Thesis (M.Eng.) - Asian Institute of Technology, 1977

A thesis submitted in partial fulfilment of the requirements for the degree of Master of Engineering of the Asian Institute of Technology, Bangkok, Thailand.

This study has been made t o formulate a simple and practical method of pricing construction projects, applicable in any developing region with especial reference to Asian countries. The availability of historical price data in the construction organizations and from published sources has been investigated. The extent to which the construction organizations can make use of the available data has also been examined. The following major constraints in pricing construction projects have been considered. 1. Accuracy in pricing. 2. Cost involved in pricing. 3. Time required for pricing. 4.Available methods of pricing. 5. Availability and utility of price data, The study is based on the actual project data collected f rom construction organizations, information gathered from relevant publications and reference books. In formulating the method of pricing, solution has been sought to the problem of maximizing the accuracy of the price and at the same time minimizing the estimating time and cost and keeping in view the physical constraint of little or non availability of usable historical data, The study is made to formulate a method of classification of the items of work into the major and the minor categories in respect of level of detail in pricing. The application of forecasting methods in calculating the prices of the items of work with the available limited cost data has al so been studied. Pricing a project with no local historical cost data by use of location factor has also been covered in this report.