Assessment of Determinants of Construction Tender Sum

Assessment of Determinants of Construction Tender Sum.

ABSTRACT

Identification and assessment of factors influencing construction tender sum help in building more reliable cost models that help Quantity surveyors come up with a more accurate cost estimate.

Several types of research have been carried out in the UK and other developed countries with results varying on one hand based on the questions asked and on the other hand the nature of the economy.

This research was undertaken to assess the factors that affect the tender sum in Nigeria. Factors were identified to be peculiar to Nigeria. The research was two-phase research. The first was the literature review.

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TABLE OF CONTENT

Title Page……..………………………………………………….…………………………..i
Declaration…………………………………………..…………..……………………..iii
Certification……………………………………………………………………………iv
Dedicationv………………………………………………………………………………..v
Acknowledgement………………………………………………..……………..……….vi
Abstract……………………………………………..……………………..…………..vii
Table of Content…………………………………….………………………………..viii
List Of Tables………………………………..…………………………………………xi
List Of Figures…………………………………………………………………………xii
List of Abbreviations…………………………………………………………………xiii
CHAPTER ONE………………….1
1.0 Introduction………………………………………………..……………………….1
1.1 bBackground to the Study………………………….……….………………………1
1.2 Statement of the Research Problem………………………………………………2
1.2 Nneed for the Research……………………………..…..…………………………3
1.3 Aaim and Objectives of the Study…………………….………………………….3
1.4 Sscope and Limitation………………………….………..………………………….4
CHAPTER TWO……………5
2.0 Literatue Review………………………………………….…………………………5
2.1 Background………….………………………………………….…………………..5
2.2 Cost Estimationost Estimation……………..6
2.3 Cost Estimation Activities………………………………………………………….7
2.4 Methods of Cost Estimation………….……………………………………..…….. 8
CHAPTER THREE……………………………………………………………………29
3.0 Reseach Methodology……………………………………………………………..29
3.1 Study Design…………………………………………………………..…………….29
3.2 Study Area…………………………………………………………………………30
3.2.1 The Study Population and Sample……………..…………………………….30
CHAPTER FOUR
4.0 Results and Discussions………………………………………………………….37
4.1 Survey Response Rate………………………………………………………………37
4.2 Characteristics of Respondents……. …………………..…………………………37
4.3 Priority Ranking Using Significance Index……………………..……………….39
4.3.1 Client Characteristic…………………………………………..………………..39
4.3.2 Consultant and Design Parameters……………………………………………..39
4.3.2 Contractor Attributes…………………………….……….…………………….
CHAPTER FIVE ……………512
5.0 Summary of Findings, Conclusion and RecomendationRecommendation………………..…….512
5.1 Ssummary of Findings………………………………………….………………….51
5.2 Conclusion……………………..………………………………………………….522
5.3 Rrecommendations …….……………………………………………………………523
5.4 Suggestions for Further Studies……. ……………………..……….…………….534

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INTRODUCTION

Background of the Study
Construction estimation is an experience-based process (Elhag et al., 2005).

The code of estimating practice produced by the Chartered Institute of Building (CIOB, 1997) defined estimating as “the technical process or function undertaken to assess and predict the total cost of executing an item(s) of work in a given time using all available project information and resources.

Based on this definition, estimators‟ estimated cost is based on the time of construction or project duration, cost of material, method of construction etc. and estimators are aware that most of these factors can be readily estimated.

The estimators in the construction team are usually the Quantity surveyors.

The Quantity surveyor as an expert is employed early enough in the project so as to advice the client/Architect on the probable cost implications of the design decisions and to assist in obtaining economical and efficient design (Seeley, 1996).

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REFERENCES

AibinuA. A. and Pasco T., (2008). The accuracy of pre-tender building cost estimates in Australia. Construction Management and Economics. 26(12):1257 – 1269.

Akintoye A.and FitzgeraldE .,(2000). A survey of current cost estimating practices in the UK. Construction Management and Economics. 18(2):161 – 172.

AkintoyeA.and Skitmore M., (1992). Pricing approaches in the construction industry. Industrial Marketing Management. 21(4):311-318.

Akintoye A., (2000). Analysis of factors influencing project cost estimating practice. Construction Management and Economics. 18(1): 77 – 89.

Akintoye A.S., Ajewole O. and Olomolaiye P.O., (1992). Construction cost information management in Nigeria. Construction management and economics 10 pp107-116.

Al- Tabtabi H. and Dienkmann J E., (1992). Judgmental forecasting in construction projects. Construction management and economics 10pp19-30.