Some challenges in the consultation and management of construction investment costs

Abstract

Quality and total cost are always the top concerns in construction work. Construction investment costs need to be accurately and sufficiently calculated for each project, structure, and tender package, in line with design requirements, construction conditions, and market price levels. Currently, the government has issued relatively clear and detailed regulations and guidelines for cost estimation and management. However, there are still practical limitations and difficulties during the implementation process. These include challenges in determining project management costs and construction investment advisory costs based on fixed ratios, slow disclosure of local material prices that are not aligned with actual conditions, and incomplete construction budget estimations. Based on our practical experience in consulting and managing construction investment costs, we would like to share some of the challenges in this field. Our aim is to contribute opinions and suggestions to enhance the quality and promptness of the government's regulations and guidelines for fundamental construction, ensuring they meet the evolving development requirements of society.