Factors affecting the accuracy of cost estimate: case of Jordan

Purpose Cost estimating process is an important element within the project life cycle. Comprehensive information, expanded knowledge, considerable expertise, and continuous improvement are needed to obtain accurate cost estimation. The main objectives of this study are to identify the critical factors that affect accuracy of cost estimation and evaluate the degree to which these factors are important from contractors’ and consultants’ viewpoints. Design/methodology/approach Qualitative, and quantitative research approaches were adopted in collecting and analyzing the data, and testing the hypotheses. Based on literature review, a questionnaire was prepared and then was modified according to the results of face-to-face open-ended interviews conducted with 11 project managers. The final version of the questionnaire was distributed to a random sample of 265 respondents. For analyzing the collected data Kendall’s and Mann Whitney tests were conducted Findings The analysis revealed that there is a strong agree...

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