|Title:||Analysis of variations and its possible applications/implications for Hong Kong construction projects|
|Subject:||Construction contracts -- China -- Hong Kong|
Hong Kong Polytechnic University -- Dissertations
Department of Building and Real Estate
|Pages:||viii, 86,  leaves : ill. ; 30 cm|
|Abstract:||When we talk about Variations, many people will only focus on the contractual obligations and limitations of Architect in issuing instructions. Traditionally, many big QS firms in Hong Kong would prepare cost analysis for past projects as records and would use these analysis for estimating purpose but they seldom analyze the distribution of variations. This research paper carried out similar study as Choy and Sidwell did in Australia in 1991. It is found that the amount of variations is proportional to the size of projects and the average percentage of variations in a project is 13%. However, different types of project have different norms of variations. The result can be used in the cost control process. When the work packages are tendered, the residual contingency can be compared with the norm to see whether there is enough money to complete the project. Conversely, it can be used to estimate the final contract sums. The analysis on the distribution of variations derives the norms for different packages and can be used to increase the accuracy of the said calculations. It is also found that the about 75% of the variations in Hong Kong projects is originated from consultant and only 25% is originated from Client or due to unforeseen condition. That implies most of the variations are more predictable and controllable from the perspective of Risk Management. Therefore, the variation risks can be better managed by strengthening the control measures on the consultants. It is noticed that the Scope Change in a Contract is only 3-4% of the Contract Sum on average. It is therefore prudent to include it in the Guaranteed Maximum Price so that the prime advantage of GMP is not vitiated.|
|Rights:||All rights reserved|
Files in This Item:
|b15593502.pdf||For All Users (off-campus access for PolyU Staff & Students only)||3.38 MB||Adobe PDF||View/Open|
As a bona fide Library user, I declare that:
- I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
- I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
- I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.
By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.
Please use this identifier to cite or link to this item: