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Construction Planning & Management
Planning for construction cost escalations..
Tags :
construction cost, prices, inflation, cost escalation,
Industry :
Construction, Steel, Cement
Functional Area : Infrastructure |
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About "Planning for construction cost escalations.." topic:
Construction
costs are rising. At times materials are in short supply. Projects are
seemingly always under-funded. Cement and steel prices are rising and
owners are dealing with cost escalation issues that seem poised to only
get worse. And in recent news we have heard that there is new service
tax on construction which will even make matters worse.
So, how to
handle these construction cost escalations or How will you plan for
construction cost escalation? Share your views on this.
4 debates
, 4 idea contests
, 1 question
on topic: "Planning for construction cost escalations.."
Prev1NextShowing 1 - 9 of 9
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(rate this)
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1
Proper financial planning
2
Construction Materials
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Prashanth Shetygere Kempanna
| Supported idea
"Use optimum fund availabe"
| 2 months ago
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Advance procurement will only result in unwanted inventory, which in turn is bad investment- need meticulous working not just Jnan
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Y S Lam
| Supported idea
"Construction Materials"
| 1 year ago
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since steel is one of the main factor optimising the usage like ordering cut to size bar will minimise wastage. in case full length bar, bar schedule need to be carefully plan to minimise wastage.
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Srinivas S.Mantrala, PMP
| Supported idea
"Proper financial planning"
| 2 years ago
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Bottom up estimating always gives more information and it is possible to take good decisions on the cost aspects on the material those actually consume.But for preparing the these estimates consume lot of time and expenses the construction firms...
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Ideate: " How to plan for construction cost escalations??" deleted from your view.
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(rate this)
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1
Involve your contractor early in the process.
2
Pick a contractor with strong preconstruction services.
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Mukhtar Ahmed Shaikh
| Added idea
"6 . Freeeze all your plans & requirements"
| 2 years ago
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Plan good. Freeze all your requirements and budget within time frame. Avoid un necessary changes.
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Mohammad Bakhsh
| Added idea
"Sound decision making"
| 2 years ago
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The prices will increase.No project or proposal can be shelved because of spiraling prices.The best option is to roll out the project and make it that decision making cell is stronger.This is the only Grey area where the owners must pay attention...
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Ideate: "What should owners do to put themselves in the best position for a smooth project? " deleted from your view.
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(rate this)
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Yes
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11
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VS |
8
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No
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Deepak k
| Argues in support of
"Yes"
| 1 year ago
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yes...this will consumes more time, technologies and risk.These criteria s are obviously directly proportional to cost.
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Binoy Sinha
| Argues in support of
"No"
| 2 years ago
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We have always taken it for granted that the Project Cost will escalate. It is not so if estimation done with due consideration. Give more emphasis on Pre-construction activities. Must be done meticulously. Cost estimate only on financial...
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anup kumar pathak
| Argues in support of
"Yes"
| 2 years ago
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Since Time is money and a project cost will go up every year at an average 10% on basic prices taxes the escalation is a happening in 100% since most of projects will fall in two / more financial years.
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Debate: "Do Bigger Projects Have Bigger Cost Escalations?" deleted from your view.
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(rate this)
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1
Perform an Audit
2
(Actual Spent) + (ETC Qty x ETC Rate) + ETC Overheads within Revised Cost Baseline...!!!
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Mohammad Bakhsh
| Added idea
"Discounted cash flow method."
| 2 years ago
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All the ideas as suggested are part of project management but not the part of the strategy.The strategy means how profitable the capital investment should be ensured.The stake holders are not only concern about the investment but how it is being...
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Dilip Gopal Karnad
| Supported idea
"Cost Control"
| 2 years ago
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Today most projects use either Primavera or MS Projects for scheduling and tracking costs. Organisations have an urgent need to maintain a risk log as a knowledge bank along with their mitigation plans. Therefore planning engineers need to...
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Giridhara Y.N
| Supported idea
"Perform an Audit"
| 3 years ago
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For better result The same auditing can be done at regular intervals in the project period
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Ideate: "Strategies for Construction Cost Control " deleted from your view.
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(rate this)
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1
Avoid finanacial jargon
2
Improper Financial Analysis
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Satish Salpekar
| Added idea
"Lack of knowledge of Market Trends"
| 2 years ago
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Any person responsible for cost analysis of any project must be aware lots of information on market trends. One should be aware of trends in the total construction infrastructure industry. The infrstructure industry is in boom today and hence,...
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Mohammad Bakhsh
| Supported idea
"Avoid finanacial jargon"
| 2 years ago
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Please do not give alibi to the contractor and monitor the cash out flow v/s physical progress regularly.
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Ideate: "What are the causes for construction cost escalation?" deleted from your view.
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(rate this)
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Yes
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5
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VS |
2
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No
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Punit Gupta
| Argues in support of
"Yes"
| 11 months ago
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Precast and prestressed structures are now widely used in India, only care to be taken is proper supervision while casting and launching. It saves a lot of time and resources.
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ussain
| Argues in support of
"No"
| 2 years ago
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We Should also plan for mordern Techniques and high quality construction
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Avisek Roy
| Argues in support of
"Yes"
| 2 years ago
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Pre-stressed ones can be used, only when it is done in proper supervision. The process is a succes all over and it is provent to be usable. China constructs 90% of its heavy constructions with it. And beyond doubt, it is hugely cost effective,...
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Debate: "Precast/Prestress components in construction are we ready for it? How feasible is it?" deleted from your view.
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(rate this)
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Yes, there is a additional cost.
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1
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VS |
0
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No, escalation formula covers the costs
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sanjay kumar goyal
| Argues in support of
"Yes, there is a additional cost."
| 1 year ago
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The escacalation formula covers only general increases. There is a additionalcost towards overstaying at the projetc
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Debate: "Is there any additional cost incurred to the contractor if there is delay beyond his control. If there is, how to calculate." deleted from your view.
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(rate this)
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Support for all Mining Work
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1
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VS |
0
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We don't Know About
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Mahender Thakur
| Argues in support of
"Support for all Mining Work"
| 1 year ago
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We are carring out Excavation works in Cement Minings/Hydro Projects
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Debate: "The Shiva Earth Movers" deleted from your view.
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(rate this)
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Prices may not rise anymore.. But they won't go sown as well.. and this is hurting every industry. Be it food , be it construction.. What is your view.. Has inflation hurt construction industry as hi...
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Mohan Murari
| Answered
| 11 months ago
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It is similar to the manufacturing industry. while building something you require material labour, day to day essential items like food, fuel, consumer goods have become costly, therefore the material price or manufactured things have become...
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Eajaz Buzruk
| Answered
| 11 months ago
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inflation is the globle problem every country is facing today. specially in india due to inflation the needs of common man have reduced and its difficult to even think to invest in construction sector due to rise in prices.
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Answer: "Inflation is killing growth in construction industry ??" deleted from your view.
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