Record Details

Perceived benefits of adopting Standard – Based pricing mechanism for mechanical and electrical services installations

Construction Economics and Building

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Field Value
 
Title Perceived benefits of adopting Standard – Based pricing mechanism for mechanical and electrical services installations
 
Creator Amuda Yusuf, Ganiyu
Mohamed, Sarajul Fikri
 
Subject Built Environment; Quantity Surveying
Building fabrics; Forecast; Mechanical and Electrical services; Standard Method of Measurement; Standard-Based Pricing Mechanism;
Building Economics
 
Description Cost is an important measure of project success and clients will expect a reliable forecast at the early stage of construction projects to inform their business decision. This study was undertaken to investigate the current practices in managing cost of mechanical and electrical (M&E) services in buildings. The perceptions of practitioners on the benefits of adopting Standard – Based Pricing Mechanism for M&E services as used for building fabrics and finishes was ascertained. The methodology adopted for the study was semi – structure interview and questionnaire survey.  Inferential statistics technique was used to analyse the data collected. The results revealed that, M&E services tender documents are often based on lump sum contract. Practitioners are of the opinion that the adoption of Standard – Based Pricing Mechanism (SBPM) could enhance the quality of M&E services price forecast; ensure active post contract cost monitoring and control; encourage collaborative working relationship; enhance efficient whole life cycle cost management; improve risk management and facilitate efficient tendering process. The study suggested the development of local Standard Method of Measurement for M&E services and proposed strategies to facilitate the adoption of SBPM as basis for forecasting contract price of mechanical and electrical services in buildings.
 
Publisher UTS ePRESS
 
Contributor Research Management Unit, Universiti Teknologi Malaysia
 
Date 2014-06-03
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer reviewed invited commentry
Survey
 
Format application/pdf
 
Identifier http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/3864
10.5130/AJCEB.v14i2.3864
 
Source Construction Economics and Building; Vol 14, No 2 (2014): AJCEB; 104-119
2204-9029
 
Language eng
 
Relation http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/3864/4059
 
Coverage South East Asia
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Rights Copyright (c) 2014 Ganiyu Amuda Yusuf, Sarajul Fikri Mohamed
http://creativecommons.org/licenses/by/4.0