Assessment of post contract cost control issues in Nigeria: Quantity surveyors' perspective

Construction cost managers face numerous challenges in maintaining control over project budgets, largely due to the growing complexity of projects and the dynamic nature of the industry. These factors contribute to cost overruns, a persistent global issue. This study identifies and examines the key issues encountered at various stages of construction activities and evaluates their respective impacts on the cost control process. Using an exploratory approach, data was collected using a survey, and the issues were analyzed through Partial Least Squares Structural Equation Modelling (PLS-SEM) using SmartPLS software. The issues were categorized based on the stages of the construction process cycle, and their significance was assessed using Importance-Performance Map Analysis (IPMA). The findings revealed that all identified issues are significant to post-contract cost control, with varying levels of performance indicating their differing impacts on the cost control process. Notably, challenges such as keeping accurate cost information, resource control, reconciling changes with work schedule, and reconciling budget with expenditure emerged as major contributors to cost overruns. The study recommends improving cost information accuracy, enhancing resource control measures, streamlining change reconciliation and implementing regular review of budget against expenditure to mitigate these issues and improve overall cost control in construction projects.