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Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review

In order to establish a gap to be filled in a particular field, there is a need to gather information that allows the researcher to identify and analyse the current state of researches on the topic. Contingency sum estimation for projects plays an important role for inclusion for risk taken by the c...

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Main Authors: Hamid, R. A., Kehinde, F. J.
Format: Article
Published: Malaysian Institute Of Planners 2017
Subjects:
NA Architecture
Online Access:http://eprints.utm.my/id/eprint/80640/
http://dx.doi.org/10.4103/1793-5482.145539
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spelling my.utm.806402019-06-27T06:12:32Z http://eprints.utm.my/id/eprint/80640/ Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review Hamid, R. A. Kehinde, F. J. NA Architecture In order to establish a gap to be filled in a particular field, there is a need to gather information that allows the researcher to identify and analyse the current state of researches on the topic. Contingency sum estimation for projects plays an important role for inclusion for risk taken by the contractor on the bid amount. This is good in order to meet project objectives (cost, time, quality, health and safety, and environment). The main function of contingency sum is to cater for variations that arise during the construction phase of projects. The aim of the study is to identifying and examine the various methods for estimating contingency sum for projects with a view to propose an appropriate method which will be suitable for a specific project in order to increase accuracy and reduce cost overrun. A literature review of selected papers (journals, conference proceedings and theses) on contingency estimation was carried out. The major findings from this study is that most studies were carried out on building projects while few were carried out on highway projects. From the analysis carried out, no single method of estimating has been effective for all types of projects. These methods of estimating contingency sums have developed over the years as a result of shortcomings of one method after the other. It is therefore recommended that peculiarity of each project, ease of using each of the methods and accuracy of the estimates needed should be the basis of choosing method of estimating contingency sum. Malaysian Institute Of Planners 2017 Article PeerReviewed Hamid, R. A. and Kehinde, F. J. (2017) Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review. Planning Malaysia, 15 (1). pp. 13-20. ISSN 1675-6215 http://dx.doi.org/10.4103/1793-5482.145539 DOI:10.4103/1793-5482.145539
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
topic NA Architecture
spellingShingle NA Architecture
Hamid, R. A.
Kehinde, F. J.
Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review
description In order to establish a gap to be filled in a particular field, there is a need to gather information that allows the researcher to identify and analyse the current state of researches on the topic. Contingency sum estimation for projects plays an important role for inclusion for risk taken by the contractor on the bid amount. This is good in order to meet project objectives (cost, time, quality, health and safety, and environment). The main function of contingency sum is to cater for variations that arise during the construction phase of projects. The aim of the study is to identifying and examine the various methods for estimating contingency sum for projects with a view to propose an appropriate method which will be suitable for a specific project in order to increase accuracy and reduce cost overrun. A literature review of selected papers (journals, conference proceedings and theses) on contingency estimation was carried out. The major findings from this study is that most studies were carried out on building projects while few were carried out on highway projects. From the analysis carried out, no single method of estimating has been effective for all types of projects. These methods of estimating contingency sums have developed over the years as a result of shortcomings of one method after the other. It is therefore recommended that peculiarity of each project, ease of using each of the methods and accuracy of the estimates needed should be the basis of choosing method of estimating contingency sum.
format Article
author Hamid, R. A.
Kehinde, F. J.
author_facet Hamid, R. A.
Kehinde, F. J.
author_sort Hamid, R. A.
title Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review
title_short Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review
title_full Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review
title_fullStr Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review
title_full_unstemmed Choosing an appropriate contingency sum estimating methods for highway construction projects in Nigeria: A literature review
title_sort choosing an appropriate contingency sum estimating methods for highway construction projects in nigeria: a literature review
publisher Malaysian Institute Of Planners
publishDate 2017
url http://eprints.utm.my/id/eprint/80640/
http://dx.doi.org/10.4103/1793-5482.145539
_version_ 1643658472621867008
score 13.211869

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