The assessment and agreement of a final account in construction projects can be a difficult and time-consuming process to negotiate. Any delay of final account settlement can have an adverse impact on the cash flow of contractual parties such as contractors. A questionnaire survey was used to collect the perspective of experienced quantity surveyors’on the key factors influencing the settlement of a final account. Ranking and factor analysis were applied to determine the most significant factors in influencing the settlement of a final account. The results revealed that ‘time’ and ‘variation’ (i.e. change orders) were the most significant factors.
|Title of host publication||Proceedings of the RICS COBRA Conference (online)|
|Publisher||Royal Institute of Chartered Surveyors (RICS)|
|Number of pages||7|
|Publication status||Published - 2013|
|Event||Royal Institution of Chartered Surveyors, COBRA 2013 - New Delhi, New Delhi, India|
Duration: 10 Sep 2013 → 12 Sep 2013
|Conference||Royal Institution of Chartered Surveyors, COBRA 2013|
|Abbreviated title||RICS COBRA 2013|
|Period||10/09/13 → 12/09/13|
Sing, C. P., Love, P. E. D., Smith, J., & Tam, C-M. (2013). Factors influencing final account settlement in construction projects. In C. Eriksson (Ed.), Proceedings of the RICS COBRA Conference (online) (pp. 1-7). Royal Institute of Chartered Surveyors (RICS).