Variability Analysis of Prime Cost Sums

Authors

  • Ime Johnson Ikpo Reader, Department of Building, Obafemi Awolowo University, Ile-Ife

:

https://doi.org/10.9744/ced.10.1.pp.%2040-44

Keywords:

prime cost sums, contract sums, cost ratios, variability.

Abstract

This paper investigated the variability levels of prime cost sums in building projects in order to establish the reliability of such estimates in bills of quantities. It involved a purposive sampling of forty-six executed projects in South-western Nigeria from which data on estimated and final prime cost sums as well as estimated and final contract sums were procured. Ratios interrelating the four variables were generated and their mean values determined. The mean prime cost sum overrun was found to be 41% of the estimated sums. However, a negative relationship between the prime cost sums and the final contract sums was established. Based on observed variations, models were developed to predict any of the ratios in general, and specifically, the practical prime cost range in order to effectively control overall project costs.

Downloads

How to Cite

Ikpo, I. J. (2008). Variability Analysis of Prime Cost Sums. Civil Engineering Dimension, 10(1), pp. 40-44. https://doi.org/10.9744/ced.10.1.pp. 40-44

Issue

Vol. 10 No. 1 (2008): MARCH 2008

Section

Articles

License

Authors who publish with this journal agree to the following terms:
  1. Authors retain the copyright and publishing right, and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) followingthe publication of the article, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).