ASSESSMENT OF THE FACTORS MITIGATING THE EFFECTIVE PREPARATION OF COST ESTIMATE AT THE DESIGN STAGE
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- NGN 5000
ABSTRACT
This research assesses the factors mitigating the effective preparation of cost estimates at the design stage Accurate cost estimates are crucial to the effective realization of construction projects This research is aimed at examining the factors affecting accuracy of pre-lender cost estimate in Abuja, with a view to improving the predictive ability of clients, consultants, and contractors for better estimating. 84 questionnaires were sent out, 28 to con tractors, 28 to clients, and 28 were sent to the consultant firms respectively. 25 questionnaires were received from each of the respondent categories, representing 89% using the simple random sampling technique. The collected data were analyzed using the Relative importance Index. The study found out that a statistically significant relationship existed between the clients, consultants, and contractor on the essential factors affecting accuracy of pre-tender cost estimate. It was concluded that: Experience and skill level of the consultants ranked with overall Ru of 0.9, project teams experience on the construction type 0.87, clear and detail drawings and specification, completeness of cost information, accuracy and reliability of cost information are the most significant factors affecting accuracy of pre-tender cost estimate were other paramount factors. The most appropriate cost estimating method at the design stage according to the respondents ranking is subjective estimating with Ru of 0.78 and parametric estimating 0.46 and synthetic estimating 0.52. It was recommended that Clients should always engage the services of skilled quantity surveyors to undertake the consultancy services in cost estimating process.
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