Department of Quantity Surveying

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https://ir.unilag.edu.ng/handle/123456789/3568

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Browsing Department of Quantity Surveying by Subject "Construction projects"

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    Open Access
    Correlates of clients’ payment pattern and construction project performance
    (School of Construction Economics and Management University of the Witwatersrand, Johannesburg, South Africa., 2014-02) Akinsiku, O. E.; Olubunmi, A.J.
    Construction projects all over the world are infamous with the occurrence of time overruns and non-performance. The non-performance in this sector of the economy has been a source of concern to stakeholders in the industry. Studies have identified several factors responsible for this. The effects of client's payment pattern on construction project delivery and performance was examined in this study with a view to identifying the various payment patterns utilised in a construction project, discover the major effects imposed on the project by these payment patterns, and the most suitable payment pattern for effective project delivery. To achieve these objectives, a survey was undertaken to obtained data from 120 respondents who practice as project consultants, contractors, project management organisations and financiers. The respondents were selected from construction practitioners in Lagos State, Nigeria, being a core area of construction activities. Six payment patterns were used during the course of the research; cost-reimbursement, incentives, open-book pricing approach, advance payments, milestone payments, and direct payments. Advance payment was found to be the most acknowledged payment while claims and extension of time was established to be the major effects of client's payment patterns on construction project delivery. The study also presents a relationship between client's payment pattern and project performance. Key implication of the study to construction practitioners is that prompt payment by clients to contractors will make the construction industry less litigious and prevents contractors from factoring risks of delayed payment into bids.
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    Open Access
    Model of Predicting Bidding Costs for Construction Projects in Nigeria using Public Procurement Act 2007
    (International Journal of Engineering Research & Technology (IJERT), 2020-02) Yahaya, M.L.; Umar, I.; Babalola, A.J.; Sani, M.
    The costs incurred by various stakeholders participating in the tendering process and their magnitude has attributed incongruity between government and contractors, economic drain and less competition in public sector projects. The aim of the study is to develop model that predict the transaction cost of bidding construction projects based on Public Procurement Act 2007 (PPA 2007). To achieve this, quantitative survey design based on structured questionnaire was used. The data collected from 143 sampled contractors selected using stratified sampling techniques from the North-West states of Nigeria were analyzed using Partial Least Squares-Structural Equation Modeling software. The results from the analysis revealed three (3) major sources of transaction costs identified from the field as; eligibility documents, contract administration costs, and securing related documents methods. In addition, the three identified transaction costs sources were found to be significant determinants of transaction costs for contractors bidding for construction projects of various types. Moreover, bidding costs model was found to exhibit good forecasting power that can be used to predict the magnitude of costs incurred by contractors in bidding projects in Nigeria. The study concludes that the transaction costs of contractors in bidding construction projects on average is 8.21% of contract sum after validating the model with real life data, and it will benefit incoming firms into the industry as a bidder by knowing their entry probable costs indicators for public projects. The study recommends that further studies should be explore to identify some potential factors such as Equipments, financial capability and professional staff strength which could provide new insights into bidding transaction costs incurred for construction projects.
  • Item
    Open Access
    Model of Predicting Bidding Costs for Construction Projects in Nigeria using Public Procurement Act 2007
    (International Journal of Engineering Research & Technology (IJERT), 2020) Yahaya, M. L.; Umar, I.; Babalola, A. J.; Sani, M.
    The costs incurred by various stakeholders participating in the tendering process and their magnitude has attributed incongruity between government and contractors, economic drain and less competition in public sector projects. The aim of the study is to develop model that predict the transaction cost of bidding construction projects based on Public Procurement Act 2007 (PPA 2007). To achieve this, quantitative survey design based on structured questionnaire was used. The data collected from 143 sampled contractors selected using stratified sampling techniques from the North-West states of Nigeria were analyzed using Partial Least Squares-Structural Equation Modeling software. The results from the analysis revealed three (3) major sources of transaction costs identified from the field as; eligibility documents, contract administration costs, and securing related documents methods. In addition, the three identified transaction costs sources were found to be significant determinants of transaction costs for contractors bidding for construction projects of various types. Moreover, bidding costs model was found to exhibit good forecasting power that can be used to predict the magnitude of costs incurred by contractors in bidding projects in Nigeria. The study concludes that the transaction costs of contractors in bidding construction projects on average is 8.21% of contract sum after validating the model with real life data, and it will benefit incoming firms into the industry as a bidder by knowing their entry probable costs indicators for public projects. The study recommends that further studies should be explore to identify some potential factors such as Equipments, financial capability and professional staff strength which could provide new insights into bidding transaction costs incurred for construction projects.