ASSESSMENT OF PROJECT COST ESTIMATION PRACTICES : THE CASE OF MENSCHEN FUR MENSCHEN FOUNDATION

Abstract

This research assesses factors affecting the accuracy of cost estimation and analyzes their effect on project Success in Menschen fur menschen foundation. The implications of errors in cost estimation are discussed. The financial & physical performance report of large scale projects are also reviewed in order to assess to what level of accuracy the cost estimation is predicted. Then the data collected through questioner are analyzed and interpreted. The findings have indicated most of the estimated cost of the projects is either under-utilized or over utilized which shows there is undeniable inaccuracies in the project’s cost estimation.