COST REDUCTION OF CONSTRUCTION PROJECTS IN NIGERIAN: KNOWLEDGE MANAGEMENT AS AN ANTIDOTE

KASIMU M.A

Department of Quantity Surveying,

Federal Polytechnic, Bida. Niger State

E-mail: kasimumohammed@yahoo.com

ABSTRACT

 Construction projects cost is one of main key parameter that is used in assessing the performance and success of any projects. Nigeria construction industry are facing the challenges of high cost of construction projects as a result of poor planning and management, dispute, claim, fluctuation, cash flow problems, variation etc. Many efforts have been made by the Quantity Surveyors Registration Board of Nigerian (QSRBN) to overcome these challenges in different approaches and strategies. This paper aim at contribute to the yearning of QSRBN to overcome these challenges of project cost reduction through KM practice. The paper outline the significance benefits of KM practice in the construction projects and suggest five possible methods of reducing construction projects cost through KM practice. These are knowledge sharing and re-using, use of information technology, retained of the specialists in the construction organisations; seeking for knowledge from external source; mentoring and coaching of the employees. Therefore, the paper suggest that the management of the construction organisations should encourage the practice of KM during the courses of the construction projects in order to enhance the organisational performance in terms of cost, time and quality.