Digital Management of Construction Costs
- 1st Edition - January 23, 2025
- Authors: Clinton Aigbavboa, Ernest Kissi
- Language: English
- Paperback ISBN:9 7 8 - 0 - 4 4 3 - 2 3 7 1 5 - 7
- eBook ISBN:9 7 8 - 0 - 4 4 3 - 2 3 7 6 2 - 1
Today, software applications make cost estimation and management easier than ever before, but the role played by a construction professional who undertakes financial control and… Read more
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Request a sales quoteToday, software applications make cost estimation and management easier than ever before, but the role played by a construction professional who undertakes financial control and performance of a project remains as crucial as ever. Digital Management of Construction Costs provides readers with a route to understand how technology is dynamically transforming the construction sector and informs them of digital-first practices that can lead to more accurate forecasting and budgeting during the planning process, benchmarking, and monitoring throughout the expected delivery timeline. Theoretical principles and methodological techniques are accompanied by applied investigations of cases where improved efficiencies brought about by the uptake of novel solutions have led to successful bids or project completion. Added value is also provided by findings of the literature review, a framework conceptualized within the context of digitalization, and a discussion on future directions and implications.
Written by experts in academia who aim to foster further subject matter research by compiling a useful reference resource, this book proves to be beneficial to both early-career practitioners and professionals in a more advanced stage of their career who wish to keep abreast of the most recent developments in their field.
Written by experts in academia who aim to foster further subject matter research by compiling a useful reference resource, this book proves to be beneficial to both early-career practitioners and professionals in a more advanced stage of their career who wish to keep abreast of the most recent developments in their field.
- Includes the latest academic theories and research as well as accounts of present industry activity in different geographies.
- Bridges a gap between traditional approaches and emerging digital trends to enhance a project’s performance, never discounting quality and safety of the work.
- Focuses on business intelligence tools which enable multiobjective optimization for both decision making and delivery processes.
Academics and researchers, postgraduate students in (digital) construction/built environment engineering and management, civil and structural engineering, innovation in quantity surveying, project operations research
- Title of Book
- Cover image
- Title page
- Table of Contents
- Copyright
- Dedication
- Foreword
- Preface
- Acknowledgments
- 1. General introduction
- Abstract
- 1.1 Introduction
- 1.2 Objectives of the book
- 1.3 Contribution and value of the book
- 1.4 Conclusion
- 2. Understanding construction project cost management
- Abstract
- 2.1 Introduction
- 2.2 Concept of construction project cost management
- 2.3 Basic terminologies of construction cost management
- 2.4 Construction project cost management practices
- 2.5 Challenges of project cost management practices
- 2.6 Importance of construction project cost management
- 2.7 Chapter review/summary
- References
- 3. Understanding digital construction management
- Abstract
- 3.1 Introduction
- 3.2 The need for digital construction management
- 3.3 Challenges in implementing digital construction management
- 3.4 Best practices for digital construction management
- 3.5 Data-driven decision-making in construction management
- References
- 4. Digital construction project cost management
- Abstract
- 4.1 Construction project cost management in digitalization
- 4.2 Overview of the emergence of construction cost management
- 4.3 Construction cost management 1.0
- 4.4 Construction cost management 2.0
- 4.5 Construction cost management 3.0
- 4.6 Construction cost management 4.0
- 4.7 Methods and tools for construction project cost management
- 4.8 Methods
- 4.9 Tools
- 4.10 The nexus of construction project cost management and digitalization
- 4.11 Use of building information modeling
- 4.12 Use of real-time monitoring and control systems
- 4.13 Opportunities for automation and streamlining of processes
- 4.14 Chapter review/summary
- References
- 5. Emerging tools for construction project cost management
- Abstract
- 5.1 Introduction
- 5.2 Emerging tools for cost management
- 5.3 Prospective benefits of emerging tools in the project cost management in digitalization
- 5.4 Conclusion
- References
- 6. Digitalization and cost dynamics of construction projects
- Abstract
- 6.1 Introduction
- 6.2 Cost dynamics in industrial digitalization
- 6.3 Cost dynamics in the construction industry
- 6.4 Impacts of digitalization on construction cost dynamics
- 6.5 Conclusion
- References
- 7. Cost data
- Abstract
- 7.1 Introduction
- 7.2 Cost data in the construction industry
- 7.3 Cost data sources
- 7.4 Why cost data in the digitalization of construction
- 7.5 Type of cost data in the construction industry
- 7.6 Cost data application in the digitalization of construction
- 7.7 Implications of cost data application in the digitalization of construction
- 7.8 Cost data in the construction process
- 7.9 Chapter summary
- References
- 8. Digital construction project cost management—practical steps
- Abstract
- 8.1 Introduction
- 8.2 The need for BIM in construction project cost management
- 8.3 Forecasting construction costs using artificial neural network
- References
- 9. Digital construction project cost management—an Industry 4.0 framework
- Abstract
- 9.1 Introduction
- 9.2 Identification of critical parameters for industrial digitalization practices
- 9.3 Conceptualizing digitalization in construction project cost management
- 9.4 Development of the framework
- 9.5 Chapter summary
- References
- 10. Conclusion
- Abstract
- 10.1 Introduction
- 10.2 Future direction of construction cost management in the Industry 4.0, 5.0, and digital twin eras
- 10.3 Possible future challenges and benefits of emerging tools for project cost management
- 10.4 Conclusion
- References
- Glossary
- Index
- No. of pages: 200
- Language: English
- Edition: 1
- Published: January 23, 2025
- Imprint: Woodhead Publishing
- Paperback ISBN: 9780443237157
- eBook ISBN: 9780443237621
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Clinton Aigbavboa
Clinton Aigbavboa is a Professor of Sustainable Human Development and also the Director of the CIDB Centre of Excellence and Sustainable Human Settlement and Construction Research at the University of Johannesburg, South Africa. He holds a PhD in Engineering Management and, before his academic career began, he was a quantity surveyor for infrastructural projects in Nigeria and South Africa. He has published extensively in the areas of housing, construction, and engineering management, as well as research methodology for construction students. He is currently the Editor of the Journal of Construction Project Management and Innovation (accredited by the Department of Higher Education and Training of South Africa) and has received national and international recognition in his field of research.
Affiliations and expertise
Full Professor, Department of Construction Management and Quantity Surveying, Faculty of Engineering and the Built Environment, University of Johannesburg, Johannesburg, Gauteng, South AfricaEK
Ernest Kissi
Ernest Kissi holds a Senior Lecturer position at the Dept. of Construction Technology and Management of Kwame Nkrumah University of Science and Technology, Ghana, and is also a Senior Research Associate at the Department of Construction Management & Quantity Surveying, University of Johannesburg, South Africa. While completing his post-doc fellowship at the University of Johannesburg, South Africa, he was a visiting scholar in Germany funded by DAAD. His research interests focus specifically on construction economics, project procurement and management, and technical education for sustainable development and social well-being. He is a member of the Ghana Institution of Surveyors (GhIS), Ghana Institution of Construction (GIOC), Institution of Incorporated Engineers (IIE), International Society for Development and Sustainability (MISDS), and an incorporated member of the Chartered Institute of Builders (ICIOB). He is also a practicing quantity surveyor who has been involved in a number of construction projects all over Ghana.
Affiliations and expertise
Senior Lecturer at Dept. of Construction Technology and Management, College of Art and Built Environment, Kwame Nkrumah University of Science and Technology, Kumasi, Ghana; Senior Research Associate at Dept. of Construction Management and Quantity Surveying, Faculty of Engineering & the Built Environment, University of Johannesburg, Johannesburg, Gauteng, South Africa