Major problem in Nigeria construction industry is that building contracts are completed atudsums much higher than estimated cost, hence the need to develop predictive cost modeludthat capture factors affecting project cost using principal components regression, throughudset objectives: to identify factors contributing to project cost; examine the importance of theudfactors and develop cost predictive model. Literature review on the study indicated thatudnature of clients, professional involved in a project and their decision regarding design,udfunction, duration, technology and implementation have significant effect on the overalludproject cost. Data for the study are obtained through random sampling of public buildingudprojects completed in Nigeria after 1995. The study identifies six most significant factors toudproject cost among the design related variables as: Level of design complexity; level ofudconstruction complexity; level of technological advancement; percentage of repetitiveudelement; presence of special issues and scope of work. Three factors among time/costudrelated factors as Importance for project to be delivered; time allowed by the client and hisudrepresentative for bid evaluation; need for the project to be completed. Client, consultantudand contractor’s experience on similar project; adequacy of contractor’s plants andudequipments are most significant among project parties experience related factors. Theudselected factors were used for cost predictive model.
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