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Cost profiling of water infrastructure projects

Version 2 2024-06-04, 11:14
Version 1 2018-04-24, 10:34
journal contribution
posted on 2024-06-04, 11:14 authored by PED Love, Dominic Doe Ahiaga-DagbuiDominic Doe Ahiaga-Dagbui, SD Smith, MCP Sing, Olubukola TokedeOlubukola Tokede
The expected final budgeted costs of infrastructure assets are often exceeded during project delivery. Being able to determine the likelihood of changes to the final budget can enable clients to implement strategies to manage and control costs during construction. To understand the changing nature of costs, the cost profiles of 1,093 water infrastructure projects that were delivered by a water utility company are examined. Cost overruns were experienced in 656 projects. Only 1 project was delivered on budget with the remaining 436 being completed under the ‘Final Budget Approval’. A mean cost overrun and underrun of +19.97% and -32%, were found, respectively. The ‘best fit’ distribution for cost overruns and underruns for determining their probability of occurrence were calculated. The research moves beyond examining the cost performance of heterogeneous datasets that have dominated previous studies to the use of a homogeneous sample, which enables more reliable contingency forecasts to be determined.

History

Journal

Journal of Infrastructure Systems

Volume

24

Article number

ARTN 04018023

Pagination

1 - 12

Location

Reston, Va.

ISSN

1076-0342

eISSN

1943-555X

Language

English

Publication classification

C1 Refereed article in a scholarly journal

Copyright notice

2018, ASCE

Issue

4

Publisher

ASCE-AMER SOC CIVIL ENGINEERS