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EVALUATION OF CONSTRUCTION COST CONTROL TECHNIQUES AND ITS EFFECTIVENESS ON SELECTED SOUTH-WESTERN HIGHWAYS IN NIGERIA

Ibrahim I. K.

Abstract


The construction industry plays a significant role globally, contributing a substantial portion to the GDP of many countries. Its significance lies not only in its size but also in its crucial contribution to economic growth and development. The advancement of technology has contributed to the increase in the number of complex construction project that require cost management. Cost control is an important aspect of any project execution. Cost management of road construction involves the application of engineering and financial practices to optimize the use of resources in other to have a cost-effective output without compromising the quality. The effects of cost control techniques on project delivery in road construction are evaluated in this study. The preliminary data for the research was collected through a well-structured questionnaire and the secondary data which was collected for the formulation of the mathematical model. factor analysis, percentage frequency, mean item score and multiple regression where employed for data analysis for each of the objectives respectively.The data revealed that Earn Value Management, Programme Evaluation and Review Technique (PERT) and Valuation of Work in Progress where the most used cost control technique, while Critical Path Method (CPM) is the most effective cost control technique with MIS=4.21.It was recommended that construction firm should ensure to send employees on various training programmers to improve their skills on cost management.


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References


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