An investigation on the cost control techniques used during procurement of construction works
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This research project was aimed at the investigation of cost control techniques used during the procurement of construction works. The primary objective was to investigate cost control techniques used during procurement of construction works to examine the effectiveness and implementation of various cost control methods in construction projects. The research methodology includes a comprehensive literature review, data collection through surveys and interviews using questionnaires and open-ended interviews with various construction professionals, and data analysis using statistical tools. The findings of the research indicate that several cost control techniques, such as Check Inventory Before Being Supplied, Educate and Train Staff About Cost Control in Procurement, Establish Clear Procurement Policies, Improve Risk Management During Procurement, Request Supplier Discounts are commonly employed in construction procurement. The study revealed that effective cost control measures can lead to improved project outcomes, including reduced project costs, enhanced project quality, and timely completion. However, it was also observed that challenges affect the implementation and integration of these techniques into procurement processes, including inadequate project planning, limited stakeholder collaboration, and insufficient awareness of cost control practices. Based on the research findings, it is recommended that project stakeholders, including clients, contractors, and consultants, should prioritize the adoption of proactive cost control strategies from the early stages of procurement. This involves comprehensive project planning, utilization of appropriate cost control tools and techniques, and fostering effective communication and collaboration among project participants. The research emphasizes the importance of continuous monitoring and evaluation of cost control measures throughout the project lifecycle to ensure their successful implementation and maximize project value. Therefore, this research project sheds light on the significance of cost control techniques during the procurement of construction works. It highlights the need for improved awareness, knowledge, and implementation of cost control practices in order to achieve successful project outcomes. The findings provide valuable insights for industry professionals, policymakers, and researchers, contributing to the advancement of cost management in construction projects.