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- W2982349202 abstract "Cost estimating is the technical function undertaken to predict the total cost of executingof works within a timeframe using all available information and resources. Yet, thereare still overestimated or underestimated projects due to inaccuracy of cost estimation.Hence, this research aimed to assist the contractors in Malaysia in improving theaccuracy of the cost estimation by exploring the factors influencing the estimateaccuracy.This research consists of three major objectives which are to study the important ofaccuracy of cost estimation at the pre-tendering stage, to determine the factorsinfluencing the accuracy of construction cost estimate on the perspective of contractorsand to propose the ways for improving accuracy of cost estimation on the perspective ofcontractorsThis research has been conducted through literature reviews of the topic related to thecost estimation, followed by a field study. The questionnaire included fifty six factors,categorized into six groups and twelve ways to improve the accuracy of pre-tender costestimate. Two hundred and twenty questionnaires were distributed to contractors inKlang Valley as respondents.Previous findings outlined the important of cost estimate as provide an assessment odcapital cost for a specified work, develop a project budget to estimate the projectfunding requirement and obtain the financing for the project. The results of analysingthe fifty six factors considered in the questionnaire conclude that the main factorsinfluencing accuracy of pre-tender cost estimate are estimator’s experience, estimatingmethod used, clear and detailed drawings and specification, time allowed for preparingvcost estimates, expertise of consultants, clear scope definition for client, materials,project complexity, completeness of cost information and inflation rate.On the other hands, the results of analysing the twelve methods concluded that the mosteffective methods for improving accuracy of pre-tender cost estimate are ensuresufficient information for estimating, ensure proper design documentation and increasecost planning and control activities during the design stage. The study recommendedestimators to give more attention to the main factors identified in this study to developeffective strategies in order to achieve more reliable and realistic estimates, which would lead to successful projects." @default.
- W2982349202 created "2019-11-08" @default.
- W2982349202 creator A5070655427 @default.
- W2982349202 date "2018-01-10" @default.
- W2982349202 modified "2023-09-27" @default.
- W2982349202 title "Accuracy of Cost Estimation at the Pre-tendering Stage in Klang Valley" @default.
- W2982349202 hasPublicationYear "2018" @default.
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