Towards a framework for development of operational and maintenance cost model of highway project in Malaysia
A major role of cost model is to ensure that the resource being handled is maintainable, functional and secure. The last decade has shown that attention to the idea of cost model added value to accomplish this management. In the context of cost model research and practice, the purpose of this paper...
| Main Authors: | , , , , |
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| Format: | Article |
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Lattice Science Publication
2020
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| _version_ | 1796864417104658432 |
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| author | Islam, Monirul Mohamed, Sarajul Fikri Mahmud, Syamsul Hendra Ahmed M., Alghamdi Khalid Saeed, Karban Abdullah |
| author_facet | Islam, Monirul Mohamed, Sarajul Fikri Mahmud, Syamsul Hendra Ahmed M., Alghamdi Khalid Saeed, Karban Abdullah |
| author_sort | Islam, Monirul |
| collection | ePrints |
| description | A major role of cost model is to ensure that the resource being handled is maintainable, functional and secure. The last decade has shown that attention to the idea of cost model added value to accomplish this management. In the context of cost model research and practice, the purpose of this paper is to identify, compare and describe the different cost models and investigate their value parameters. A systematic literature review of various publications has been followed in order to categorize the different theoretical models and to analyze the key quality parameters in the cost model. The established eight theoretical models were described in the sense of cost and the variant research projects and structures have taken into account very diverse parameters. In cost models, this analysis organizes 11-various quality parameters into four relevant headings: individuals, system and material, economy and social. Among all value parameters, cost reduction and customer satisfaction, followed by efficiency, are the most prioritized value parameters. This paper results provide a sound basis and realistic interpretation of future research to harmonize the definition of cost model added value as it is based solely on literature review. |
| first_indexed | 2024-03-05T20:41:33Z |
| format | Article |
| id | utm.eprints-87313 |
| institution | Universiti Teknologi Malaysia - ePrints |
| last_indexed | 2024-03-05T20:41:33Z |
| publishDate | 2020 |
| publisher | Lattice Science Publication |
| record_format | dspace |
| spelling | utm.eprints-873132020-10-31T12:29:42Z http://eprints.utm.my/87313/ Towards a framework for development of operational and maintenance cost model of highway project in Malaysia Islam, Monirul Mohamed, Sarajul Fikri Mahmud, Syamsul Hendra Ahmed M., Alghamdi Khalid Saeed, Karban Abdullah TH434-437 Quantity surveying A major role of cost model is to ensure that the resource being handled is maintainable, functional and secure. The last decade has shown that attention to the idea of cost model added value to accomplish this management. In the context of cost model research and practice, the purpose of this paper is to identify, compare and describe the different cost models and investigate their value parameters. A systematic literature review of various publications has been followed in order to categorize the different theoretical models and to analyze the key quality parameters in the cost model. The established eight theoretical models were described in the sense of cost and the variant research projects and structures have taken into account very diverse parameters. In cost models, this analysis organizes 11-various quality parameters into four relevant headings: individuals, system and material, economy and social. Among all value parameters, cost reduction and customer satisfaction, followed by efficiency, are the most prioritized value parameters. This paper results provide a sound basis and realistic interpretation of future research to harmonize the definition of cost model added value as it is based solely on literature review. Lattice Science Publication 2020-01 Article PeerReviewed Islam, Monirul and Mohamed, Sarajul Fikri and Mahmud, Syamsul Hendra and Ahmed M., Alghamdi Khalid and Saeed, Karban Abdullah (2020) Towards a framework for development of operational and maintenance cost model of highway project in Malaysia. International Journal of Management and Humanities (IJMH), 4 (5). pp. 89-95. ISSN 2394–0913 http://dx.doi.org/10.35940/ijmh.E0530.014520 DOI:10.35940/ijmh.E0530.014520 |
| spellingShingle | TH434-437 Quantity surveying Islam, Monirul Mohamed, Sarajul Fikri Mahmud, Syamsul Hendra Ahmed M., Alghamdi Khalid Saeed, Karban Abdullah Towards a framework for development of operational and maintenance cost model of highway project in Malaysia |
| title | Towards a framework for development of operational and maintenance cost model of highway project in Malaysia |
| title_full | Towards a framework for development of operational and maintenance cost model of highway project in Malaysia |
| title_fullStr | Towards a framework for development of operational and maintenance cost model of highway project in Malaysia |
| title_full_unstemmed | Towards a framework for development of operational and maintenance cost model of highway project in Malaysia |
| title_short | Towards a framework for development of operational and maintenance cost model of highway project in Malaysia |
| title_sort | towards a framework for development of operational and maintenance cost model of highway project in malaysia |
| topic | TH434-437 Quantity surveying |
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