Cost Control Techniques and Construction Projects’ Outcomes

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Olatunji Joseph Oladiran and Adewunmi John Babafemi

DOI:

Keywords: Cost, Control, Techniques, Implementation, Outcomes

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ABSTRACT

PURPOSE

This study explored contractors’ cost control techniques and outcomes of construction projects in Nigeria. The objectives were to identify frequently used cost control techniques (CCT) of construction projects’ contractors and determine their impact on project outcomes.

DESIGN / APPROACH / METHODOLOGY

Survey research design method was chosen and considered suitable to carry out this study. The study was carried out among contractors of construction projects in Lagos State, Nigeria. The participants were purposively selected using questionnaire as research instrument. A total of 92 questionnaires were administered to the respondents, while 47 respondents filled and returned the questionnaires. Frequency, percentage, mean and ranks were used to analyse the data.

FINDINGS

The result established significant impact of CCT on the outcomes of construction projects.

PRACTICAL IMPLICATIONS

It is concluded that a lot of CCT are not employed by contractors in the study area, implying adverse effect on planning and construction projects outcomes. Additionally, CCT impact highly on the outcomes of construction projects, such as cost and time. This implies that when CCT are integrated into planning and management of materials, it brings a lot of benefits to construction projects. It is recommended that increased attention should be drawn towards the less frequently adopted CCT. This can be done by awareness via seminars, conferences, and other training programs. Cost control should also be implemented with improvement of project outcomes as target among other important goals. This can be done by garnering adequate knowledge on the techniques before implementation.