Cost estimation model for cost analysis of concrete works at the initial stages of construction projects in Ghana

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The use of construction cost estimation model has gained worldwide recognition as a fast and a reliable means of predicting project cost. Cost models are developed for cost estimation at different stages of the construction process and for different work sections. This study focused on the development of regression cost model for estimating the cost of concrete works at the preliminary stage of construction where designs are not complete. It also sought to identify the factors which affect the accuracy of initial cost estimates, identify the dominant methods used for project cost estimation at the initial stages of construction projects in Ghana; and find out the extent of utilization of cost models for project cost estimation in Ghana. To achieve this, questionnaires were developed and administed to 30 cost estimation consultants operating within the Accra Metropolis. These respondents were purposively selected. Historical cost data for some construction projects were also gathered. The data collected were analyzed using Statistical Package for Social Scientist (SPSS) version 16 software package. Descriptive statistics such as mean, frequencies, percentages and Relative Importance Index (RII) were used to analyzed the data. The results revealed that even though a number of cost estimating techniques are in use however, the most dominant ones are the Superficial Area method, Unit cost method and Elemental cost method. Moreover, the significant factors which affects the accuracy of initial cost estimates are adequacy and accuracy of information required to prepare the estimate, level of experience of the estimator, complexity of the design, the time available to prepare the data and the method used for the estimation. The study also found that most cost estimators lacked adequate knowledge about the use of cost models and this consequently affected the extent of its utilization in the Ghanaian construction industry. Based on the historical data collected a cost model was developed. It is recommended that, the use of cost models should be encouraged as they offer a fast and reliable means of estimating pro
A thesis submitted to the Department of Building Technology, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirement for the Degree of Master of Science in Construction Management.