We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Study on the cost management of construction project during construction phrase - Essay Example

Comments (0) Cite this document
However, what is predominant in the differing definition is the idea that different parties are involved in order to get the project started, sustained and actualised. In…
Download full paper
Study on the cost management of construction project during construction phrase
Read TextPreview

Extract of sample
Study on the cost management of construction project during construction phrase

Download file to see previous pages... ty of managing costs in construction projects is undeniable since all projects are limited by resources which includes the money to be spent for the project. As such, construction cost management is very significant in the construction industry. In this regard, construction costs is understood as the expense incurred by a contractor for labor, material, equipment, financing, inflation, contingency, plus overheads and contractors profit. Being such, the role of construction costs in the project in particular and in the construction industry in general is of primary significance. Thus, studies and development of theories that will enable the contractors, experts and scholars further understand the concept are continuously undertaken.
In this regard, they have come up with the different types of costs namely, earned value cost, actual cost and cost budget all of which intends to guide the user as to what is the standing of the costs of the project from the beginning until the end. These different types of costs involve the following elements: labour, material, equipments, financing, contingency, overheads and others like VAT. Moreover, cost is affected by the following: project duration, project schedule change, resources consumption, price fluctuation, project quality, inflation, project scope, rework, worker injuries, delivery approach, and management practise. The numerous factors that affect construction costs make the nature of construction costs unique, dynamic and undeniably complex. As such, several theories are proffered in order to elucidate and direct the management regarding the control of costs. These are: earned value analysis, life cycle costing analysis, and value engineering. However, it should be noted that as the concern regarding costs pervades the entire project, there is a necessity to focus only on certain aspects of costs in the project so as not to conflate the discussion. And as mentioned , the entire project zeroes in on construction ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Study on the cost management of construction project during Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1566260-study-on-the-cost-management-of-construction-project-during-construction-phrase
(Study on the Cost Management of Construction Project During Essay)
“Study on the Cost Management of Construction Project During Essay”, n.d. https://studentshare.org/miscellaneous/1566260-study-on-the-cost-management-of-construction-project-during-construction-phrase.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Construction Cost Control & Management
The questions below will be addressed in the succeeding discussions: How the Contract Sum can be adjusted in accordance with the JCT form of contract? How interim valuations are made and how interim certificates are issued? How final adjustments are made to the Contract Sum and when the Final Certificate is issued?
15 Pages(3750 words)Coursework
Managing Construction Project Management
This study will assume the lead construction manager who is directly in-charge of building construction projects in the territory of North Yorkshire in United Kingdom will be held liable for project delays caused by changes in weather forecast by 2021.
12 Pages(3000 words)Essay
Construction Project Management
According to the paper even though principles of project management are the same in all nations throughout the world, certain aspects, which may be specific to the nations, may affect projects in different nations differently. Other than the typical constrains of project management such as time, cost and scope, certain aspects such as national culture among others may affect progress of projects in various nations.
6 Pages(1500 words)Essay
Construction Project
This paper studies the motivational problems faced by these employees, the most appropriate motivational theory and offers a package which can be employed to boost the workers morale and increase workers productivity. It further recommends how these concepts can be integrated into the industry to raise the overall company's productivity.
9 Pages(2250 words)Essay
Project Management for construction
uctivity plays a vital role and must be given close and continual attention by those responsible for enforcing cost and quality control of constructed facilities. As in all labour intensive business, human resource management often presents formidable challenges to managers.
8 Pages(2000 words)Essay
Cost Management of Engineering Works in Construction
This can, of course threaten the safety and security of the occupants of the property. For optimally maintained constructions it is very important to formulate a workable program of building upkeep. The main goal of building maintenance is to preserve the structure in its
5 Pages(1250 words)Essay
Construction Project Management
As such, this study seeks to outline and justify the feasibility of harnessing on the opportunities to expand into Russias growing overseas market by Natural Power Consultants Company. With regards to the energy sector, Russia remains heavily dependent
24 Pages(6000 words)Essay
Construction management
According to Wilkinson and Reed, “a waste management strategy can help to design out waste, minimise waste creation on the site, and ensure any resulting
7 Pages(1750 words)Essay
Pre contract cost planning and pre contract cost controlling
Preponderances of the construction projects are facing uncertainty and risks that can result in escalation in costs and hence, the cost control is the method of combating the cost performance as compared to its cost plan, thereby fine-tuning one or the other functions
12 Pages(3000 words)Essay
Construction Project Management
ule ensures that every person who participates in the first stages of construction have the essential information they require in protecting their safety and health. This stage helps in development of the specifications and technical design that will be used in coordinating the
10 Pages(2500 words)Essay
Let us find you another Essay on topic Study on the cost management of construction project during construction phrase for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us