Significant factors affecting the New Zealand transportation infrastructure project cost – quantity surveyors' perception
Built Environment Project and Asset Management, ISSN: 2044-1258, Vol: 13, Issue: 5, Page: 756-777
2023
- 2Citations
- 18Captures
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
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Article Description
Purpose: Cost overrun is one of the critical issues faced in construction projects, as nine out of ten projects will likely go over the budget. In particular, transportation infrastructure (TI) projects, such as roads and bridges, are vastly affected by cost overruns, which can delay the entire project. This research intends to identify the factors affecting the cost overruns in New Zealand (NZ) TI projects. Design/methodology/approach: The research was conducted using a questionnaire survey involving ninety-two participants experienced in infrastructure project estimation in NZ. Quantitative methods were used to analyse the data. Findings: Fifty-three factors were identified through literature under ten categories. Based on the survey, ten significant factors were identified with a high grade of importance. The three most critical factors were “frequent design changes,” “poor planning and scheduling” and “inadequate tender documentation.” It was found that the cost overrun is primarily affected by the pre-contract stage causes. Research limitations/implications: The data were collected from professionals involved in NZTI projects. Therefore, the implications may be different for other contexts. Practical implications: The results will improve the current estimation practice by developing a new statistical model considering all the significant variables for NZTI projects. Originality/value: Although much research is done to identify these factors, they are only considered in a few statistical cost models. These new statistical models mainly focused on technical variable factors similar to the current standard estimation process. However, the results of this research, qualitative and quantitative factors, will be used for the future cost model.
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