Zhou, J; Tam, V W Y; Qin, Y and Illankoon, C (2024) A critical review and comparative analysis of cost management on prefabricated construction research (2000–2022). International Journal of Construction Management, 24(9), pp. 997-1006. ISSN 1562-3599
Abstract
Prefabrication construction has gained attention in the construction industry. The cost of prefabrication has got mixed reviews. Cost management in prefabricated construction (CMPC) includes many cost considerations such as initial design costs, supply chain cost considerations, maintenance costs and assembly costs. These costs are inter-linked and thorough understanding on cost management is essential. It is important to develop a holistic cost management system to capture all the economic, social and environmental aspects of prefabricated construction. The aim of this research is to conduct as a critical review and analysis of cost management in prefabricated construction holistically. The literature review selected 63 articles for this research study from 2000 to 2022. The research showed that there is an uptake in research on this research area since 2005. The study identified four main research categories in CMPC namely 1) cost estimating, 2) cost optimization, 3) economic performance and 4) cost management models. Previous studies mostly focused on estimating costs and comparison studies with conventional construction. Recently studies focused more on developing cost model to integrate supply chains and other considerations into cost evaluation. Based on the literature review, there are several future directions in CMPC. Cost estimating should now focus on identifying the effect of each cost determinant in project scenarios to provide more accurate results. Future studies are also expected to focus on BIM and big-data based optimization models.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost management; prefabricated construction; research direction; research review |
| Index terms: | determinant, construction industry, prefabrication, maintenance cost, future study, design cost, cost management, estimating, cost model, literature review, comparative analysis, cost optimization, cost estimating |
| Subjects: | data analysis and analytics, financial and cost management, risk assessment, research design and methodology, industry analysis, building construction, financial management, economics, accounting and finance |
| Topics: | Construction Technology, Risk Management, Research Practice, Cost Management, Business Strategy |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here