Alqahtani, A and Whyte, A (2016) Evaluation of non-cost factors affecting the life cycle cost: An exploratory study. Journal of Engineering, Design and Technology, 14(4), pp. 818-834.
Abstract
Purpose This paper aims to identify the main non-cost factors affecting accurate estimation of life cycle cost (LCC) in building projects. Design/methodology/approach Ten factors affecting LCC in building project cost estimates are identified through literature and interviews. A questionnaire survey is conducted to rank these factors in order of priority and provide the views of cost practitioners about the significance of these factors in the accurate estimation of LCC. The data from 138 construction building projects completed in UK were collected and analysed via multiple regression to discover the relationship between capital and LCCs and between non-cost factors and cost estimation at each stage of the life cycle (capital, operation, maintenance and LCC). Findings The results of analysis of existing LCC data of completing project and survey data from cost professionals are mostly consistent with many literature views and provide a reasonable description of the non-cost factors affecting the accuracy of estimates. Originality/value The value of this study is in the method used, which involves analysis of existing life data and survey data from cost professionals. The results provide a plausible description of the non-cost factors affecting the accuracy of estimates.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost estimation; questionnaire survey; multiple-regression; building projects; life cycle cost; non-cost factors |
| Index terms: | exploratory study, estimate, non-cost factor, practitioner, life cycle, estimation, cost estimating, questionnaire, methodology, life cycle cost, interview, multiple-regression, project cost, survey, accuracy |
| Subjects: | professional development, economics, practitioner, financial and cost management, research methods, tendering, data collection methods, value management, statistical analysis |
| Topics: | Roles and Professions, Project Management, Research Practice, Information Management, Cost Management, Procurement |
| Descriptive scope: | 5 PCTEA |
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