Life Cycle Costing (LCC) is a tool, which can evaluate all the building-related costs over a specified period of time, as mentioned in the agreed scope. Though there are number of benefits, LCC practices of consultants in the building industry are claimed to be weak. Hence, the aim of this research is to investigate barriers in practicing LCC techniques experienced by Sri Lankan quantity surveyors. Accordingly, a mixed approached was followed in data collection through a questionnaires survey and a series of expert interviews. However, in Sri Lanka, building construction consultants are not practicing the LCC concept to a greater extent. This research identified, lack of awareness on the LCC tool by employers and practitioners, lack of knowledge on LCC and lack of previous data as the major barriers for practicing LCC techniques in local context. It was suggested that enhancing the practice of LCC through conducting various awareness programme on LCC concept, build up and maintain the proper database and introducing user friendly tools, applications, calculations methods, guidelines and regulations, will lead to avoid above mentioned barriers, which will ultimately enhance the proper practice of LCC concept in the Sri Lankan quantity surveyors.
Price fluctuation is a significant risk factor, in every construction project market. It is unavoidable and difficult to forecast. However, it is often argued that there is a difference between the amount calculated with the CIDA price fluctuation formula method and the actual price fluctuation. Therefore, the aim of this research is to investigate the industry opinion on whether there is a difference between price escalations calculated using the CIDA price fluctuation formula and actual price fluctuation. A qualitative research approach was selected to achieve the aim of this research. Through a broad study of literature, it was identified the most critical factors which affected actual price fluctuation deviation. Meanwhile, semi-structured interviews were carried out to identify the reasons affecting fluctuation difference by analysing the data, which was used, and comparing the opinions given by the interviewees. The data was analysed using context analysis. The results of the research confirm that. there is a difference between the amount of price escalation using the ICTAD price fluctuation formula and the actual being used. The main reason behind this difference is the less accuracy of cost indices. To improve the accuracy of the results of this formula, appropriate data collection using an appreciate sample of contractors in producing price indices is recommended as the main.
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