الملخص الإنجليزي
The following is a study of the cost estimation practices prevalent in the construction sector of Oman. The objective of the study is three fold; to provide a literature review of cost estimate practices used worldwide; identify and compare practices prevalent in the Sultanate of Oman and; link results of analysis to the final cost estimate and ending status of a project.
A number of papers and publications reflecting current practices used in the construction sector worldwide were reviewed. It was concluded that standard practices ranged from using methodologies such as the unit rate method, the use of historical data and benchmarking. The adoption of computer aided methodologies suggested that a more accurate estimate could be arrived upon.
By identifying practices used worldwide and comparing them to those used in Oman, we serve to provide a guide to producing a highly accurate cost estimate. In doing so, we also enhance our understanding of the risk factors anticipated in arriving at an accurate cost estimate. By reviewing the methodologies used, future studies can be developed with an aim to enhance or improve existing techniques.
