Factors influencing final account settlement in construction projects

Chun Pong Sing, Peter E D Love, Jim Smith, Chi-Ming Tam

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

Abstract

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.
Original languageEnglish
Title of host publicationProceedings of the RICS COBRA Conference (online)
EditorsC Eriksson
PublisherRoyal Institute of Chartered Surveyors (RICS)
Pages1-7
Number of pages7
Publication statusPublished - 2013
EventRoyal Institution of Chartered Surveyors, COBRA 2013 - New Delhi, New Delhi, India
Duration: 10 Sep 201312 Sep 2013

Conference

ConferenceRoyal Institution of Chartered Surveyors, COBRA 2013
Abbreviated titleRICS COBRA 2013
CountryIndia
CityNew Delhi
Period10/09/1312/09/13

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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).