Improving accuracy of road projects' estimates in the Ghanaian construction industry

Akinradewo, O I; Aigbavboa, C O and Oke, A E (2020) Improving accuracy of road projects' estimates in the Ghanaian construction industry. Journal of Financial Management of Property and Construction, 25(3), pp. 407-421. ISSN 1366-4387

Abstract

Purpose: The inaccuracy of preliminary estimates sometimes results in wasted development effort if the project is abandoned. To curb this menace, this study aims to assess the different measures to improve the accuracy of road project estimates. Design/methodology/approach: Quantitative research design was used for this study, and questionnaire was designed to retrieve data from the target population. Engineers and quantity surveyors in Accra, Ghana formed the target population and were contacted by using an e-questionnaire through their professional bodies owing to location constraints. Descriptive and exploratory factor analyses were used in analysing the retrieved data. Mann–Whitney U non-parametric test was also used to compare the opinions of the respondents. Findings: The study revealed that factors categorised as due diligence by estimator should be given more attention for accuracy of estimates to be improved. Research limitations/implications: This study was limited to Accra, Ghana owing to time and distance constraint. Practical implications: Proper consideration must be given to preliminary site investigation when preparing the estimates for road projects. This will provide the estimator with information on the physical features of the project environment. Originality/value: Defined clusters of measures to improve estimate accuracy as highlighted in this study rather than merely ranked variables which are done by previous research studies will set the tone and provide insights for effective stakeholders' actions. The study also bridges the gap between theory and practice by outlining how the findings can be implemented practically to achieve more accurate preliminary estimate for road projects. With efforts aligned with the core characteristics of each cluster, accuracy can be improved.

Item Type: Article
Uncontrolled Keywords: cost planning; estimation; Ghana; project performance
Index terms: project performance, site investigation, road project, construction industry, estimate, quantitative research, quantity surveying, estimation, Ghana, engineer, questionnaire, estimator, population, methodology, cost planning, Accra, exploratory factor analysis, accuracy
Subjects: geotechnical engineering, demography, statistical analysis, industry analysis, research methods, financial management, infrastructure engineering, project management theory and practice, professional development, Geography, financial and cost management, data analysis and analytics, profession, data collection methods
Topics: Roles and Professions, Cost Management, Engineering Principles, Information Management, Geographical Context, Project Management, Research Practice, Urban Studies
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