A study of the cost management process and estimation techniques for estimating building services installations in the building construction industry

1998 ◽  
Author(s):  
Kin-kwong Wu
Keyword(s):  
Construction Industry ◽  
Cost Management ◽  
Building Construction ◽  
Management Process ◽  
Estimation Techniques ◽  
The Cost

Cement Artifact Produced with the Construction and Demolition Waste-CDW

2014 ◽  
Vol 600 ◽  
pp. 638-647
Author(s):  
Marina H.S. Santos ◽  
Albéria C. Albuquerque ◽  
Juzélia S. Costa
Keyword(s):  
Environmental Impact ◽  
Construction Industry ◽  
Reference Sample ◽  
Building Construction ◽  
Construction And Demolition Waste ◽  
Demolition Waste ◽  
Technical Standards ◽  
Construction Waste ◽  
The Cost ◽  
Physical And Chemical

The project aims to use waste generated in the building construction industry as aggregate for use in artificial artifact of cement, replacing natural aggregate. We investigated the development of mechanical strength of bricks made ​​from construction waste, compared to a reference sample without residue. In this investigation were used mechanical, physical and chemical tests contained in current technical standards. The results demonstrated the viability of this product for masonry sealing. The feasibility of the product, reducing the cost and environmental impact justifies the relevance of the project.

scholarly journals Determinants of Building Construction Costs in South Africa

2017 ◽  
Vol 1 (1) ◽  
pp. 8-13
Author(s):  
Abimbola Windapo ◽  
Sunday Odediran ◽  
Alireza Moghayedi ◽  
Abdul Adediran ◽  
David Oliphant
Keyword(s):  
South Africa ◽  
Construction Industry ◽  
Predictive Modelling ◽  
Construction Cost ◽  
Building Construction ◽  
Construction Equipment ◽  
Construction Costs ◽  
Cost Index ◽  
Cross Sectional ◽  
The Cost

Completing project within cost is the target of most clients on any construction project. However, the achievement of this desire is just an imagination in the construction industry, because procurement and execution environments for projects are hostile and unpredictable. This study examines the determinants of building construction costs in South Africa and whether changes in the cost of certain resource factors such as construction equipment, labour and materials can be related to changes in building construction costs. The study employs a longitudinal cross-sectional quantitative research design approach and makes use of literature review and historical data obtained from institutional and governmental databases to identify the determinants. The data collected were analysed using time series analysis to confirm the trends in the cost of the resource factors and its alignment to the changes in building construction cost. After that, it makes use of an appropriate predictive modelling tool or causal analysis in establishing the determinants of construction cost. The results show that the price indices of construction equipment (EI), labour (LI) and materials (MI) have a gentler slope when compared with the Building Cost Index (BCI). It also emerged that later levels of the BCI are significantly and positively related to EI. The findings infer that the key determinant of increase in building construction costs in South Africa is equipment costs. Contractors and public or private sector clients in South Africa must utilize construction equipment optimally on projects, and these pieces of equipment should not be left idle on project sites or plant yards. Appropriate provisions should be made of equipment utilization policies which allow the joint ownership of equipment by contractors to mitigate the problems of cost increases. There are widely unexamined assumptions as to what resource factors are responsible for the growth in building construction costs in South Africa. Also is the similar high risk and uncertainty affecting the South African construction industry as a result of these fluctuations. The results of the study extend the knowledge of the resource factors responsible for building construction costs increases.     

scholarly journals AHP-Systems Thinking Analyses for Kaizen Costing Implementation in the Construction Industry

Buildings ◽  
2020 ◽  
Vol 10 (12) ◽  
pp. 230
Author(s):  
Temitope Omotayo ◽  
Bankole Awuzie ◽  
Temitope Egbelakin ◽  
Lovelin Obi ◽  
Mercy Ogunnusi
Keyword(s):  
Construction Industry ◽  
Systems Thinking ◽  
Cost Management ◽  
Management Strategies ◽  
Analytic Hierarchy ◽  
Cost Overruns ◽  
Construction Companies ◽  
Cost Planning ◽  
Effective Cost ◽  
The Cost

The incessant reportage of cost overruns and abandoned projects in contemporary literature have accentuated the need for a re-examination of the nature of the cost management strategies deployed to these projects. This study explores the potential of kaizen costing strategy to engender effective cost management within construction project delivery systems in developing countries. Data collected during this study were analysed using the analytic hierarchy process (AHP) and systems thinking approaches to determine the criticality of the factors influencing the effective implementation of kaizen costing. Seven (7) archetypes leading to final causal loop diagram identified the incorporation of the plan–do–check–act approach to project and cost planning, the budgeting system of the construction companies, overhead cost reduction during construction and the overall procurement process. Executing these archetypes will potentially reduce high overhead costs, project cost and time overruns, as well as enhance construction industry sector growth policies and construction organisation corporate governance.

Discussion on Objective-Cost Planning for Construction Project Objective-Total Cost Management

2014 ◽  
Vol 638-640 ◽  
pp. 2323-2326 ◽  
Author(s):  
Shu Min Nie ◽  
Jun Yan Liu
Keyword(s):  
Cost Management ◽  
Construction Project ◽  
Building Construction ◽  
Median Income ◽  
Construction Enterprise ◽  
Total Cost ◽  
Cost Center ◽  
Cost Planning ◽  
Management Method ◽  
The Cost

The construction project for the construction woks is the cost center of the construction enterprise and the standpoint of the cost management for the construction enterprise, strengthening the cost management is the inevitable choice of the construction enterprise to accumulate the funds and enhance the competitiveness. Since the construction project period is long, it is complex to recognize the median income and measurement of the intermediate cost, and the bidding period and the cost incurred after putting into use are uncertain, the traditional cost management method no longer meets the practical needs of the management for the building construction enterprise. This requires us to be innovative in the cost management mode of the construction project, and make a scientific estimation in the future level of cost and possible future trends through the objective-cost planning research of the construction project.

scholarly journals Discussion on Design Control and Management of Construction Cost

2020 ◽  
Vol 2 (1) ◽  
pp. 13
Author(s):  
Mengli Li
Keyword(s):  
Construction Industry ◽  
Cost Control ◽  
Cost Management ◽  
Construction Project ◽  
Construction Cost ◽  
Economic Benefits ◽  
Management Measures ◽  
Pillar Industry ◽  
Control And Management ◽  
The Cost

<p>As a pillar industry in China, the construction industry is developing rapidly at this stage. In order to better promote the development of the construction industry, it is necessary to reasonably ensure the economic benefits of the project and do a good job in the cost management of the project. Based on this, this paper analyzes the construction cost control and management measures, aiming to take effective measures to control the construction cost and promote the better development of the construction project.</p>

scholarly journals Selecting cost management models in post-pandemic settings

2021 ◽  
pp. 148-159
Author(s):  
Roman R. Yakubov Yakubov
Keyword(s):  
Business Models ◽  
Cost Management ◽  
Practical Implementation ◽  
Management Process ◽  
Management Models ◽  
New Business ◽  
Integrated Cost ◽  
Key Aspects ◽  
The Cost ◽  
New Business Models

The article discusses the features of cost management in post-pandemic conditions. The introduction justifies the relevance of the study of the cost management process and the problem of choosing appropriate management models in the modern economy, including in post-pandemic conditions. The methods used in the post-pandemic cost management study are indicated. The result of their practical implementation is determined. As the results of the study, the essence of the costs is determined, their types are described. In addition, factors are established that determine the variability of costs. The cost management process is characterized. Planning is considered as one of the stages of cost management, as well as key aspects of budgeting as a form of planning. Budget objectives and objectives are defined. Measures are being established to achieve the goal of an integrated cost reduction system. The principles and methods of cost management are described. Key ways to achieve competitive advantage in post-pandemic settings are identified. There are negative and positive consequences of the COVID-19 pandemic, which determine how to manage costs in the post-pandemic period. The pandemic-driven changes in the accounting of expenditures, which contribute to the spread of the motivation approach and new business models and corporate governance models, are being discussed. The conclusion concludes that it is possible to choose cost management models in post-pandemic settings.

scholarly journals Cost overrun in construction projects in Oman: Case study

2021 ◽  
Vol 10 (3) ◽  
Author(s):  
Haitham Nasser Al Siyabi ◽  
Omar Khaleel
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Poor Quality ◽  
Building Construction ◽  
Cost Overrun ◽  
Survey Interviews ◽  
Original Contract ◽  
Major Factors ◽  
The Cost ◽  
The Impact

There are many challenges in construction industry sector, and one of the most important and critical is completion of the project within the original contract value. As the issue of cost overrun in construction projects is spread worldwide generally and commonly encountered in the Sultanate of Oman.The main objectives of this study are to identify and determine vital factors leading to cost overrun in Building Projects in Oman, evaluate the impact of cost overrun in building construction projects and develop the best protocol strategy for project management teams that can be adopted in order to control the cost overrun in future projects. These objectives have been obtained through several methods, questionnaire survey,interviews with experts in construction industry. Twenty nine major factors lead to cost overrun were identified through literature review and studied in Sultanate of Oman.The study concluded that there are three major impacts of cost overrun in construction projects and industry which are time of completion, delivery of poor quality projects and delay of payment approval. Additional to that, Hire good Supervision Team, a good Cost Controller, Project Manager, a good project design team, well planning for pre-contract stage and proper procurement strategy. Consider the Risk assessment and Risk Control are crucial to minimize the cost overrun in building construction project in Oman. The study have recommended procedure to cost control in future project such as the Employer should have a proper tender analysis of the Contractor’s bid, Detailed design should be finalized before award of work and others.

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