Factor Affecting the Cost of Provisional Sum in Construction Industry

Sor, Siew Boon (2020) Factor Affecting the Cost of Provisional Sum in Construction Industry. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

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Abstract

Accurate cost estimates are crucial to the effective realisation of construction projects. The selection criteria for cost estimating the provisional sums for construction project is a crucial issue as construction projects is facing a lot of challenges in order to achieve satisfactory cost performances upon the completion of construction project. The aim and objectives of this study is to identify the various factors affecting the pricing of provisional sums for construction projects in Malaysia and propose new framework to enhance the accuracy for estimates the provisional sums in construction project, Malaysia. Online questionnaires survey were distributed to 40 G7 Contractors and 20 registered consultant Quantity Surveyors within Petaling District, Selangor. The data collected using descriptive analysis and frequency distribution method. The research found that a statistically significant relationship between G7 Contractor and registered consultant Quantity Surveyor on the essential factors affecting the pricing of provisional sums. It was concluded that the projects risks and uncertainty, experience in similar projects and completeness of project information are the most significant factors affecting the cost estimating of provisional sums.