Assessment of Cost Control Techniques on Construction Projects in Abuja, Nigeria.

Abstract

Cost control techniques are mechanisms used for maintaining the budget of a construction project and its objectives. A review of literature was carried out first to ascertain the control technique available on construction sites. Respondents were presented with the cost technique to choose which is most used and most effective. Efficient and adequate used of cost control in the construction sector is essential for the attainment of client budget and value for money. It is also a key to its success in the construction sector. The cost of construction on site has a high tendency to lead to cost overrun due to the nature and complexity of construction on site. Different cost control techniques or methods are utilized by various cost control manager in an attempt to reduce or avoid the effect of cost overrun which has always been a burden to the client. The aim of this paper is to examine the most critical factor contributing to success of cost control techniques on construction site. The research was a quantitative survey with structured questionnaire designed after a detailed literature review of similar studies. A purposive selection of about 115 construction sites was adopted as sampling technique with questionnaire administered as against 70 for similar work. About 61 questionnaires were returned by respondent for analysis which is about 53%.The data were analyzed using descriptive statistics. The result shows that construction management knowledge rank top as the most critical factors that contribute to success of cost control techniques, follow by monitoring of work progress and effective co-ordination of resources ranking 2ndand 3rd respectively, while the least rank is lack of civil strife or riots ranking 20th .In conclusion the acquirement of adequate knowledge in construction management contributes to success to cost control techniques. It is therefore, recommended that professionals responsible for cost control on construction sites should broaden their knowledge on management of cost control due to the complexity and technological advancement of the construction method.