Factors Influencing the Construction Cost Control System in a Construction Company

Abstract

This study aimed to determine the level of factors influencing the construction cost control system in a construction company during the calendar year 2024. The study variables are age, highest educational attainment, position, and service years. In contrast, the areas of the study are project planning and design, risk management, procurement and contracting, project monitoring and control, and communication and collaboration.  According to the study, most respondents are older but fall into a lower category for maximum educational attainment. Regarding years of service, most respondents fall into the more extended category, whereas most fall into the higher category regarding the position variable. The study suggests several important implications for the organization's construction processes and project management practices. It first highlights how crucial it is to incorporate state-of-the-art technology into the project design and planning phases to enhance project efficiency. The report also emphasizes how important it is to categorize and prioritize various risk management components to control construction sector expenses successfully. The results also demonstrate the importance of considering supplier reputation and dependability when entering into contracts and making purchases. The paper also suggests employing advanced project management software to facilitate the monitoring and management of construction projects. In summary, the findings underscore the necessity for improved collaboration between project teams and stakeholders to establish an effective construction cost control system. Based on the study's results, the researcher concluded that age, years of service, and highest educational attainment do not affect the construction cost control system, according to the area of project planning and design and project monitoring and control. On the other hand, position is a variable that affects the construction cost management system according to the areas of project planning and design and project monitoring and control. That age, the highest level of education attained, position, and years of service do not affect the construction cost control system, according to risk management, procurement, contracting, communication, collaboration, and other variables.