FG asks NIQS to introduce integrated cost management into projects

FG asks NIQS to introduce integrated cost management into projects

The Federal Government has called on the Nigerian Institute of Quantity Surveyors (NIQS) to implement an integrated cost management system in carrying out construction projects of varying size and complexity.

The government also called on the institute to understand the passage of time and innovate to keep pace with changes and trends driven by technology.

Senate President Godswill Akpabio made the remarks during the opening of the Institute’s 30th Biennial Conference/General Assembly in Abuja themed “Integrated Cost Management Solutions for Sustainable Infrastructure Project Delivery: Key to National Economic Development” He gave advice and encouraged them to learn from him. Construction companies are using computer-aided software and artificial intelligence to estimate and manage costs.

Mr. Akpabio pointed out that infrastructure development is the basis of all development and cannot be discussed without cost controllers, hence the need for the institute to regularly upskill its members to optimize their proficiency. .

He noted that the successful implementation of infrastructure projects is essential for national economic development, adding that the challenge of efficient cost control has been prevalent in the industry for a long time.

The Senate President asserted that for integrated cost management to be effective, there are several moral requirements, emphasizing that integrated cost management is based on discipline and principles, and that “these values… When unavailable, cost maximization becomes a ploy in project execution.”

Mr Akpabio, who was represented by the Chairman of the Senate Committee on Business, Senator Barinada Mpigi, said it would be difficult to contain the infrastructure deficit if the attributes of discipline and principle were lacking.

He said: “That is why the concept of a sustainable infrastructure system is planned, designed, built, operated and organized to ensure not only economic but financial stability, and that is why the conference on integrated cost management solutions It is also appropriate to recognize the realization of possible infrastructure projects.’ Social, environmental and institutional sustainability. ”

Earlier, the outgoing NIQS Chairman, Mr Olayemi Shonubi, called for the creation of a special fund to hold funds for infrastructure projects to ensure that projects are properly funded and completed on time.

Mr. Shonubi lamented the underutilization of quantity surveyors to control the cost of infrastructure projects, saying, “If quantity surveyors are not present where decisions are made, project numbers will be inflated.” .

He called for an overall review of the management of resources deployed to build infrastructure, stressing that NIQS wants to ensure people get value for money invested in infrastructure.

Keynote speaker Professor Charles Egbu, Vice-Chancellor of Leeds Trinity University, pointed out that approximately $3 trillion of investment is needed over the next 30 years to fill the country’s infrastructure gap.

Mr. Egbu, a former chairman of the Chartered Institute of Building Engineers, noted that lack of actual project definition has led to project failures and high project costs in many regions. He emphasized that projects should be defined correctly from the beginning. By setting clear goals.

Egbu said NIQS can contribute to sustainable infrastructure projects that the country deserves. “The cost control solutions that quantity surveyors should provide should meet the needs of their clients and should be done in a sustainable environment,” he said.

He called on policymakers to bring NIQS to the decision-making table, as projects cannot succeed without true cost control, professionalism, integrity and transparency.

Source: guardian.ng

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