FACTORS INFLUENCING THE COST PLANNING OF A PUBLIC BUILDING PROJECT

90 PAGES (19946 WORDS) Estate Management Project





text-align:center;line-height:normal" align="center">ABSTRACT






36.0pt;line-height:normal">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






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text-align:center;line-height:normal" align="center">TABLE OF

CONTENTS






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normal">DEDICATIONDEDICATION 






normal">ACKNOWLEDGEMENT       






normal">TABLE OF CONTENTS         






normal">CHAPTER ONE: INTRODUCTION   






normal">1.1BACKGROUND OF THE STUDY






normal">1.2   STATEMENT OF THE

RESEARCH PROBLEM






normal">1.3RESEARCH QUESTIONS 






normal">1.4SIGNIFICANCE OF THE STUDY 






normal">1.5.0
1">   
AIM AND OBJECTIVES        






normal">1.5.1
1">   
AIM    






normal">1.5.2 OBJECTIVES    






normal">1.6STATEMENT/RESERCH OF

HYPOTHESIS         






normal">1.7   RESEARCHMETHODOLOGY  






normal">1.7.2 QUESTIONNAIRE/FIELD SURVEY    






normal">1.8SCOPE AND LIMITATION          






normal">1.8.1SCOPE
1">    






normal">1.8.2LIMITATION     






normal">CHAPTER TWO         






normal">LITERATURE REVIEW         






normal">2.1
1">      
HISTORICAL DEVELOPMENT OF COST PLANNING
1">        






normal">2.2.0CONCEPT OF COST PLANNING          






normal">2.2.1 ADVENT OF COST PLANNING          






normal">2.2.2USES OF COST PLANNING      






normal">2.2.3  Cost Planning the

Brief 






normal">2.2.4  PRELIMINARY COST

PLANNING     






normal">2.2.5
1">  
Cost Planning Reports 






normal">2.2.6    THE ROLE OF

THE COST PLANNER          






normal">2.3.0
1">   
COST PLANNING TECHNIQUES     






normal">2.3.1
1">   
VARIOUS COST PLANNING TECHNIQUES           






normal">2.3.1.1 Easy Cost Planning (ECP)       






normal">COST PLANNING     






normal">2.5.2  ELEMENTAL ESTIMATES      






normal">The cost plan  






normal">2.7.1.2.1          ELEMENTAL COST ANALYSIS       






normal">2.7.1.2.2          PREPARATION OF ELEMENTAL COST PLAN       






normal">2.7.1.3    PHASE 3 –

COST CHECKING       






normal">2.7.2      

 COMPARATIVE COST PLANNING         






normal">2.7.2.1  PHASE I – ESTIMATE          






normal">2.7.2.2
1">
PHASE 2 – COST PLAN       






normal">2.8.0    COST IN USE –

THEORY     






normal">2.8.1    COST IN USE

AND COST PLANNING         






normal">2.9.0     NEED FOR COST

ESTIMATING      






normal">2.9.1    COST

ESTIMATING PRIOR TO TENDER    






normal">2.9.2   SINGLE PRICE RATE

ESTIMATING 






normal">2.10.0
1"> 
COST CONTROL       






normal">2.10.1
1">
DEFINITION OF COST CONTROL   






normal">2.10.1.1      COST

ANALYSIS           






normal">2.10.1.2
1">          
COST RESEARCH     






normal">2.10.1.3
1">          
COST STUDY






normal">2.11.0
1"> 
COST PLAN   






normal">2.12.0              APPROXIMATE ESTIMATING         






normal">2.7.12.0
1">          
FACTORS INFLUENCING COST PLANNING OF PUBLIC  

BUILDING PROJECTS         






normal">2.12.1
1">
LOCATION FACTORS          






normal">2.12.2
1">
DESIGN FACTORS    






normal">2.12.3
1">
QUALITATIVE FACTORS    






normal">2.12.4
1">
TIME FACTORS        






normal">2.12.4.1
1">          
PROJECT COMPLEXITY      






normal">2.12.4.2
1">          
AVAILABILITY/AMOUNT OF PROJECT INFORMATION 






normal">2.12.4.3
1">          
TECHNOLOGICAL REQUIREMENTS          






normal">2.12.4.4
1">          
CONTRACT REQUIREMENT/ STAGE OF WORK
1">   






normal">2.12.4.5
1">         
TEAM'S/CONTRACTOR'S/CONSULTANT'S EXPERIENCE AND EFFICIENCY    






normal">2.12.4.6
1">          
MARKET REQUIREMENT/STABILITY OF THE MARKET 






normal">2.13.0
1"> 
FACTORS AFFECTING COST ESTIMATE /PLAN
1">   






normal">2.13.1
1"> 
Cost Information        






normal">2.13.2    MARKET

INFORMATION  






normal">2.13.3    EXPERIENCE OF

Q.S. / ESTIMATOR         






normal">2.15.0.
1">
FACTORS IN SUCCESSFUL COST PLANNING      






normal">2.16.0
1">
DESIGN METHOD AND COST ADVICE     






normal">2.16.1  THE RIBA PLAN OF

WORK 






normal">2.17.0
1"> 
COST DATA  






normal">2.17.1   PROBLEMS WITH

COMPUTER MODELS  






normal">2.17.2   THE USES OF COST

DATA 






normal">2.18.0   COST PLANNING

SERVICES          






normal">2.18.1
1"> 
FEASIBILITY STUDIES        






normal">2.18.2   FUNCTIONAL PROGRAM   






normal">2.18.3   SCHEMATIC DESIGN          






normal">2.18.4
1"> 
DESIGN DEVELOPMENT (PRELIMINARY DRAWINGS
1">    






normal">2.18.5    

 WORKING DRAWINGS    






normal">2.18.6   PRE TENDER






normal">2.18.7
1"> 
TENDER PACKAGE 






normal">2.18.8   TENDER REVIEW &

CONTRACTOR SELECTION






normal">2.18.9    FUNCTIONAL

COST ANALYSIS   






normal">CHAPTER THREE     






normal">RESEARCH METHODOLOGY         






normal">3.3   INSTRUMENT FOR DATA

COLLECTION       






normal">3.4   PROCEDURE FOR DATA

COLLECTION         






normal">3.4
1">      
METHOOD OF DATA ANALYSIS    






normal">3.5
1">      
SOURCES OF DATA






normal">3.5.1
1">   
PRIMARY SOURCES OF DATA       






normal">3.5.1.1
1">           
RESEARCH QUESTIONNAIRES      






normal">Section A - Organisation

Information 






normal">Section B – Questions On Cost

Planning        






normal">Section C – Comments And

Suggestions        






normal">3.5.2    SECONDARY DATA

COLLECTION






normal">CHAPTER FOUR       






normal">DATA PRESENTATION AND ANALYSIS   






normal">4.1    

 PRESENTATION OF DATA FROM QUESTIONNAIRE        






normal">4.1.1   STRUCTURE OD

QUESTIONNAIRE 






normal">4.2     TESTING OF

HYPOTHESES   






normal">4.3 RESEARCH FINDING     






normal">CHAPTER FIVE         






normal">SUMMARY, CONCLUSION AND

RECOMMENDATION   






normal">5.0
1">      
SUMMARY    






normal">5.1
1">      
CONCLUSION           






normal">5.2
1">      
RECOMMENDATIONS        






normal">5.3
1">      
CONTRIBUTION TO KNOWLEDGE           






normal">REFERENCES
1">






normal">APPENDIX
1">