Cost-Benefit Analysis of Formwork Systems Commonly Used in Nigeria Construction Industry

Abstract

This study presents a comprehensive cost-benefit analysis of formwork systems commonly used in the Nigerian construction industry. The research evaluated the economic viability and overall impact of traditional timber and prefabricated steel formwork systems in Nigeria construction projects. The study employs a quantitative method through data collection from questionnaires and Life Cycle Cost (LCC) analysis. The findings indicated that fabricated steel formwork is durable, cost-effective, and promotes environmental sustainability compared to traditional timber formwork. The initial cost of timber formwork was found to be 19.76% cheaper than the fabricated steel formwork. However, the LCC analysis suggests that the cost of timber formwork is 5% higher than that of fabricated steel formwork. Therefore, this research provides actionable recommendations for construction stakeholders to optimize formwork selection, enhance economic efficiency, and promote sustainable construction practices in Nigeria’s construction industry.