The accuracy of preliminary cost estimates in Public Works Department (PWD) of Peninsular Malaysia |
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Authors: | Mohd Azrai Azman Zulkiflee Abdul-Samad Suraya Ismail |
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Affiliation: | 1. Department of Quantity Surveying, Faculty of Architecture, Planning and Surveying, Universiti Teknologi MARA (UiTM), Kota Samarahan Campus, Jalan Meranek, 94300 Kota Samarahan, Sarawak, Malaysia;2. Department of Quantity Surveying, Faculty of Built Environment, University of Malaya, 50603 Kuala Lumpur, Malaysia |
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Abstract: | This paper presents the accuracy of preliminary cost estimates prepared by Public Works Department (PWD), which is the largest public construction management in Malaysia. It attempts to understand the Quantity Surveyors' (QS) estimation accuracy in relation to public projects. This study analyses 83 projects of estimates and tender bids. The analysis includes three (3) estimating targets i.e. lowest bid, accepted bid and mean of the bids. To broaden the study, 344 QS involved in the procurement answered the questionnaires. Linear multiple regression analysis on project characteristics shows that project size, number of bidders, location and type of schools affect the bias. Contract period affects the consistency. The use of mean of the bids is the best-fit target to explain the bias in terms of adjusted R2. The accuracy may improve if sufficient design information is available, proper cost planning and improving the application of historical cost data. As an alternative, the phenomenon of overestimation is resulted from government directive instruction, which could challenge the rational of accurate estimate. |
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Keywords: | ANOVA analysis of variance CV coefficient of variation GFA gross floor area LMR linear multiple regression analysis m2 meter square unit of area in the International System of Units (SI) MOF Ministry of Finance PDA preliminary detailed abstract PI price intensity theory PWD Public Works Department QS quantity surveyor or quantity surveyors RM Malaysian Ringgit currency of Malaysia η2 partial eta-squared N9 Negeri Sembilan (state in Malaysia) |
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