Watton, J, Unterhitzenberger, C orcid.org/0000-0001-5815-9127, Locatelli, G et al. (1 more author) (Cover date: November 2023) The Cost Drivers of Infrastructure Projects: Definition, Classification, and Conceptualization. Journal of Construction Engineering and Management, 149 (11). 03123006. ISSN 0733-9364
Abstract
Reducing cost is a critical objective for project teams. However, unlike the research on topics such as cost overruns, cost reduction literature is limited. Previous studies have primarily examined cost estimation and reduction models or high-level cost reduction strategies. Therefore, it is necessary to identify specific actions that project teams can take to reduce cost. By focusing on the “cost drivers” of infrastructure projects, researchers have a practically relevant lens through which cost reduction can be promoted and studied. Thus, this integrative literature review establishes a foundation for infrastructure project cost drivers knowledge, addressing three research questions revolving around deriving a definition, classification scheme, and conceptual framework of cost drivers. This paper first produces a definition of cost drivers by critically analyzing cost driver concepts and perspectives and existing definitions. Second, cost drivers were drawn from relevant articles and classified to produce a taxonomy of 14 key cost drivers. Third, a conceptual framework (two-by-two matrix) of cost driver types was developed to acknowledge the influence project teams can have. Finally, a research agenda proposes further investigation in cost drivers and reduction research regarding each cost driver, apt research methods, and necessary project contexts. This paper’s theoretical contribution is a deepening of infrastructure project cost drivers knowledge using a definition, taxonomy, and conceptual framework. The practical contribution is a deepened awareness of the key opportunities for—and threats to—cost reduction for project teams, as well as knowledge of those cost drivers that they actually have an influence over, that is, to reduce their project’s cost.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2023 American Society of Civil Engineers. This is an author produced version of an article published in Journal of Construction Engineering and Management. Uploaded in accordance with the publisher's self-archiving policy. |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Engineering & Physical Sciences (Leeds) > School of Civil Engineering (Leeds) |
Funding Information: | Funder Grant number National Nuclear Laboratory Limited Not Known |
Depositing User: | Symplectic Publications |
Date Deposited: | 23 May 2023 14:20 |
Last Modified: | 21 Sep 2023 12:58 |
Status: | Published |
Publisher: | American Society of Civil Engineers |
Identification Number: | 10.1061/JCEMD4.COENG-13411 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:199122 |