Assessment of Cost and Time Impacts of Public Sector Construction Projects in Ghana
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Date
2011
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Abstract
This thesis assesses cost and time impacts of construction projects in Ghana. It is a key issue, because many project managers of construction industries have recently started to utilize innovative cost and time impact assessment methods that provide new incentives for improving construction quality. These emerging strategies place an increasing pressure on decision makers in the construction industry to search for an optimal resource utilization plan that minimizes construction cost and time while maximizing its quality. Thirty (30) selected project supervisors of LESTAKO Company Limited and BEROCK VENTURES in the Greater Accra Region were interviewed with a well detailed questionnaire to elicit responses on the cost and time impacts on construction of projects. The research study revealed that cost and time impacts are inevitable on construction projects such that they are inherent in all of project construction’s undertakings. Additionally, the paper revealed that the issue of cost and time impacts on project construction could be managed by using construction recognized and accepted methodologies which identifies and quantifies the overall impact to the project. The research concludes that, on accounting for each of the strategies explained in the survey, it is clear that there is still a need for innovative research in the area of forecasting systems in project construction with regards to cost and time. Again, there is the lacking of many aspects in forecasting methods implemented by today’s Project Managers in Ghana. In a challenging construction industry nowadays, to have accurate forecasting methods require an approach that would gather subjective data and consider experts’ experience and knowledge. In this regard the paper recommends that an effective and efficient procurement system should be established within projects. Procurement has the potential to cause major delays to construction projects. Therefore, procurement process should be improved in order to avoid supply delays and chaos in the construction delivery process in Ghana.
Description
A thesis submitted to the Institute of Distance Learning, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the Commonwealth Executive Master of Business Administration (CEMBA),