Ogunsemi, D R and Jagboro, G O (2006) Time-cost model for building projects in Nigeria. Construction Management and Economics, 24(3), pp. 253-258. ISSN 01446193
Abstract
The concept of project duration is important in assessing the success or viability of a construction project. A time-cost relationship for construction projects in Nigeria has been developed based on Bromilow's time-cost model. Cost data on 87 completed building projects executed within the period 1991-2000 were obtained. The data were subjected to regression analyses using double log and later the piecewise model with breakpoint. For the Nigerian situation, the Bromilow's time-cost model was found to be T=63C0.262 with poor predictive abilities (R=0.453, R2=0.205). An improved model using piecewise model with good predictive abilities (R=0.875, R2=0.765) was found to be T=118.563-0.401C (C ≤ 408) or 603.427 + 0.610C (C>408). The model is shown to be useful in predicting construction project durations.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost; cost modelling; Nigeria; project management; time |
| Index terms: | construction project, Nigeria, project management, regression analysis, modelling, duration, cost data, time-cost model |
| Subjects: | project controls, statistical analysis, quantity surveying, accounting and finance, Geography, production management, project management theory and practice, analytical methods |
| Topics: | Time Control, Risk Management, Cost Management, Engineering Principles, Research Practice, Geographical Context, Project Management |
| Descriptive scope: | 3 PCA |
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