| Author | Nguyen Dang Thong Nhat |
| Call Number | AIT Proj no.CM-08-03 |
| Subject(s) | Construction industries--Cost control
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| Note | A project report submitted in partial fulfillment of the requirements for the degree of professional Master of Project Management |
| Publisher | Asian Institute of Technology |
| Abstract | Nowadays, the construction industry plays a vital role in the healthy growth of the economy of many countries, both the developed and developing ones. Construction cost control did not use to be a major concern as developers rushed to capitalize on the booming market, as was what happened in Vietnam in Year 2006, 2007 and the beginning of 2008. However, in late 2008, the economy of the world and Southeast Asia sank into recession. Project cost control became a critical issue for the developers as well as the construction companies in managing construction projects. A significant number of projects in the world had significant cost overruns as the price of material was spiraling with no signs of abating in the near future. Cost overruns had been a problem during this period and the use of good project cost control procedures has become a concern of project investors and construction companies in the current world since the recession of the late 2008. Project managers and developers are now aware that the failure of a cost control system or use of a poor system can lead to project failure. Project cost control methods need to be improved to ensure that owners and contractors manage construction costs and meet project goals on time and within budget. Effective management of construction projects has been a major research subject due to the importance of the construction industry and the amount of investment it attracts. A significant issue facing construction managers is that of inefficient cost control procedures, particularly in developing regions of the world, such as Vietnam. The cost control system is the most important function that facilitates construction organizations in accomplishing profit maximization. In this study, project cost controls will be examined. These procedures will be researched and it will be illustrated how the project cost control procedures can be. applied to the construction industry in Vietnam to increase the awareness of contractors, consultants and client of the functions of cost control in the execution of construction projects |
| Year | 2008 |
| Type | Project |
| School | School of Engineering and Technology (SET) |
| Department | Department of Civil and Infrastucture Engineering (DCIE) |
| Academic Program/FoS | Construction Engineering and Infrastructure Management (CM) |
| Chairperson(s) | Hadikusumo, B.H.W.; |
| Examination Committee(s) | Chotchai Charoenngam; |
| Degree | Project (M.Eng.) - Asian Institute of Technology, 2008 |