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Building Cost Management
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1.3 Research Questions
The following are set-out to guide the study
· What are the benefits of adopting whole life costing in building design cost management?
· What is the level of use of whole life costing in building design cost management?
· What are the factors affecting the use of whole life costing for building design cost management?
1.4 Aim and Objectives of the Study
The
study aims to assess the use of whole life cycle costing as a design
tool in building cost management with a view to improve application. To
achieve this aim, the objectives are to:
· determine the benefits of whole life costing in building design cost management;
· evaluate level of use of whole life costing techniques in building design cost management; and
· Examine factors influencing the use of whole life costing in building design cost management.
1.5 Significance of the Study
Ferry
and Flanagan (1991) argued that application of Whole life cost, in any
environment, exists on two levels. The lower level of whole life costing
is represented as a ‘Management Tool’ to aid the decision making
process. The higher level of whole life costing is termed the
‘Management System’ whose continuous operation dictates that
responsibility for asset management should be retained. In general
terms, they argue that during the management of a typical project, all
stages, except project initiation, have a potential use for Whole Life
Cost.
The outcome and knowledge of Whole Life Cost can therefore be
used as a management tool to identify the actual costs incurred in
operating an asset. The primary objective is to relate running costs and
performance data. Thus, it could be useful for clients who want to
estimate the actual running costs of the building and also for budgeting
purposes.
1.7 Scope of the Study
The study is limited to
evaluating the use of whole life costing in building design cost
management in Akwa Ibom state. The study will be limited to Uyo
Municipal based on the need to collect cost data from construction
professionals (Cost Managers) whose business and firms are located
mainly in Uyo. The study sample comprised mainly of quantity surveyors
largely due to the subject of the study which context deals with
construction cost management.
1.8 Organisation of the Work
The
work is organized into the Chapters. Chapter One is the Introduction,
and introduces the background to the study, statement of research
problems and identify the aim, objectives, hypotheses and scope of the
study. Chapter Two is the Literature Review and this section highlights:
identification of design variables influencing whole life cost of
building projects; determining the level of use of whole life costing
techniques in building design choice selection; examining the factors
influencing the use of whole life costing in building design choices;
and establishing the nexus between the design variables and whole life
cycle cost of building projects.
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ABSRACT - [ Total Page(s): 1 ]Lack of in-depth knowledge of whole life costing implication in building design cost management has over the years fueled the increasing bias towards the quantity surveyors estimate. Whole life costing constitutes cost management tool that enhances better understanding of the cost implication of building design over its life cycle. This study investigated the use of whole life costing in the Nigerian construction industry with focus in Imo state. The objectives were to examine the benefits, leve ... Continue reading---
