Study on Price Estimating Method in Selected Ethiopian Road Administration Construction Projects
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Date
2024-05
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Addis Ababa Univesrity
Abstract
Road construction is a major sector for national income growth and generates employment within a country. Accurate road construction project price estimation solves the project finance problem for country by providing efficient resource allocation. Hence, identification and analysis of price estimation accuracy is important for successful project completion. Accordingly, this research attempts to identify the major shortcoming and limitation during price estimation, factors leading to price estimation inaccuracy road construction sector, computer price estimation software used for price estimation; which can serve as the way to provide structured approach for price estimation stakeholder. Literature review and desk study were done to investigate price estimation method in road construction projects. The questionnaire survey was conducted with stakeholders from contractors, client and consultants. The questionnaire include total of fourteen major factor affecting price estimation process. In addition, other questions which enable to achieve the objectives of the research were developed. The result of the desk study indicated that out of ten investigated road construction projects eight projects encounter price variance. All projects have encountered project delay. There is lack of database technique and advanced price estimating method like ANN and 74% of respondent indicates existence of price estimation inaccuracy. The survey result of respondent indicates project size, project location, market condition and external event are major factor affecting price estimation accuracy. In order to improve price estimation accuracy data availability and documentation should be improved; identify each factor affecting price estimation accuracy and document it; implement advanced computer price estimating software. In addition, use specialized group for each road work and finally check estimate with independent estimator.
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Keywords
Accuracy, Computer program, Price estimation, ERA, Method