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COST IMPACTS OF VARIATIONS ON BUILDING CONSTRUCTION PROJECTS
Abstract
Variation is the almost inevitable situation in construction projects. It is common in all types of construction projects and plays an important role in determining the closing cost and time of projects. The purpose of the paper seeks to establish the types of variations which normally occur on building projects and the impact of such variations. The study covered all projects initiated from the year 2000 and completed by 2014. Data was collected from contract documents, files and payment certificates, using tailored data collection table. The research approach was purely quantitative and the study population was three hundred and forty eight (348), representing project files. Findings show that the cost of multiple variations was higher than single variations and the projects with multiple variations had high percentage variation. Contract sum was significantly and positively correlated to duration of project and cost of variation. Further findings show that the duration of project was significantly and positively correlated to cost of variation and percentage variation, but cost of variation was insignificantly and negatively correlated to percentage variation. The regression model one reveals that 96.8% of the variation in cost of variation was explained by contract sum, duration of project, type of variation and number of types of variation
Keywords: cost impact, construction projects, variations, Nigeria