Aminuddeen Ibraheem Premium 89 PAGES (20793 WORDS) Project 0 Views


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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Aminuddeen, I (2018). FACTORS INFLUENCING THE COST PLANNING OF PUBLIC BUILDING PROJECT. Afribary.com: Retrieved March 19, 2018, from http://dubz-by-dan.co.uk/works/factors-influencing-the-cost-planning-of-public-building-project-456

MLA 8th

Ibraheem, Aminuddeen. "FACTORS INFLUENCING THE COST PLANNING OF PUBLIC BUILDING PROJECT" Afribary.com. Afribary.com, 29 Jan. 2018, http://dubz-by-dan.co.uk/works/factors-influencing-the-cost-planning-of-public-building-project-456 . Accessed 19 Mar. 2018.


Ibraheem, Aminuddeen. "FACTORS INFLUENCING THE COST PLANNING OF PUBLIC BUILDING PROJECT". Afribary.com, Afribary.com, 29 Jan. 2018. Web. 19 Mar. 2018. < http://dubz-by-dan.co.uk/works/factors-influencing-the-cost-planning-of-public-building-project-456 >.


Ibraheem, Aminuddeen. "FACTORS INFLUENCING THE COST PLANNING OF PUBLIC BUILDING PROJECT" Afribary.com (2018). Accessed March 19, 2018. http://dubz-by-dan.co.uk/works/factors-influencing-the-cost-planning-of-public-building-project-456