Exploring the integrated cost control models used in the construction industry
- Adjei, K.O., Aigbavboa, C.O., Thwala, Wellington Didibhuku
- Authors: Adjei, K.O. , Aigbavboa, C.O. , Thwala, Wellington Didibhuku
- Date: 2016
- Subjects: Cost control , Model , Construction industry
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/217000 , uj:21584 , Citation: Adjei, K.O., Aigbavboa, C.O. & Thwala, W.D. 2016. Exploring the integrated cost control models used in the construction industry.
- Description: Abstract: Project cost control models bring about all the techniques used in developing construction cost, cash flow forecasting and cost control. The construction industry has been unfamiliar with its characteristics and properties.This study therefore exploresthe existing integrated cost control models used in the construction industry.The study was conducted through a literatureresearch. Three different integrated cost control models used for the construction industry were selected between the years 2001 and 2013. The data used in the report is mainly qualitative and it was based on content analysis.The findings show that all the models had cost control systems. The inputs of the models were bills of quantities, resources list, activities programme, work breakdown structure and estimates. The processes of the models were managing all the resources; materials, labour, equipment and overhead costs, monitoring, controlling, reporting, decision making, corrective actions, forecasting and deadlines. Lastly the outputs of the models were project loss or profit, post evaluation and historical data kept for future use.
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- Authors: Adjei, K.O. , Aigbavboa, C.O. , Thwala, Wellington Didibhuku
- Date: 2016
- Subjects: Cost control , Model , Construction industry
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/217000 , uj:21584 , Citation: Adjei, K.O., Aigbavboa, C.O. & Thwala, W.D. 2016. Exploring the integrated cost control models used in the construction industry.
- Description: Abstract: Project cost control models bring about all the techniques used in developing construction cost, cash flow forecasting and cost control. The construction industry has been unfamiliar with its characteristics and properties.This study therefore exploresthe existing integrated cost control models used in the construction industry.The study was conducted through a literatureresearch. Three different integrated cost control models used for the construction industry were selected between the years 2001 and 2013. The data used in the report is mainly qualitative and it was based on content analysis.The findings show that all the models had cost control systems. The inputs of the models were bills of quantities, resources list, activities programme, work breakdown structure and estimates. The processes of the models were managing all the resources; materials, labour, equipment and overhead costs, monitoring, controlling, reporting, decision making, corrective actions, forecasting and deadlines. Lastly the outputs of the models were project loss or profit, post evaluation and historical data kept for future use.
- Full Text:
Contractors management team roles for project cost control in Ghana
- Owusu, K., Aigbavboa, C., Thwala, Wellington Didibhuku
- Authors: Owusu, K. , Aigbavboa, C. , Thwala, Wellington Didibhuku
- Date: 2015
- Subjects: Cost control , Contractor , Ghana
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/85340 , uj:19331 , Citation: Owusu, K., Aigbavboa, C. & Thwala, W.D. 2015. Contractors management team roles for project cost control in Ghana.
- Description: Abstract: Project cost control is one of the key management practices that are crucial to the survival of every construction company in a country. The involvement, good cooperation and good coordination of the contractors' in-house management team roles are essential to achieve maximum good management practice as well as maximum profit. The objectives of the study were to identify the various roles in-house team members play for successful project cost control and to develop a model to show the interdependencies of the roles among the contractor's team for effective cost control. The study uses both quantitative and qualitative approach. The population and sample sizefor this study comprised all registered members of the Ashanti Region branch of Association of Building and Civil Contractors of Ghana (ABCCG) who wereforty-one (41) members in good standing with response rate of 90%. Likert scale from 'always to never' was used to evaluate the roles of the contractors' team. The survey indicated that the project manager is responsible for checking cost performance, timely co"ective measures and taking plan based on actual cost. The quantity surveyor also prepares detailed estimates, cash flow forecasting, financial reporting, gathers cost data by checking invoices. The store keeper/manager also does inventory control, controlling of materials, and minimizing wastage of materials at construction site. A model developed shows that project manager links up all the professionals by coordination with the contractors' management team to achieve maximum good management practice as well as maximum profit.
- Full Text: false
- Authors: Owusu, K. , Aigbavboa, C. , Thwala, Wellington Didibhuku
- Date: 2015
- Subjects: Cost control , Contractor , Ghana
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/85340 , uj:19331 , Citation: Owusu, K., Aigbavboa, C. & Thwala, W.D. 2015. Contractors management team roles for project cost control in Ghana.
- Description: Abstract: Project cost control is one of the key management practices that are crucial to the survival of every construction company in a country. The involvement, good cooperation and good coordination of the contractors' in-house management team roles are essential to achieve maximum good management practice as well as maximum profit. The objectives of the study were to identify the various roles in-house team members play for successful project cost control and to develop a model to show the interdependencies of the roles among the contractor's team for effective cost control. The study uses both quantitative and qualitative approach. The population and sample sizefor this study comprised all registered members of the Ashanti Region branch of Association of Building and Civil Contractors of Ghana (ABCCG) who wereforty-one (41) members in good standing with response rate of 90%. Likert scale from 'always to never' was used to evaluate the roles of the contractors' team. The survey indicated that the project manager is responsible for checking cost performance, timely co"ective measures and taking plan based on actual cost. The quantity surveyor also prepares detailed estimates, cash flow forecasting, financial reporting, gathers cost data by checking invoices. The store keeper/manager also does inventory control, controlling of materials, and minimizing wastage of materials at construction site. A model developed shows that project manager links up all the professionals by coordination with the contractors' management team to achieve maximum good management practice as well as maximum profit.
- Full Text: false
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