Cost Reduction Strategies for Building Construction Projects in Minna

Abstract

Reduction of the cost of construction is a constant goal for the construction industry. Despite the availability of various cost control techniques and project cost control software, many construction projects still do not achieve their cost objectives. To this end, the paper identified factors contributing to the increase in building construction cost and assesses the different strategies that could be used to reduce cost in building construction. Fifty questionnaires were distributed among professionals that were found on active construction sites using snowballing sampling technique. The results revealed that the three most important factors affecting building construction cost are construction management and contract arrangement (3.55), environmental factors and project resources (3.52) and design related issues (3.41). While the three most effective methods of minimizing building construction cost are design and value management strategy (4.02), project marketing and advertising strategy (3.90) and effective material management strategy (3.83). The problem of cost overrun will continue to be a serious issue in the construction industry if there is no clear allocation of responsibility for monitoring and controlling factors affecting construction cost to qualified individuals who can handle projects effectively.