A QUANTITATIVE STUDY OF THE PERFORMANCE OF BUILDING CONTRACTS WITH SPECIAL REFERENCE TO SCHOOL PROJECTS IN SINGAPORE

Abstract

An investigation of performance of building contracts is always useful as it helps to compare the various parameters, such as variation in cost, time, completion time etc.. It is useful within the organization compared to outside organizations nationally as well as with similar organizations in other countries. After comparisons, remedial measures can be taken to improve the performance of future contracts and thus resulting in overall economy. In this study, the author has analysed the contract performance of Public Work Department's (PWD) completed school projects in relation to variations, time and cost effectiveness. The regression relationships of these factors have also been studied. The results have shown an encouraging trend on cost performance characteristic. The analysis has indicated that the final project cost was on an overall 3.33% less than the original contract sum. However the time performance was unsatisfactory as only 22.7% of the projects were completed within the contract stipulated time. The regression relationships established in this study can be used as a guide to establish a better indication of the preliminary contract period and evaluate more realistic cost estimate for future PWD's school projects.