Direct costs prediction of structural elements of small and medium rise buildings
The failure of cost anticipation and allocation in construction is attributable to ignorance of the nature and values of elemental direct costs in developing countries. This study aims at providing bases for precise and simplified prediction and management of direct costs of structural building el...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Penerbit UKM
2015
|
| Online Access: | http://journalarticle.ukm.my/9125/ http://journalarticle.ukm.my/9125/ http://journalarticle.ukm.my/9125/1/159-513-1-PB.pdf |
| Summary: | The failure of cost anticipation and allocation in construction is attributable to ignorance of the nature
and values of elemental direct costs in developing countries. This study aims at providing bases for
precise and simplified prediction and management of direct costs of structural building elements for
labour-only contracts. The objectives of the study are to identify quantitative variables influencing
direct costs of structural building elements and develop cost prediction models for small and medium
rise buildings. A total of 216 low and medium rise building projects were used for analyses. Data were
obtained from cost records and published data. Tools used for data analyses were descriptive and
standard regression analyses. The results show that the six models developed have adjusted R2
ranging between 0.742 and 0.830 indicating high degree of prediction dependability. Of the eleven
variables reliably used to predict the direct costs of six structural building elements the gross floor
area, bid price and labour prices made the strongest unique contribution to the direct costs. It is
recommended that direct costs should be predicted with elemental cost models adopted for simplified
project planning, accurate cost prediction, and ease of overhead allocation among low and medium
income families who mostly use labour only contract system. |
|---|