Challenges of cost management technique implementation during pre-tender in Klang valley construction project

Abstract

Poor cost management could lead to the jeopardize of the fundamentals of managing the construction project. Many countries are facing many problems with cost performance which one of them was a cost overrun in the construction projects. Cost variation from the initial cost budget and cost plan has been known as common in the construction industry and it creates a concern to stakeholders on needing maintaining cost projection. This paper aims to identify the challenges of cost management which effect project costing during the pre-tender for landed residential building construction projects in Klang Valley. The research methodology used for this research is the quantitative method. One hundred forty-seven (147) respondents from the industry such as Clients, Contractors, Architects, Quantity Surveyors, Engineers and others from different organisations. The findings revealed that the challenges on cost management effecting to cost, is budgeting in a dynamic situation.