DEVELOPING A MODEL FOR ENHANCING COST MONITORING AND CONTROL IN THE CONSTRUCTION FIRMS

Elsayed, Mohamed Adel; Khalil, Ahmed Abdel Moamen; Mohammed, Shady Ahmed; Attia, Tarek Mahmoud

doi:10.21608/ijaebs.2022.165191.1053

	DEVELOPING A MODEL FOR ENHANCING COST MONITORING AND CONTROL IN THE CONSTRUCTION FIRMS
International Journal of Advanced Engineering and Business Sciences
Volume 4, Issue 2, June 2023, Page 110-143 PDF (2.13 MB)
Document Type: Original Article
DOI: 10.21608/ijaebs.2022.165191.1053
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Authors
Mohamed Adel Elsayed ¹; Ahmed Abdel Moamen Khalil ²; Shady Ahmed Mohammed ³; Tarek Mahmoud Attia ⁴
¹Engineer and Master's Student, Civil Engineering Department, Faculty of Engineering at Shobra, Benha University, Egypt
²Assistant Professor, Civil Engineering Department, Faculty of Engineering at Shobra, Benha University, Egypt
³Lecturer, Civil Engineering Department, Faculty of Engineering at Shobra, Benha University, Egypt
⁴Professor and Director, Construction Engineering and Project Management Research Institute, Housing and Building National Research Center, Egypt
Abstract
Construction cost is one of the most important constrain for the success of the project. Cost monitoring and control in the construction firm is one of the significant processes of cost management practices that are required for the survival and growth of every construction firm. A lack of sufficient construction cost monitoring and control by construction firms contributes largely to construction cost overruns. Despite all the efforts made to control cost, some construction firms still continue to unrealize their expected profit margin at the end of the project completion, due to the fact that many construction firms’ cost control systems and models are not sufficient. This study provides a model of processes for enhancing cost monitoring and control in the construction firms by making the integration of cost estimation and cost control and helping the managers to evaluate the performance and control resource consumption through output reports like cost report, productivity report, and wastage report. The model shows the inputs required as cost estimation for different project resources, and processing required to make cost baseline, actual cost, and coding system.
Keywords
Cost Control; Cost Management; Productivity; Quantity Surveying; Resource Consumption Optimization


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