Impact of Cost of Construction Projects in Cape Coast Metropolis
Tomme: 66 (70) Fascicle: 1 | 2020
Pages: 95-112
Abstract text:
Cost performance of building construction projects is a key success criterion for clients. Projects require budgets which sets the step and guarantees the client’s financial commitment and provide basis for cost control and measurement of cost performance of the project in Cape Coast Metropolis. The aim of this study was to investigate the factors that affect the final cost of construction project. Purposive sampling technique was employed during the administration of the questionnaire. Eighty (80) questionnaires were distributed among construction professional (works engineers, quantity surveyors, project managers, architects, site supervisors and contract managers) on government projects within Cape Coast Metropolis. Out of the eighty (80) questionnaires administered, seventy-five (75) were returned, representing 93.8% response rate. Majority of the firms were D1K1 and D2K2 contractors respectively. Findings from the study show that unexpected ground conditions, design changes, pricing or billing errors, inflation/relative price changes and purchasing product without warranty were the major factors. Whiles, changes in the cost of the project, delay in completion, extension of project, project abandonment and increase in the scope of work during design changes were identified as the major effects. Therefore, extensive visibility studies, site visit, ground investigation and explorations should be carried out. Clients should be articulated well to aid designers to come out with designs that will meet the required needs. Effective market survey and design planning should be judiciously undertaken. Quantity surveyors and cost technicians should undertake rigorous measurement of all work items and clients should be certain of the extent of their financial commitment before initiating a contract.
Key Words:
cost performance; construction projects; design changes; estimated cost; quality; time; variations
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