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Construction of Time - Cost Model for Building Projects in Vietnam  

Long, Le-Hoai (Pukyong National University, Interdisciplinary program of construction engineering and management)
Lee, Young-Dai (Dept. of Civil Engineering, Pukyong Nat. Univ.)
Cho, Jeong-Wook (Pukyong National University, Interdisciplinary program of construction engineering and management)
Publication Information
Korean Journal of Construction Engineering and Management / v.10, no.3, 2009 , pp. 130-138 More about this Journal
Abstract
Bromilow's time-cost (BTC) relationship was examined for building projects in Vietnam using actual construction time and total construction cost. Data set was collected from 77 historical building construction projects completed between 1999 and 2005 which were adjusted by consumer price index (CPI) to 2000 price. Time-cost equations were specified respected to two sectors, public and private, in Vietnamese construction industry and all cases. It is shown that a public funded building project has the longer construction duration than a similar budget private funded project. The resulting models are statistically significant. The adjusted R-square coefficients of all cases, public and private projects models are respectively 0.403, 0.436 and 0.377 mean that the BTC regression lines moderately fit the data set.
Keywords
Bromilow's model; building project; time-cost relationship; Vietnam;
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