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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/7268

Title: Project Cost Contingency Estimation in Ghana: An Integrated Approach
Authors: Teye Buertey, Joseph Ignatius
Abeere-Inga, Emmanuel
Adjei Kumi, Theophilus
Keywords: Engineering Design process
organizational culture
risk analysis
traditional deterministic methods
cost contingency
Issue Date: 2012
Publisher: Science Journal of Civil Engineering and Architecture
Citation: Science Journal of Civil Engineering and Architecture, 2012
Abstract: The process of cost contingency estimation has been one process which lacks a well defined framework. Practitioners to date rely on their past experience, historical data and organizational culture to estimate cost contingency. The above mentioned process has detrimental effect on the execution phase of the project since it lacks any scientific basis and a structured risk management approach. This paper discusses the cost contingency estimating process and proposes a framework to improve upon the practice. The paper adopts a mixed approach with the distribution of 204 questionnaires to construction clients, professionals and experts in the built environment receiving a response rate of 57.8%. Findings show that at least 95% of the Engineering Design Actors (EDA) primarily used traditional methods. The research revealed that the reasons why these actors predominantly used the deterministic method was the ease of application, unavailability of any tested and approved framework and finally because most of these actors lacked the requisite knowledge for applying complex risk analysis process. The improvement of the above process relies on the need to develop a framework to suit the Ghanaian environment, retraining professionals to acquire knowledge in risk analysis and the need to re-orient the educational curricula to feature emerging needs of the industry.
Description: Article published in Science Journal of Civil Engineering and Architecture, 2012. Also available at www.sjpub.org
URI: http://hdl.handle.net/123456789/7268
ISSN: 2276-6332
Appears in Collections:College of Architecture and Planning

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