Cost control practices in Vietnamese construction companies | |
| Author | Tran Trong Trieu |
| Call Number | AIT Thesis no.CM-04-01 |
| Subject(s) | Construction industry--Vietnam--Cost control Cost control |
| Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering, School of Civil Engineering |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ; no. CM-04-01 |
| Abstract | Many Vietnamese construction companies have no cost control system at all. However, due to the need for profit making, all the constructors exercise cost control practice in order to reduce actual costs. In an attempt to make suggestions for improving cost control practices in Vietnamese construction companies, this study aims to understand the current practice, to identify factors that are considered important by Vietnamese engineers, and to examine how these important factors are applied. The deficiencies of current practice are identified by comparison with theoretical cost control system. This study was structured into cost control framework and seven cost control functions, i.e. estimating, budgeting, monitoring, analyzing, reporting, corrective acting, and post-evaluating. A survey was carried out to collect necessary data. The respondents were thirty experienced project managers and project engineers from thirty Vietnamese construction companies. Current practices were explored by face-to-face interviews and related documents. The survey reveals that current cost control practices are far from systematized. The list of eighteen important factors was established and validated. Most of the factors were scored from 4.0 to 5.0 points that can be interpreted from very to extremely important. Meanwhile, the actual practices of all the factors are lower than their perceived importance levels. The current practices of factors were rated from 2.0 to 3.6 score. Recommendations for improvement focused on factors with serious practice deficiencies, i.e. Framework, Accurate Estimate, Cost Monitoring, and Cost Consciousness. |
| Year | 2004 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. CM-04-01 |
| Type | Thesis |
| School | School of Civil Engineering |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Construction Engineering and Infrastructure Management (CM) |
| Chairperson(s) | Chotchai Charoenngam; |
| Examination Committee(s) | Ogunlana, Stephen O.;Pichai Nimityongskul; |
| Scholarship Donor(s) | Ministry of Education and Training - Vietnam; |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2004 |