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Assessment of Determinants of Construction Tender Sum

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Description

– Assessment of Determinants of Construction Tender Sum –

Download Assessment of Determinants of Construction Tender Sum. Quantity Survey students who are writing their projects can get this material to aid their research work.

Abstract

Identification and assessment of factors influencing construction tender sum help in building more reliable cost models that help Quantity surveyors come up with a more accurate cost estimate.

Several types of research have been carried out in the UK and other developed countries with results varying on one hand based on the questions asked and on the other hand the nature of the economy.

This research was undertaken to assess the factors that affect the tender sum in Nigeria. Factors were identified to be peculiar to Nigeria. The research was two-phase research. The first was the literature review.

Introduction

Construction estimation is an experience-based process (Elhag et al., 2005).

The code of estimating practice produced by the Chartered Institute of Building (CIOB, 1997) defined estimating as “the technical process or function undertaken to assess and predict the total cost of executing an item(s) of work in a given time using all available project information and resources.

Based on this definition, estimators‟ estimated cost is based on the time of construction or project duration, cost of material, method of construction etc. and estimators are aware that most of these factors can be readily estimated.

The estimators in the construction team are usually the Quantity surveyors.

The Quantity surveyor as an expert is employed early enough in the project so as to advice the client/Architect on the probable cost implications of the design decisions and to assist in obtaining economical and efficient design (Seeley, 1996).

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