Conceptual framework of resource-based cost allocation at procurement phase for onshore fabrication oil and gas projects
Cost overruns are common in construction projects and Onshore Fabrication Oil and Gas projects in Malaysia are not an exception. The paper presents the strategies in controlling the cost in resource allocation management implemented at Procurement Phase. The data gathered from previous researchers&#...
| Published in: | IOP Conference Series: Earth and Environmental Science |
|---|---|
| Main Author: | |
| Format: | Conference paper |
| Language: | English |
| Published: |
IOP Publishing Ltd
2021
|
| Online Access: | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85120467338&doi=10.1088%2f1755-1315%2f881%2f1%2f012021&partnerID=40&md5=56de78d565060f414f3510528b2df43c |
| Summary: | Cost overruns are common in construction projects and Onshore Fabrication Oil and Gas projects in Malaysia are not an exception. The paper presents the strategies in controlling the cost in resource allocation management implemented at Procurement Phase. The data gathered from previous researchers' studies and literature reviews. The study revealed the primary relative importance in the conceptual framework; theory underpinned, procurement phase, activities identification, cost element attributes and resource-based cost allocation towards business profit. Hence, the procurement phase should establish effective project planning, management, and monitoring to improve project performance to control costs in resource allocation for onshore oil and gas fabrication projects. © Published under licence by IOP Publishing Ltd. |
|---|---|
| ISSN: | 17551307 |
| DOI: | 10.1088/1755-1315/881/1/012021 |