Cost reduction techniques on MEP projects

Abstract

For a construction project main objective is to complete the work on time and achieve the desired profit by giving the required quality to the customer. To complete the work on time, planning and scheduling have the key roles. Reducing the cost of project is done by a continuous process, the cost-dependent factors should be identified and various methods should be implemented to get the cost reduced. In this paper construction, cost reduction methods are analysed and the implementation of such methods in MEP (Mechanical electrical pluming) projects are discussed. Construction work and MEP work will be tedious and losses due to improper planning of project, early allocation of materials, unskilled labours and shortage, price fluctuation of materials, delay in supply of materials, rework and wastage of materials, wrong budgeting, weather deflections, unorganised management and control, coordination problems of service and civil works, etc. All these obstructions will result in delay of projects and cost overrun. Time and cost optimisation can be done by various techniques which is major for a project for its successful completion. This paper reviewed best cost optimisation methods and summarise the suitable method for Indian construction industry. This study mainly discussed on different techniques to reduce the cost in MEP projects and difficulty facing to implement this techniques and its betterment of execution. © Springer Nature Singapore Pte Ltd. 2019.