Access the full text.
Sign up today, get DeepDyve free for 14 days.
D. Osbourn (1985)
Introduction to Building
T. Tsai, Min-Lan Yang (2010)
RISK ASSESSMENT OF DESIGN-BID-BUILD AND DESIGN-BUILD BUILDING PROJECTSJournal of The Operations Research Society of Japan, 53
M. Oladokun, A. Oladokun, I. Odesola (2011)
ACCURACY OF PRE-TENDER COST ESTIMATES OF CONSULTANT QUANTITY SURVEYORS IN NIGERIA
A. Aibinu, Thomas Pasco (2008)
The accuracy of pre‐tender building cost estimates in AustraliaConstruction Management and Economics, 26
A. Enshassi, S. Mohamed, Munther Abdel-Hadi (2013)
Factors Affecting the Accuracy of Pre-Tender Cost Estimates in the Gaza Strip, 18
A. Enshassi, S. Mohamed, Ibrahim Madi (2015)
Cost Estimation Practice in the Gaza Strip: A Case StudyIUG Journal of Natural Studies, 15
M. Musa, I. Zubairu, K. Bala (2011)
Appraisal of the Performance of Contingency Cost Provision for Building Projects in Nigeria, 4
A. Akintoye (2000)
Analysis of factors influencing project cost estimating practiceConstruction Management and Economics, 18
W. Gibson, Andrew Brown (2009)
Working with Qualitative DataQMiP Bulletin
A. Enshassi, S. Mohamed, Ibrahim Madi (2005)
Factors affecting accuracy of cost estimation of building contracts in the Gaza StripJournal of Financial Management of Property and Construction, 10
Daniel Baloi, A. Price (2003)
Modelling global risk factors affecting construction cost performanceInternational Journal of Project Management, 21
H. Odeyinka, S. Kelly, S. Perera (2009)
An evaluation of the budgetary reliability of bills of quantities
A. Taroun, Jianbo Yang, David Lowe (2011)
Construction Risk Modelling and Assessment: Insights from a Literature Review, 4
X. Jin, H. Doloi, Shijie Gao (2007)
Relationship‐based determinants of building project performance in ChinaConstruction Management and Economics, 25
Sanhita Chowdhury, A. Thakur, S. Chaudhuri (2011)
Novel Microbial Consortium for Laboratory Scale Lead Removal from City EffluentJournal of Environmental Science and Technology, 4
Y. Ling, Jina Boo (2001)
Improving the accuracy estimates of building of approximate projectsBuilding Research & Information, 29
D. Bryde, Jurgen Volm (2009)
Perceptions of owners in German construction projects: congruence with project risk theoryConstruction Management and Economics, 27
Neill Morrison (1984)
The accuracy of quantity surveyors' cost estimatingConstruction Management and Economics, 2
H. Odeyinka, A. Oladapo, O. Akindele (2006)
Assessing risk impacts on construction cost
J. Dada, G. Jagboro (2007)
An evaluation of the impact of risk on project cost overrun in the Nigerian construction industryJournal of Financial Management of Property and Construction, 12
P. Zou, Guomin Zhang, Jiayuan Wang (2007)
Understanding the key risks in construction projects in ChinaInternational Journal of Project Management, 25
H. Odeyinka, A. Yusif (2011)
An Assessment of the Accuracy of Quantity Surveyors' Preliminary Cost Estimates in Nigeria, 18
John Gunner, M. Skitmore (1999)
Comparative analysis of pre-bid forecasting of building prices based on Singapore dataConstruction Management and Economics, 17
O. Ogunlana (1991)
Learning from experience in design cost estimatingConstruction Management and Economics, 9
S. Laryea, W. Hughes (2006)
THE PRICE OF RISK IN CONSTRUCTION PROJECTS
K. Potts, N. Ankrah (2008)
Construction Cost Management: Learning from Case Studies
A. Akintoye, Eamon Fitzgerald (2000)
A survey of current cost estimating practices in the UKConstruction Management and Economics, 18
N. Hlaing, D. Singh, R. Tiong, M. Ehrlich (2008)
Perceptions of Singapore construction contractors on construction risk identificationJournal of Financial Management of Property and Construction, 13
H. Odeyinka, K. Larkin, G. Cunningham, R. Weatherup, M. McKane (2010)
Assessing risk impacts on the variability between tender sum and final account.
M. Skitmore, David Picken (2000)
The accuracy of pre-tender building price forecasts: An analysis of USA data
Jim Smith, Nellie O'Keeffe, Jim Georgiou, P. Love (2004)
Auditing construction costs during building design: A case study of cost planning in actionManagerial Auditing Journal, 19
Purpose – The aim of this study is to investigate the reasons for disparity between design stage elemental cost plan and final tender sum (contract sum) in building procurement. A number of risk factors responsible for such variation were identified through case study projects from which data were extracted. Design/methodology/approach – Literature review determined the risk factors inherent in the preparation of design stage elemental cost plan. Interviews and thematic analysis identified the risk factors responsible for the disparity between design stage elemental cost plans and final tender sums. Analysis of documents obtained from the archives of study participants (consultant quantity surveyors) complemented responses from the interviews. Findings – The review revealed a number of inherent risks in the design stage elemental cost plan development. The interviews further indicated that risks have an impact on and are responsible for the deviations experienced. The assessment of these risk elements could assist in determining the final tender sum from cost plans. Research limitations/implications – Findings revealed disparity between elemental cost plans and final tender sums in the region of −14 and +16 per cent. The risk factors identified were responsible for the deviations observed. With this information, Quantity Surveyors are more able to accurately forecast final tender sums of building projects from cost plans through proper risk identification and analysis, thus increasing the accuracy of design stage elemental costing. Originality/value – To the best of the knowledge of the researchers, there is no recent documentary evidence of an investigation into the reasons for disparity between design stage elemental cost plan and final tender sum in traditional building procurement in New Zealand construction.
Journal of Financial Management of Property and Construction – Emerald Publishing
Published: Aug 3, 2015
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.