Quantity Surveying- Conference Paper

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Browsing Quantity Surveying- Conference Paper by Subject "Contractors"

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    Open Access
    Contributions of Construction Project Team to Cost Overruns: The Contractors’ Perspective
    (American Society of Civil Engineers (ASCE), 2014-05) Akinsiku, O. E.; Akintola, A; Ameh, O.; Ige, A.
    A project is adjudged successful if it is completed to time, within the budgeted cost and meets client’s expectation. However, there is the global issue of construction cost and time overruns, which has contributed to poor project performance. Contractors have always been seen as the culprit in this regard, whereas, the contractor is not solely involved in construction projects, there are other project team members who determine the path of the project success. This study assesses the causes of cost overruns, viewing this from the contractor’s assessment of the contribution of its project team members. The study was conducted using questionnaire surveys in which 100 questionnaires were distributed to contractors using purposive sampling; data were analyzed by the use of descriptive statistics. The results show that lack of adequate pre-contract planning and project team coordination are the most significant factor among construction professionals leading to cost overruns. The study made recommendations which are of good benefit to the client, project team members and contractors.
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    Open Access
    Effects of delayed payment of contractors on construction project delivery in Nigeria
    (The Construction, Building and Real Estate Research Conference of the Royal Institution of Chartered Surveyors, 2016-09-20) Akinsiku, O. E.; Ajayi, O.M.
    Delay in paying construction contractors has impacted negatively on the effectiveness of the contractor and as such affect project delivery schedule. Failure to pay contractors for work executed might lead to the contracting firm being insolvent. This research is a form of quantitative research and it a cross -sectional research survey which is a combination of descriptive and explanatory research design. The population of the study comprises of clients, consultant and contractors. A total of 65 questionnaires were distributed and 47 were returned and used for the analysis. It gives a response rate of 72%. Random sampling technique method was used, thus the respondents has equal chances of being selected. Statistical package for social sciences (SPSS 20th version) was used to analyse the data via descriptive and inferential statistic. The finding shows that the causes of delayed payment were unrealistic cash flow, error in claims, poor financial problems and disagreement on valuation of work. The impact of delayed payment is delay in project progress which affects the schedule of work and leads to cost overrun and extension of time. In conclusion clients should seek co- investors for support on financial commitment. It was recommended that the stakeholders should work as a team in the execution of project to avoid bottlenecks usually encountered in agreeing contractors’ payment.