ASSESSING FACTORS AFFECTING COST OF INDUSTRIALIZED BUILDING CONSTRUCTION IN NIGERIA
Abstract
This study aims to assess the impact of various factors affecting the cost of industrialized building construction in Nigeria. Through a comprehensive literature review and empirical data collection via surveys and interviews with industry professionals, this research identifies key cost-influencing factors such high material cost, unstable government policies, inadequate manufacturing facilities, high overhead cost and material wastage. The study employs statistical tool to analyze the data, including the calculation of the Relative Importance Index (RII) to rank these factors. Findings reveal that material cost, labor cost, economic instability and inefficient project management are among top contributors to cost escalation. The study concludes with recommendation for mitigating these costs, emphasizing the need for improved policy frameworks, and better training program for construction personnel. This research provides valuable insight for stakeholders aiming to optimize cost and improve the efficiency of industrialized building project in Nigeria
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