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COST AND TIME PERFORMANCE OF CONSTRUCTION PROJECTS: A COMPARATIVE STUDY OF SOUTHERN    PENINSULAR MALAYSIA AND LAGOS, NIGERIA

Olusegun E. Akinsiku and Reuben O.A. Iyagba

Department of Building, Faculty of Environmental Sciences,

University of Lagos, Akoka, Nigeria.

 Corresponding authors email:oakinsiku@yahoo.com

Accepted 22 August 2014

This paper compares the performance of construction projects with respect to time and cost performance in Southern Peninsular Malaysia and Lagos, Nigeria. In an attempt to establish this, an empirical comparison of research conducted in both Southern Peninsular Malaysia and Lagos, Nigeria was made. Findings reveal that both Southern Malaysia and Lagos experience substantive cost and time overrun in the delivery of its construction projects. However, the pattern of the overrun vary, Southern Peninsular Malaysia experience mostly 10-15% of time overruns on its projects while the construction projects in Lagos mostly experience between 5-10% of time overrun. Both study area however experience cost overruns of between 5-10% of its initial budgeted cost. The study further identified important factors that can affect cost and time performance and thereafter provided measures to reduce the effects of time and cost performance. It is anticipated that the results presented in this paper will assist both construction clients, contractors and all project team members to deliver construction projects more successfully.

Keyword: Cost, Overruns, Performance, Time

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August: Vol. 2(2) pp.75-82

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Palgo Journal of Education Research

© Palgo Journals 2014