A Systematic Review on Development of a Project Cost Estimation Framework: a Case Study of Nigeria

EasyChair Preprint 5782

Abstract

In Nigeria, there has been an insufficient study in the field of risk-related cost variability. Due to unreliable cost estimation, variations in cost, length, and quality are the direct implications. Cost estimating is difficult, mainly when dealing with uncertainties. The study aims to develop a construction project estimation framework that will aid accurate cost estimating and address cost variability issues through a systematic review. This is critical because initial estimates provided to clients can demonstrate a certain level of consistency and precision on which the client bases other planning activities. In achieving this, the theoretical concept was validated via a processual lens of a systematic literature review with cost variability and construction projects as search string within three databases: Scopus, Web of science, and EBSCO (BSP) (Business source premium), which were further studied and knowledge or research gaps identified. The review indicated factors causing deviation between final accounts and contract sum varied from 1 to 40, which includes Clients change/Changes in owner’s requirements, Clients brief, Type of client, Defective design and specification, among others, thus meeting objective 1 of the study. A combination of interview and questionnaire will be used to collect data and consider other objectives of peculiarities, severity, effects and ways of mitigating risk, leading to the development of a cost estimating framework that is adjudged a vital tool in risk shedding rather than risk-sharing in project risk management, which would be a panacea to cost estimation problems, leading to cost variability in the Nigerian construction industry.

Keyphrases: Construction projects, Future Studies, Nigeria, cost, variability

@booklet{EasyChair:5782,
  author    = {Babatunde Dosumu and Obuks Ejohwomu and Akilu Yunusa-Kaltungo},
  title     = {A Systematic Review on Development of a Project Cost Estimation Framework: a Case Study of Nigeria},
  howpublished = {EasyChair Preprint 5782},
  year      = {EasyChair, 2021}}