Developing a basket of resources as a tool for collecting construction cost data internationally

Rick Best*

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionResearchpeer-review

Abstract

Comparing construction costs between countries, even when the countries share a common currency, is recognised as a difficult problem. Construction cost data has been included in the World Bank's International Comparison Program for many years and that data has been collected using a variety of methods. Currently several different methods are in use within the ICP and these include several types of baskets of inputs of various types and combinations. These methods have been constantly under review and as part of the latest review a new approach is being developed based around a basket of resources (BoR). The new basket has been developed based on analysis of pricing instruments used in a number of earlier studies and several ongoing pricing exercises conducted regularly by commercial concerns such as large international quantity surveying organisations. The materials/components section of the new BoR, its development and some early observations of its use in practice are presented. Further development and refinement of the basket is outlined.

Conference

ConferenceAnnual Conference of the Association of Researchers in Construction Management
Abbreviated titleARCOM 2011
CountryUnited Kingdom
CityBristol
Period5/09/117/09/11
Internet address

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Cite this

Best, R. (2011). Developing a basket of resources as a tool for collecting construction cost data internationally. In C. Egbu, & E. C. W. Lou (Eds.), Proceedings of the 27th Annual ARCOM Conference (Vol. 1, pp. 75-84). United Kingdom: Association of Researchers in Construction Management.