Mapping the Influence of Project Management on Project Cost

摘要

This paper develops a framework to map the influence of Project Management (PM) attributes on project cost and then tests these relationships between PM attributes and project cost on industrial construction projects. PM attributes are identified and classified into five areas: Human Resource Management (HRM), function of PM, partnering and supply chain, design efficiency, and quality. The framework model is tested on survey data from member companies of the Construction Industry Institute (CII) using the Structural Equation Modeling method. The results reveal that quality, function of PM, and HRM can have a significant positive impact on project cost. Quality is found to have the most direct and greatest impact on project cost efficiency among PM attributes. The goal of this statistical study is to demonstrate the paths and strengths of the effects of PM attributes on project cost.