Evaluation of factors responsible for dynamics of direct costs of building elements in cross-river state, Nigeria
The difficulty in accurately forecasting costs of building projects is traceable to inability to determine the nature and causes of variation in direct costs. This study evaluates the severity of the impact of eighty factors responsible for the dynamics of direct cost of building elements in Cross...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Penerbit UKM
2013
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| Online Access: | http://journalarticle.ukm.my/7009/ http://journalarticle.ukm.my/7009/ http://journalarticle.ukm.my/7009/1/86-175-1-PB.pdf |
| Summary: | The difficulty in accurately forecasting costs of building projects is traceable to inability to determine
the nature and causes of variation in direct costs. This study evaluates the severity of the impact of
eighty factors responsible for the dynamics of direct cost of building elements in Cross River State of
Nigeria. The objective is to compare consultants and contractors perception of the severity of the
factors on differential in direct costs. To achieve this objective, a field survey involving a sample of 91
contractors and 46 consultants was conducted. Data were collected with the aid of structured
questionnaires and analysed using mean item score, and Mann-Whitney U test. The results reveal
that fifteen factors have very high significant effect on the dynamics of direct costs (MS ≥ 4.20) from
environmental, macro-economic and construction related factors. There is also high agreement
between contractors and consultants’ perception of the influence of the factors (P=0.801). It is
recommended that stakeholders should give adequate priority to site conditions, method of
construction, macroeconomic indices and cost control mechanism through effective planning, cost
recording and cost analysis in their effort to accurately forecast cost of projects. |
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