A Survey Of Cost Estimating Practices Of Construction Contractors

A Survey Of Cost Estimating Practices Of Construction Contractors

Abstract

Cost estimating is a crucial exertion in volume surveying profession and in contractor’s organisation. The exploration work is to probe into current cost estimation practices of contractors in Akwa Ibom state. The objects were to identify the ways used in cost estimating by the construction contractors, identify the causes of trip in construction contractors bring estimates and determine cost estimating pitfalls impacting construction design estimates. Applicable literature on current cost estimating practices of construction contractors were reviewed and an exploratory field check was accepted to examine the objects of the study. A aggregate of 159 questionnaires were distributed to construction contractors, of which 127 completed questionnaires were returned, representing a81.41 response rate. The data attained from field check was analysed using mean item score. The study shows that group decision timber, expert judgment and reserve analysis are the most constantly used fashion of construction cost estimating employed by contractor. The major causes of trip in cost estimating are unlooked-for change in prices of accoutrements , Lack of experience on analogous design and insecurity of request condition. The result also shows that the major threat factors in construction cost estimating include variations in labour productivity data, estimator’s insufficiency and error in design and specification. The study recommends that construction contractors and estimators should insure that a frequent request check are done for material and labour before estimating is done.