logo

Building Costs 200468 || Western Sydney University

   

Added on  2020-03-02

7 Pages1430 Words107 Views
FACTORS INFLUENCING ACCURACY OF COST ESTIMATES IN EARLY STAGE BUILDINGStudent’s NameClassTutor’s NameInstitution’s NameCity Date1000 words

Building Costs 2IntroductionDuring estimation, various factors need to be put under consideration in that the market condition produces a grave effect on the estimation. These many market factors that pose an influence to the cost estimates include the material quality, material prices, and material availability. Also, there comes a number of methods that can be put to use in conducting cost estimation. These methods include a functional unit, cubic method, floor area unit and Storey enclosure[CITATION Aus14 \l 1033 ]. Factors influencing accuracy of cost estimates in early stage building1.Material pricesThis factor is an example of the very fluctuating factors present in the wide market. The materials used in construction have a range starting from large items that include gravel, steel, bricks, concrete, timber, electronic and plumbing fittings to the smaller more basic materials that are the screws and nails. The cost of buying the materials named above is heavily affected by the production ability of the manufacturer. The manufacturer’s ability affects in a way that when these materials are bought during times that their orders are many, then their prices are set to be higher than the times when their orders are much lesser. Prices of materials also are affected by the volume of buyers present to the volume of materials present. When the buyers are more the materials prices get high[CITATION Roy16 \l 1033 ]. 2.Material Quality.In estimation, material quality in the used materials also need to be added to the considerations in that when a higher quality material is used, the cost is directly affected and increases. However, there are incidences that the cost of construction increases due to the use of low-quality materials. This incidence is due to the overall material loss in the construction process. Low-quality materials tend to

Building Costs 3damage easily when used. Thereby forcing more funds to be routed for repair hence increasing the material estimate. The easily damageable material occurs due to the lacking standards in the material and management systems. An example can be taken from the Mara large Project case scenario. It is therefore concluded that a profitable construction is doable by use of high-quality materials that meet minimum standard required in the construction job that ultimately evades repair of construction materials. High-quality materials reduce the overall cost estimate of the project being undertaken in that the material will last for a longer duration of time before it collapses. Faulty materials should be avoided[CITATION All15 \l 1033 ]. 3.Material AvailabilityIn availability, the ease of finding any raw material that is to be used in construction affects cost estimation. For example, if raw construction materials like stone or timber are obtained easily, then the cost estimation of the construction project is reduced. In cases where the materials required are difficultto obtain in the surrounding area, the cost estimation is increased[CITATION Bry10 \l 1033 ]. Material sustainability is also an influencing factor. An example is when a material is found commonly in the surrounding area then the cost reduces but if it is difficult to locate, the cost sky rockets. Take the teak tree, the tree is not easy to grow and lack of conducive climate in the neighboring are makes it not be grown thereby it requires transportation to the site[CITATION Rob16 \l 1033 ]. This, therefore, increases the cost per meter. Hence it is advisable to use materials commonly present and inexpensive. One moreadvice is the need to locate the constructing area in places near material sources to avoid transportationcosts. Availability in terms of quantity is critical when buying materials. If materials are bought in bulk from one supplier they become cheaper than if bought from a variety of suppliers. Moreover, the bulk buying reduces the loss of materials. Loss due to thievery and wastage is avoidable. An example such as the buying of yard lumber from a yard supplier, bricks supplied by brick-makers and screws supplied by

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Factors That Influence Cost Accuracy
|7
|1596
|79

Impact of Material Market on Early Stage Building Cost Estimation
|7
|1454
|476

200468- Construction Projects| Cost Estimation Techniques
|9
|1596
|77

Report On Estimation Of Cost | Financing
|8
|1574
|279

United States Department of Agriculture
|5
|781
|15

Factor Influencing Cost Estimation in Construction Project 2022
|3
|882
|17