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Factor cost indices practices in the building industry for Nairobi, Kenya

Factor cost indices practices in the building industry for Nairobi, Kenya Purpose – The purpose of this paper is to look at the applications of factor cost indices in the building industry in Nairobi, Kenya against the possibilities established through a review of the principles so as to establish the extent of use in practical situations in the industry. There are two organisations involved in compilation of factor cost indices in Kenya – Central Bureau of Statistics and Joint Building Council (JBC). Their practices for compilation of factor cost indices are reported in this paper. Design/methodology/approach – The paper reviews the principles of factor cost index in order to establish a conceptual framework within which practices are then evaluated. The statistical bureau's compilation of building cost indices and the instructions by the JBC are considered as available evidence of application. Findings – The paper finds that the application of factor cost index in Kenya is limited, a situation that therefore demands more research by the construction industry in Kenya. Originality/value – The research's originality lies in its supportive evaluation of the application of the indicator concept in the building industry. More applications would imply greater possibilities for research and development within the case study industry. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Management of Property and Construction Emerald Publishing

Factor cost indices practices in the building industry for Nairobi, Kenya

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Publisher
Emerald Publishing
Copyright
Copyright © 2010 Emerald Group Publishing Limited. All rights reserved.
ISSN
1366-4387
DOI
10.1108/13664381011027980
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to look at the applications of factor cost indices in the building industry in Nairobi, Kenya against the possibilities established through a review of the principles so as to establish the extent of use in practical situations in the industry. There are two organisations involved in compilation of factor cost indices in Kenya – Central Bureau of Statistics and Joint Building Council (JBC). Their practices for compilation of factor cost indices are reported in this paper. Design/methodology/approach – The paper reviews the principles of factor cost index in order to establish a conceptual framework within which practices are then evaluated. The statistical bureau's compilation of building cost indices and the instructions by the JBC are considered as available evidence of application. Findings – The paper finds that the application of factor cost index in Kenya is limited, a situation that therefore demands more research by the construction industry in Kenya. Originality/value – The research's originality lies in its supportive evaluation of the application of the indicator concept in the building industry. More applications would imply greater possibilities for research and development within the case study industry.

Journal

Journal of Financial Management of Property and ConstructionEmerald Publishing

Published: Apr 20, 2010

Keywords: Construction industry; Costs; Research and development; Kenya

References