Impact of Prefabrication Technology on Profitability in Construction Industry

Precast construction system is a well-known technology though it was developed many years ago but its implementation is not up to the mark in India. Precast elements are prepared in controlled environment which results in proper curing and monitored closely resulting in faster construction. This study focuses on the comparison of conventional and precast construction technology. The construction cost estimation of an eighteen storey building was done by both conventional and precast construction system. Microsoft Project software was used for scheduling and tracking the activities of construction projects. Comparative analysis of equipment's used in both conventional and precast has been carried out, from the data obtained breakeven analysis and has been done for each of the equipment, for obtaining the production rate. Regression analysis was used for comparative analysis to make effective decision making in selecting the technology. Breakeven analysis results yielded that the replacement of equipment within it's the useful life. Cost analysis results shows that precast construction cost is 22.81% higher than conventional. Regression analysis results shows that complete precast construction is not a better option instead combination of conventional and precast construction results in economic construction.