Development of a Time-Cost Model for Private Residential Building Projects in Port Harcourt, Nigeria
Property developers in Port Harcourt are often faced with the challenge of completing residential building projects within the scheduled times and costs due to factors that include weather, inadequate cash inflow, government policies, and inflation. About 41 private residential building projects completed between the years 2000 and 2018 were surveyed with the aid of questionnaires, and it was found that the highest cause of both delay and cost overrun was inadequate cash flow. A non-linear regression time-cost model was formulated based on the Bromilow’s Time-Cost (BTC) model and found that it takes 2289.2 working days to complete a private residential building project per million Australian Dollar. Predictions were made for construction durations (times) and construction costs with the derived model, which was found fit and adequate with an R2 value of 0.6137. This indicates that the BTC model is applicable to private residential building projects in Port Harcourt.