Accuracy in design stage elemental cost planning: an analysis of New Zealand data

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aut.researcherRotimi, James Olabode Bamidele
dc.contributor.authorAdafin, JKen_NZ
dc.contributor.authorWilkinson, Sen_NZ
dc.contributor.authorRotimi, JOBen_NZ
dc.date.accessioned2015-07-21T04:32:34Z
dc.date.available2015-07-21T04:32:34Z
dc.date.copyright2015en_NZ
dc.date.issued2015en_NZ
dc.description.abstractOne aspect of client expenditure management that requires attention is the accuracy in design stage elemental cost planning which is a major concern for construction clients and practitioners in New Zealand. Several researches indicated that pre-tender estimating accuracies are significantly affected by the level of risk information available to the estimators. Proper risk analysis could offer at least a partial solution by reducing the variances between design stage elemental cost plans and final tender sums (contract sums) of construction projects. This study investigates the accuracy in design stage elemental cost planning with a view to identifying risk factors influencing the accuracy. Project data were obtained through interviews and thematic analysis identified the risk factors. Analysis of documents obtained from the archives of study participants (consultant quantity surveyors) complemented the responses from the interviews. Findings revealed deviations of elemental cost plans from final tender sums in the region of -14% and +13%. These results confirmed a significant disparity between elemental cost plans and final tender sums. It is conjectured in this study that the identified risk factors were responsible for the deviations observed. With this information, Quantity Surveyors are able to accurately forecast final tender sums of building projects from the cost plans through proper risk identification and subsequent further analysis, thus increasing accuracy.
dc.identifier.citationEnvironmental Design and Management international Conference (EDMIC) held at Ile-Ife, Nigeria, 2015-03-09to 2015-03-12en_NZ
dc.identifier.urihttps://hdl.handle.net/10292/8983
dc.publisherFaculty of Environmental Design and Management, Obafemi Awolowo University, Nigeria
dc.rightsAuthors retain the right to place his/her publication version of the work on a personal website or institutional repository for non commercial purposes. The definitive version was published in (see Citation). The original publication is available at (see Publisher’s Version).
dc.rights.accessrightsOpenAccessen_NZ
dc.subjectAccuracy
dc.subjectDesign stage
dc.subjectElemental cost plan
dc.subjectFinal tender sum
dc.subjectRisk identification
dc.titleAccuracy in design stage elemental cost planning: an analysis of New Zealand dataen_NZ
dc.typeConference Contribution
pubs.elements-id172828
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Design & Creative Technologies
pubs.organisational-data/AUT/Design & Creative Technologies/School of Engineering
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