Project cost management for building construction : a case study of Lanmadaw 1st street project | |
| Author | Khin Phyoe Khaing |
| Call Number | AIT Proj. no.MPM-MM-CM-19-09 |
| Subject(s) | Project management--Cost control Project management--Case studies Building--Construction--Myanmar |
| Note | A project submitted in partial fulfillment of the requirements for the degree of Master of Engineering (Professional) in Construction Engineering and Infrastructure Management |
| Publisher | Asian Institute of Technology |
| Abstract | In building businesses, construction of a new building of an Anawratha road plays an important role for my company, which is very essential for the development in economy in many developing countries like Myanmar because building the construction is the major sectors of standardization in Yangon. To stand as a contractor in the field of construction, cost control plan is very essential. However, so many complications are faced with to manage the quantity of materials, construction methods, environmental impact and quality of manpower. Typically, ultimate estimation on cost is described in a form of Myanmar Kyats and then the contract is activated with the lump sum for this project. In my study, I have presented finding facts from a case study about the finishing Lanmadaw 1st street hotel Scheme constructed by Shwe Taung Company. This paper tends to discover how cost planning and management process should be created during the period of construction. At first, hurdles or dilemmas are presented during the period of controlling the Cost Plan. The findings concerning with the site’s cost are then collected and analyzed, such as the conditions, criteria & processes. The most suitable conditions in order to come up with the needs of Cost Management Method which includes labours, applied materials, machines, project location and project area will be discussed. As with the Cost Control Plan for this site, the constructing period of the building determined by Project’s Owner is 16 months. The cost of the project overrun or underrun is considered as the discrepancy between actual cost of a project and its cost limit. To protect increasing manpower effect in the project area, winch is used for the material lifting and carrying, and to control from the volume of actual materials higher than estimate, quantity objectives form is used to measure actual using and estimated material. To prevent project’s profit losses in this project area, cash flow and progress are checked monthly by the help of finance. Finally, Cost management is regarded as a managerial process, which can create data to help support decision-making, and to arouse cost reduction, value development and continuous development in the organization. |
| Year | 2019 |
| Type | Project |
| School | School of Engineering and Technology (SET) |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Construction Engineering and Infrastructure Manangement in Myanmar (Professional Master) (MPM-MM-CM) |
| Chairperson(s) | Chotchai Charoenngam; |
| Examination Committee(s) | Hadikusumo, Bonaventura H.W.;Wasan Teerajetkul; |
| Scholarship Donor(s) | Shwe Taung Development Co., Ltd.; |
| Degree | Project (M. Eng.) - Asian Institute of Technology, 2019 |