Abstract:
Cost information is a crucial element in the construction industry; however, prevailing methods for presenting it to stakeholders are limited to formats such as Bills of Quantities (BOQs), quotations, and cost reports. This study, therefore examines the use of the Concept Map technique to represent cost information in construction, which is commonly used in other industries. Since this technique is not currently in practice in construction, the study employs a hypothetical scenario to demonstrate the comparative effectiveness of Concept Maps against traditional methods for cost information representation. A financial feasibility report was developed using the traditional method to represent cost information for a hypothetical construction project, alongside a Concept Map to visually explain the report’s details. Subsequently, semi-structured interviews were conducted with industry experts to compare the effectiveness of the traditional report and the Concept Map for information representation. Content analysis was then performed to identify recurring opinions from experts regarding the use of the Concept Map technique for representing cost information. The study found that Concept Maps have key advantages over conventional reports, such as direct data access, data summarisation, graphical representation, and visible cost build-up. Further findings suggest that Concept Maps would be ideal for developing cost analyses, breakdowns, budgets, and for comparing cost information.
