Factors affecting the accuracy of detailed construction cost estimation in Ghana. (20th February 2023)

• Record Type: Journal Article
• Authors: Gyimah, Jerry Junior; Kissi, Ernest; Adjei-Kumi, Theophilus; Asamoah, Richard Oduro; Addo, Seth Bampo; Offei-Nyako, Kofi; Bannor, Philip
• Is Part Of: International journal of engineering management and economics. Volume 7:Number 1(2023)
• Page Start: 59
• Page End: 78
• Publication Date: 2023-02-20
• Subjects: detailed cost estimate -- quality -- accuracy -- factors -- Ghana; Engineering -- Management -- Periodicals; Engineering economy -- Periodicals; 624.068
• Languages: English
• ISSNs: 1756-5154

Abstract

The purpose of this study is to identify the critical factors that affect the accuracy of detailed cost estimates. Using a questionnaire survey, respondents were invited to rate factors affecting the accuracy of detailed cost estimates identified from literature and interviews. The target population were quantity surveyors/cost estimators in Accra and Kumasi. The sampling technique utilised were purposive and snowballing techniques. The data collected were analysed using mean score ranking and factor analysis based on principal component analysis. Reliability test was further conducted on the five components identified. Based on factor analysis, accuracy of design and cost information, estimator's capacity, resource availability or pricing, project composition and site conditions were the components that affect the accuracy of a detailed cost estimate in Ghana. The findings offer industry players like clients, consultants and contractors to appreciate the key factors that influence the accuracy of detailed cost estimate, cost planning and control.