Cost Benefit Analysis of Modern Formwork Over Conventional Formwork in Mass Dwellings

Abstract

Construction is an important part of the Indian economy and growth. The formwork used in the project is one of the most important factors as it accounts for around 25–30% of the overall project cost of the structure. Today India’s urban population is the second largest in the world and its future development leads to increased demand for housing and to overcome this limitation, India must urgently prepare for land acquisition and rapid construction of housing units. This study is aimed to evaluate the cost benefit analysis of modern and conventional formwork along with its feasibility followed by the estimation of the two techniques on a 27 storied residential building located in Guwahati. This study is focussed on the comparison of two formwork in terms of cost and time. Subsequently, a cost benefit analysis has been done for two buildings built with conventional formwork and the MIVAN technique respectively to assess the impact of time saved in construction on the final value of the project. The findings suggest that there is a cost reduction of 12.38% when MIVAN technology is used instead of conventional. Moreover, it is 14.43% more economically viable than conventional construction. This study is limited to a comparison of conventional formwork with MIVAN technology. Other modern formworks are not included in the comparison. Since cost benefit analysis has been done in this research, this study will help to check the viability of the project and to enable better judgement in the choice of formwork for the construction of the mass dwellings.