… Professional Cost Managers Begin Annual week
This, it says, had made a bad impact on sustainable construction management, stressing that, without the necessary knowledge and skills, construction managers may be unable to properly evaluate costs and benefits of different options, leading to sub optional decisions and increased costs.
Chairman of the Lagos State Chapter of the Institute, Olanrewaju Farotimi who stated this at a press briefing to kick start the 2023 Annual Quantity Surveyors Week, noted that without the proper skills, it would be difficult to properly implement sustainable practices such as waste management and energy efficiency measures, further increasing costs.
Farotimi identified inflation, currency fluctuation and corruption as the main challenges militating against sustainable cost management of construction projects in Nigeria.
In order to overcome these challenges, he advocates, “the need to invest in the training and development of construction professionals, to ensure that they have the necessary technical expertise to effectively manage costs”.
Farotimi also called for fair wages for artisans in the construction industry to motivate them to give their best and stay in the industry.
He added that: “It was important to establish a clear regulatory framework that promotes transparency and accountability in the construction industry”. This he says would curtail corrupt practices among industry practitioners.
To arrest the inflation quagmire, he said, “it is important to develop innovative cost management strategies that can adapt to the dynamic economic conditions in Nigeria”.
He advised the government to “create incentives for companies to adopt sustainable practices, such as tax breaks or subsidies for using renewable energy. Unlike fossil fuels such as coal and oil, which are finite and can cause environmental damage. “Also, renewable energy such as wind, solar, hydro and geothermal power are considered to be more sustainable options.
“Incorporating renewable energy sources into buildings can help lower operating costs and increase the environmental performance of the builte environment.
According to the Vice Chairman of the Institute, Rilwan Balogun, the annual QS Week of the Lagos Chapter runs from November 28 to December 2, 2023 and activities lined up include a visit to the Bachelli School of the Blind, a symposium which would be held virtually as well as football competition tagged the Chairman’s Cup to hold on Wednesday. A Dinner and Awards Night on Saturday shall wrap up the week.
The theme of this year’s event is: “Challenges to Sustainable Cost Management of Construction Projects in the Nigerian Dynamic Economy: Proffering Solutions”,