Cost Control Variables in Building Construction (A case study of Ibadan North Local Government, Oyo State, Nigeria)

Abstract

Cost control methodologies in structural engineering are of vital importance due to the alarming escalation of construction cost which needs to be effectively controlled. The Report introduces the concept, needs and aims of cost control. It also visualizes the terms used and those involved in cost control work. The body of the research work centre on the reasons for increasing cost and the various steps taken to control this increase. Questionnaires were designed and administered to professionals within the construction industry which were analyzed and several deductions were derived from this analysis. Conclusion finding reveals that preparation of the cost control of project is highly important as it would help professionals in the construction field to maximize fund and use it effectively during project execution. The recommendations were that, the government should enact stable policies to strengthen the value of her local currency, the construction industries and the government should embrace the use of alternatively locally sourced materials that is less cheap than conventional building construction materials, avenues for soft loans at minimal interest rates should be made available for sub-contractors by governments, Finally, the government should establish a regulatory body to carefully monitor the values of land cost at various locations in order to checkmate the excesses of the land owners that indiscriminately increase the sales of lands inappropriately that affects the total construction costs.