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Cost Optimization of Construction Projects by Using Advance Methods and Advanced Materials

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Cost Optimization of Construction Projects by Using Advance Methods and Advanced Materials


Prof. Yogita Fulse | Aniket R. Zolekar



Prof. Yogita Fulse | Aniket R. Zolekar "Cost Optimization of Construction Projects by Using Advance Methods and Advanced Materials" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6, October 2021, pp.1671-1683, URL: https://www.ijtsrd.com/papers/ijtsrd46322.pdf

Construction industry could be considered as a very important sector for development all over the World and the construction cost is the most important element in it. The construction project can vary from extremely profitable to barely worth it and sometimes end up costing the contractor more than what he or she is getting paid to complete it. In construction industry the aim of project control is to ensure the projects finish on time, within budget and achieving other project activities. Time and cost are two main concerns which increase importance of cost reduction techniques. Reduction of cost of construction is a constant goal for construction industry. One way of reducing construction cost is to develop innovative technologies as well as methodologies to increase productivity. This study was carried out to identify the factors affecting construction cost. The factors were identified based on case studies and market surveys. In this paper, we have studied different techniques for optimization. To minimize the construction cost and duration at each phase is important. It is a need to meet the present day requirements and to complete the project within the estimated time, cost, and available resources. Mainly affecting the factor on cost of project is delay in project and material. Several methods have been developed and applied to analyze the time-cost problems, but they can optimize only one parameter. Various low cost material also suggested for optimizing the cost of project along with maintaining the quality and strength of the project. Also various mathematical method and software based models studied for optimization. This study centers on assessing the cost of construction project and compare the construction cost with the optimized cost of the same building by using advance construction techniques and materials. Outcomes of cost study suggest that the construction cost of residential building project is reduced by 20-30%, 10-20% in infrastructural projects and 25-35% in industrial projects than the construction cost.

Construction, Cost Reduction, Value Engineering, Cost, Value, Project, Cost Optimization Techniques, Cost Reduction Techniques, Advance methods, Advance Material, Material Management, etc


IJTSRD46322
Volume-5 | Issue-6, October 2021
1671-1683
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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