An exploration of theoretical concepts and methods for assessing risk impacts on the variability between design stage elemental cost plan and tender sum

Simple item page
aut.conference.typePaper Published in Proceedings
aut.researcherRotimi, James Olabode Bamidele
dc.contributor.authorAdafin, J
dc.contributor.authorWilkinson, S
dc.contributor.authorRotimi, JOB
dc.contributor.authorOdeyinka, H
dc.date.accessioned2014-02-09T22:58:48Z
dc.date.available2014-02-09T22:58:48Z
dc.date.copyright2014
dc.date.issued2014
dc.description.abstractReliable prediction of final tender sums of building projects from the cost plan has posed challenges for construction industry practitioners in New Zealand, especially Quantity Surveyors. No matter how much care and effort is put into the preparation of design stage elemental cost plans, significant deviations are usually observed between these cost plans and the final tender sum. The major reason for this deviation is the risk inherent in both design and construction. This study is a literature-based theoretical exploration and part of an on-going doctoral research aimed at assessing the impacts of risk on the variability between design stage elemental cost plan and final tender sum. This paper first provides a review of the risk elements inherent in preparing the design stage elemental cost plan by demonstrating the theoretical context. Also, it develops a methodology for assessing risk impacts on the variability between the design stage elements cost plan and final tender sum. The insights gained from the foregoing steps then helped in devising theoretical concepts for securing the design stage elemental cost plan as a reliable budgetary tool that guarantees cost certainty for building projects, and also a methodological frame-work for assessing the variability between the design stage elemental cost plan and final tender sum.
dc.identifier.citationCIB W107 Conference held at Orchid Hotels and Events Centre, Lagos, Nigeria, Lagos Nigeria, 2014-01-27to 2013-12-30
dc.identifier.urihttps://hdl.handle.net/10292/6707
dc.publisherCommission of the International Council for Research and Innovation in Building and Construction
dc.relation.urihttp://www.cibw107conference2014.com/
dc.rightsIn principle all ever produced CIB publications are (or are being) included in the open access CIB library section of the ICONDA database as free downloadable PDF documents.
dc.rights.accessrightsOpenAccess
dc.subjectElemental cost plan
dc.subjectExploration
dc.subjectFinal tender sum
dc.subjectRisk
dc.subjectVariability
dc.titleAn exploration of theoretical concepts and methods for assessing risk impacts on the variability between design stage elemental cost plan and tender sum
dc.typeConference Contribution
pubs.elements-id153227
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Design & Creative Technologies
pubs.organisational-data/AUT/Design & Creative Technologies/School of Engineering
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
2014 CIB JA.pdf
Size:
1.83 MB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
licence.htm
Size:
30.34 KB
Format:
Unknown data format
Description:
Download
Collections
School of Engineering, Computer and Mathematical Sciences - Te Kura Mātai Pūhanga, Rorohiko, Pāngarau