Interrelations of the Factors Influencing the Whole-Life Cost Estimation of Buildings: A Systematic Literature Review

Abstract

The global GDP has witnessed a significant upswing, majorly due to the growth of the construction industry. Embracing the whole-life costing (WLC) approach, the construction sector strategically manages expenses across a construction project’s life cycle. However, despite its widespread adoption, accurate cost forecasting remains a major challenge. The intricate interplay of various influencing factors has not been fully explored, leading to inaccurate cost estimations. A comprehensive understanding of specific factors and their interrelationships is crucial to address this issue. Therefore, it is imperative to conduct further research to identify and explore the subtle nuances of these factors that impact whole-life cost estimation. Our study fills this gap, analysing 51 factors from 84 papers across prominent repositories. We assess interrelationships using a systematic literature review and pairwise comparison as in the analytical hierarchy process. The International Construction Measurement Standards (ICMS) framework structures these relationships and is represented in the causal loop diagrams (CLDs). The pioneering CLDs are a notable contribution, illustrating interrelationships and polarities among the 51 WLC factors. Six reinforcing loops and one balancing loop provide valuable insights into their dynamic nature. Importantly, lower-level factors do not always directly connect with upper-level factors. Instead, they interact within the same level before linking to top-level factors. These findings are significant for professionals, such as cost estimators, quantity surveyors and scholars, offering a comprehensive understanding of the WLC system.