International Research Journal of Engineering and Technology (IRJET) Volume: 10 Issue: 06 | Jun 2023
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e-ISSN: 2395-0056 p-ISSN: 2395-0072
OPTIMIZATION OF PRODUCTION COST IN CONSTRUCTION PROJECT 1Shoaib Subhan Mulla, 2Ketan Ushir, 1M.Tech, Research Scholar in construction Engineering, Sandip University, nashik, 2Assistant professor, Sandip University, nashik.
------------------------------------------------------------------***---------------------------------------------------------------a bonus for finishing a project earlier than expected or Abstract: Cost optimisation should be done during
lowering administrative expenses. Therefore, it is strongly encouraged to maximise both time and money. It is not always ideal to choose the option with the lowest price (Lyubov, 2017).
construction to keep costs manageable. Construction is about time and money. Construction costs more and takes longer. The study optimises production costs for Eagle Infra India Ltd. in Maharashtra, India. The study will collect data from April 2018 until present. This study will rely heavily on field observations, in-depth interviews, focus group discussions, and questionnaires. The data was analysed by project, design, owner, consultant, contractor, materials, labour, equipment, and outside influences. The study's findings focused on construction cost optimisation and reducing time and expense overruns. Careful planning and control, a good monitoring and tracking system, a safe and organised work environment, daily work progress recording, timecost trade-offs, a plan-do-check-act quality policy, trained workers, and careful supervision are the best ways to reduce construction costs. The study suggests lean construction strategies (VSM, 5’S and Pareto analysis) for constructability and cost optimisation.
1.1. Objectives
Keywords:
Optimization, Construction, EIIL, Production cost, Cost minimization, Lean Construction Methodology.
To keep construction costs low and within the budget, “cost optimization” should be carried out at various stages of the building process. In the construction industry, time savings can lead to benefits like receiving
Impact Factor value: 8.226
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To provide proper storage area management and site infra setup by identifying the waste using 5’s as lean construction tool.
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To observe the problems after Deshuttering and determine the frequency of occurrence using Pareto analysis.
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To enhance the productivity and efficiency of the construction project using lean construction technique.
kumar, et al., (2015), According to his research studies, proper planning, and selection procurement of material, installation, operation, and maintenance and equipment replacement policy plays important role in construction management. Ramkrishna, et al., (2021), According to his analysis there is no proper execution and tracking of a work. Improper management of time, cost and manpower are the major factors that contributes to poor inventory control. Senthil, et al., (2017), According to his research the PERT/ CPM technique can bring a great contribution to the optimization of the cost and time of project of the horizontal laminator production process. It can lead to reduce the costs and even increase the amount of projects. Gunduz, et al., (2019), He examines to minimize the construction cost and duration at each phase is important. Mainly affecting the factors on cost of project is delay in project and materials. Ramkrishnan, et al., (2017), in his analysis when the bulk of the cost is decided in early stage of design, it is recommended to focus on cost in concept design stage itself. Strategic cost reduction aligned with development process and product strategies can reap huge benefits on cost.
Construction management is a prime example of the discipline of keeping expenditures under control, projects on schedule, and making the most use of resources. Unit pricing, lump sum payments, and cost plus pricing are the three pricing models that are frequently used in building contracts. Any construction project must carefully consider its budget (Akalya, 2018). You should also consider how long it will take to complete the project. The construction process has had some significant obstacles. The primary factor in determining a building's total cost is the cost of the materials. The Critical Path Method (CPM) and the Program Evaluation and Review Technique are examples of conventional project management techniques (Bindu, 2015).
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To identify the value added and non-value added activity in Casting cycle and their effect on cost and time using value stream mapping.
2. Literature review
1. Introduction
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