
Any milestone activities that appear unachievable.
Once the above stated information is collected and analyzed, a series of actions to rectify any situation can be
performed. For example, a schedule can be up dated by re-assessing the duration of specific activities or one can re-sequence
or eliminate activities reflected in the current version of his/her programme chart.
VI.
RESOURCE MONITORING
To complete a project, three main resources are usually expanded: man, materials and equipment. When left
uncontrolled, the cost associated with utilizing these resources will likely escalate, so there is need to really track closely the
use of these resources.
Resources utilization could be determined in basically three ways: meeting, inspections and forms. Meetings
(especially site) provide one with the opportunity to acquire information rapidly. Inspections allow one to witness what and
how certain resources are being used by staff and other subordinates. While forms allow one to quantitatively determine the
amount of resources being used and the cost associated with using those resources. In addition, forms serve as an excellent
historical record on what occurs throughout the project.
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4. Project Cost Control in the Nigerian Construction Industry
VII.
BUDGET MONITORING
A project is monitored to determine whether the progress is proceeding according to budgeted plans and one of the
aim is to determine the overall financial condition of the project. This could be accomplished by detecting quantitative
variation at any given point in time, either for a specific activity or the entire project. One can accumulate cost data from a
series of sources, usually related to manpower, materials, overhead and other changes, compare the actual accumulated data
for a particular activity or the entire project with the estimated cost. Analyze any difference variances and take such actions
as curtailing resources devoted to a project on selecting alternative materials.
VIII.
COST CONTROL
Control is defined as to check, verify or regulate. Planning enables management to establish realistic standards
against which performance can be matched during contract. Cost control is used to maintain the cost within the budget by
forecasting the expected cost through frequent short term planning exercises. Olateju (2003) emphasizes that the main
objectives of monitoring and control are to ensure that the overall period of completing a project is not exceeded and this is
achieved at the minimum cost.
IX.
MATERIALS COST CONTROL
The prime purpose of material costing is to ensure that purchases do not exceed the planned
distribution of budgeted expenditure for the project. As reported by Ibrionke (2004), the building establishment
defines material control as covering realistic design, specification and procurement of good, their packaging,
handling, storage and protection after fixing. The procurement of material is based on the material schedule
already prepared during pre-contract planning so that any shortfall or excess can easily be determined during the
project execution. Recovering report form, purchase order, material (store) requisition form are typical standard
documents needed for material monitoring and control. Other important documents are invoices, delivery notes,
advice notes, among others. All these are to ensure good financial discipline and proper material cost control.
X.
LABOUR COST CONTROL
This involves the use of labour time and cost reports. Labour time card reports the hours of time for
every trade man and the project cost codes to which the labour is applied. Also, the foreman or supervisor
should record the hours spent by site labour.
The total gross payroll can then be debited to a labour variance account on a weekly basis and the
weekly summary of man hours spent on each activity can be used to debit the labour cost to each activity
account. The total of these debits can then be credited to the labour variance account. This man-hour have a dual
purpose in placing the proper perspective on labour costing both for project control and for future estimating.
XI.
EQUIPMENT (PLANT) COST CONTROL
Since equipment costs are usually expressed as a time rate of expense, time reporting is an important
step in equipment cost reporting (Udoh 2004). The procedure for the preparation of equipment cost report is
similar to that of labour. Equipment cost are matched with the corresponding quantities of work produced. The
reports tend to summarize all equipment cost incurred on the project up to the effective date of the report. It
helps to compare the estimated (as in plant schedule) with the actual equipment unit cost for each type of work.
XII.
SUB - CONTRACTS
Sub contract performance and costing would be treated as a similar fashion to materials. Separate
orders would be issued for each services to be performed and the accounting would be identical. It is essential in
this case that the sub contractor in submitting his quotation is made fully aware of the implications of the system
and of the effect on the project duration of his activities. In addition, certain specific event or milestones should
be included in the network for an assessment of the sub contractor's performance and his progress payment
would be tied to these control events. During the execution of the contract, it is necessary for all parties to cooperate in any desirable re-planning and to define and evaluate variations promptly so that modifications may be
incorporated into the networks timely.
XIII.
OVERHEADS AND INDIRECT COSTS:
Overheads and indirect cost are as much part of the project as the direct cost just described. Examples
of indirect cost are cost of project services (Telephone, mail office, maintenance, utilities, indirect labour
(materials handling, production control, etc) and other functions or area making a cost contribution to the work
packages which may be difficult to measure directly. Many firms handle these costs by adding a fixed
percentage to the direct cost of a work package or by distributing them pro rata (in proportion) to the total cost
of the work package.
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5. Project Cost Control in the Nigerian Construction Industry
However, the tools used by management and cost supervisors for planning, monitoring and controlling
of projects include among others.
The Gantt chart and
The network analysis which comprises
Critical path method (CPM)
Performance evaluation and review techniques (PERT)
XIV.
THE GANTT CHART
Gantt Charts (commonly wrongly called gant charts) are extremely useful project management tools.
The Gantt Chart is named after US engineer and consultant Henry Gantt (1861-1919) who devised the technique
in the 1910s.
Gantt charts are excellent models for scheduling and for budgeting, and for reporting and presenting
and communicating project plans and progress easily and quickly, but as a rule Gantt Charts are not as good as a
Critical Path Analysis Flow Diagram for identifying and showing interdependent factors, or for 'mapping' a plan
from and/or into all of its detailed causal or contributing elements.
You can construct a Gantt Chart using MS Excel or a similar spreadsheet. Every activity has a separate
line. Create a time-line for the duration of the project (the breakfast example shows minutes, but normally you
would use weeks, or for very big long-term projects, months). You can colour code the time blocks to denote
type of activity (for example, intense, watching brief, directly managed, delegated and left-to-run, etc.) You can
schedule review and insert break points. At the end of each line you can show as many cost columns for the
activities as you need. The breakfast example shows just the capital cost of the consumable items and a revenue
cost for labour and fuel. A Gantt chart like this can be used to keep track of progress for each activity and how
the costs are running. You can move the time blocks around to report on actual versus planned, and to reschedule, and to create new plan updates. Costs columns can show plan and actual and variances, and calculate
whatever totals, averages, ratios, etc., that you need. Gantt Charts are probably the most flexible and useful of
all project management tools, but remember they do not very easily or obviously show the importance and interdependence of related parallel activities, and they won't obviously show the necessity to complete one task
before another can begin, as a Critical Path Analysis will do, so you may need both tools, especially at the
planning stage, and almost certainly for large complex projects.
A wide range of computerized systems/software now exists for project management and planning, and
new methods continue to be developed. It is an area of high innovation, with lots of scope for improvement and
development. I welcome suggestions of particularly good systems, especially if inexpensive or free. Many
organizations develop or specify particular computerized tools, so it's a good idea to seek local relevant advice
and examples of best practice before deciding the best computerized project management system(s) for your
own situation.
Project planning tools naturally become used also for subsequent project reporting, presentations, etc.,
and you will make life easier for everyone if you use formats that people recognize and find familiar.
XV.
THE NETWORK ANALYSIS
Network analysis is a method of planning and controlling cost by recording their inter-dependency in a
diagrammatic form that enables each fundamental problem involved to be tackled separately. Network analysis techniques
achieve their purpose in three broad steps:
(A) They present a diagrammatic form and picture of all the jobs (or activities) to be done and of their dependency on one
another.
(B) They consider the limitations imposed by the availability of estimate and the time required to do each job.
(C) They apply the estimated job time to the network diagram and then analyses the network. Analysis in this case means
the calculation of the total length of time involved in path through the network.
Network analysis comprises the critical path method (CPM) and the performance evaluation and review techniques
(PERT). The CPM network diagram unlike the Gantt chart provides enough detailed information to assess the effect of a
delay associated with any particular phase or activity. The CPM diagrams provides more "Micro" information than "Macro"
information i.e., it provides more specification to evaluate the progress of a project.
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6. Project Cost Control in the Nigerian Construction Industry
The major advantage of the CPM is the clear identification of the critical and non-critical activities which helps in
the diversion of construction resources when necessary especially when there are delays in critical activities. The
performance evaluation and review techniques (PERT) is best for new and complex projects with extreme degree of
uncertainty. To update CPM diagrams, one need to collect information, otherwise the diagram becomes merely a historical
document rather than an action tool. One can collect information from many sources including existing documentation,
meeting and discursion with project participants.
XVI.
METHODOLOGY
Based on the objectives of the study, the research data was collected from construction companies in Port Harcourt
Rivers State and analyzed.
Information gathered from these firms is believed to be able to be a representative result of the population of
construction firms that could be expected to use cost management and control process in the execution of projects.
Generally, data were sourced from two main sources. Primary and secondary data sources were collected by means
of personal interviews and questionnaire distributed to construction industry principal actors/participants both in public and
private sector of the economy.
Also secondary data collection was based mainly on the review of related past literature and write ups on Nigerian
economy and construction cost management. Detailed references were made to books, journals, conference/seminar papers,
News papers reports and other forms of published materials that were considered relevant to the research subject matter.
XVII.
RESULTS AND DISCUSSION
Since the evolution of cost management and its subsequent application in the building industry, the
practitioners/consultants have desired numerous benefits from the effectiveness thus commending it for its more functional
and practical approach to cost control of project.
Various management techniques especially planning have been developed. Such planning tools like the Network
analysis and bar-chart have helped in the early planning of construction projects on which the application of other cost
project management techniques are based. As the work progresses on the site, more planning like - term planning is carried
out so as to maintain the initial programme. Such techniques like organization, supervision, implementation and control are
equally applied on already plan so as to make sure that there are no deviations on the original master programme.
The rising cost of building materials nowadays and the ultimate astronomical increase in the cost of construction
projects calls for adequate application of cost management principles so as to reduce or eliminate the cost of projects. When
management techniques are appropriately utilized during the construction of any price of work right away from the planning
stage to the completion period exhausting all other principles of cost management, the cost of such a scheme must be within
the target cost.
Just as construction is money, the development of cost management and its right application as a tool for cutting
down cost can best be done by such professional like the Quantity surveyor who should receive a further training in the art of
cost management. The training of a Quantity surveyor like other professional (Architects, Builders, Engineers, Estate
Managers etc) does not expose him so much to the principle and application of project management in the field. However the
programme of master degree level where he can learn purely project management puts him in the best footing as a building
cost accountant with embodiment of project management. With his full knowledge of cost and project management he can
then apply this best in the cost control of project.
Most of the abandoned building projects are as a result of poor or total lack of project management and as such no
cost control of such schemes. The teaching of project management in line with cost control measures should be therefore be
included in the programmes in the training of the professionals especially the Quantity Surveyor whose knowledge of cost
outweighs any other professional in the building industry. Therefore, construction industry will continue to experience peace
if project management being a tool modeled to control cost of projects is strictly adhered to.
XVIII.
RECOMMENDATIONS
In order to achieve the tremendous benefits of cost management as means of cost control, the cost manager must
adhere strictly to the information contained in the overall programme chart and make changes where ever necessary and
applying both his personal experience and intelligence at the same time. All other professionals, operatives and even the
client should be capable of carrying out their own part of the task effectively and in time too. The cost manager (E.G the
Quantity surveyor trained specifically for the purpose) should also exhibit the foresight of an average reasonable man in
predicting and arresting those inherent constraints that are associated with building projects which may either retard the
progress of the work or extend the pre-determined project duration. He should carry out his function with reasonable care
and skill.
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7. Project Cost Control in the Nigerian Construction Industry
To this end and in line with the research questions stated earlier, I recommend the following solutions or strategies as a
means for improving capital project management under the current economic situation in Nigeria.
The need for change management: Cost managers of construction industry should enhance the inevitability of change
because predicting business outcomes in a volatile and depressed economic environment is unquestionable and a
herculean task. Hence, they should therefore design suitable framework for change management by evolving
techniques which could assist in assimilating and adapting to changes.
Effective cost planning, monitoring and control should be vigorously pursued by both the client and the contractor as
this will help to keep track of progress in implementation of project in relation to targets, timely removal of constraints
and corrective actions taken as required. This is because we cannot keep productivity at a high level in the
construction industry without adequate planning of the business. to this end, whatever the level of uncertainty, we just
cannot do without planning.
Awards of government contracts should be to the professionals on competitive bidding and not for someone who is
"highly connected" so that meaningful and total management should be achieved without dubious manipulation.
There are several natural resources such as stones, clay, limestone in the country which can be tapped and utilized and
this will facilitate the development of indigenous construction materials industry and reducing the volume of imports.
More encouragement by way of better condition of service, annual bonus and better pay should be given to the
workers and management at the various government owned companies e.g. cement industries etc to make them put in
their best and help reduce the shortage of these essential construction materials.
XIX.
CONCLUSIONS
It is the resources well managed or mismanaged today that makes for tomorrows prosperity or depression. the
economic depression we are now facing is more out of mismanagement of resources than lack of resources.
The key to the success of our construction investment industry is professional management. There is urgent need
for innovations in the management of our construction resources for a viable product as the relationship between inflation
and cost of construction is directly proportional. However, in the type of economic environment x-rayed in the above
chapters, the point has been made clear that the task before cost managers of the construction industry under such conditions
are more difficult than in normal conditions. Nevertheless, it creates special challenges for managers of construction cost
and/or industry to ensure the survival and structural strength of their organization. This can be achieved only through optimal
use and management of construction resources.
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