BUILDING AN INCENTIVE COST MODEL AND APPLYING THE MODEL TO A HOMEBUILDING PROJECT
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Authors
Sultanzai, Ali
Kim, Dongha
You, Hai
Issue Date
2015
Type
Thesis
Language
en
Keywords
Alternative Title
Abstract
The purpose of this research is to save cost, improve schedule, and reduce risk in homebuilding industry by applying an incentive cost model. The researchers first conducted various researches in incentives application and homebuilding construction business. Then an incentive cost model was built by the researchers. The model consists of 3 major evaluating function, namely direct saving, cost of capital saving, and avoiding late penalty saving. A risk-reducing method is also included in the model. The model was then applied to 4 homebuilding projects to test its performance. Based on the data of these projects, a statistical analysis was conducted. The result showed that by applying the incentive cost model to projects, project schedule is improved while project cost and project risk are reduced. It is recommended for future researchers to improve the incentive cost model and apply the model to projects in different fields.