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Selection and weight determination of factors for price adjustment formulae based on bill of quantities

2025Artigo científico Acesso aberto
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datacite.subject.fosEngenharia e Tecnologia::Engenharia Civil
datacite.subject.fosCiências Sociais::Economia e Gestão
datacite.subject.sdg09:Indústria, Inovação e Infraestruturas
datacite.subject.sdg16:Paz, Justiça e Instituições Eficazes
dc.contributor.authorOliveira, Rui
dc.contributor.authorAbreu, Maria Isabel
dc.contributor.authorLopes, Jorge
dc.date.accessioned2026-03-04T15:03:13Z
dc.date.available2026-03-04T15:03:13Z
dc.date.issued2025
dc.description.abstractThis study investigates the effectiveness of standard price adjustment formulae for construction contracts in Portugal. Price adjustment is a mechanism that aims to adjust contractual values to market price fluctuations in labor, materials, and equipment. Such formulae are often generalized and applied in contractual practices without being properly tailored to the specific characteristics of each project. To fill this gap, this study, informed by convergent proposals, builds on the argument that the use of different bill of quantities (BOQs)-based price adjustment formulae for the same contract is fairer, more equitable, and with greater capacity to cushion sudden variations in prices. Using a case study, consisting of a public construction contract, the study analyses price differences obtained through the application of the standard formula and compares them, over different periods, with those obtained through the use of two alternative calculation formulae specifically developed according to the project's characteristics. The performance of all scenarios was evaluated against the evolution of the growth rate of the construction cost index (CCI). The results demonstrate that the standard formula, even when it is readjusted, provides disproportionate results. In contrast, the BOQ-based price adjustment formulae, developed according to different phases of the works, provide results that are very close to those obtained by CCI-based escalation. The behavior of these customized formulae, even during periods of high price indices increases, closely tracks that of inflation. The results of the study call for the enactment of a more comprehensive legal mechanism so that all cost elements of a construction project can be properly reflected in price adjustment methodologies.eng
dc.description.sponsorshipNone.
dc.identifier.citationOliveira, Rui; Abreu, Maria Isabel; Lopes, Jorge. (2025). Selection and weight determination of factors for price adjustment formulae based on bill of quantities. Systems. ISSN 2079-8954. 13:12. DOI: 10.3390/13121069
dc.identifier.doi10.3390/13121069
dc.identifier.issn2079-8954
dc.identifier.urihttp://hdl.handle.net/10198/35947
dc.language.isoeng
dc.peerreviewedyes
dc.publisherMDPI AG
dc.relation.ispartofSystems
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/
dc.subjectPrice escalation
dc.subjectPrice índices
dc.subjectPrice adjustment formula
dc.subjectBOQs
dc.subjectInflation
dc.subjectConstruction cost index
dc.titleSelection and weight determination of factors for price adjustment formulae based on bill of quantitieseng
dc.typejournal article
dspace.entity.typePublication
oaire.citation.issue12
oaire.citation.titleSystems
oaire.citation.volume13
oaire.versionhttp://purl.org/coar/version/c_970fb48d4fbd8a85
person.familyNameOliveira
person.familyNameAbreu
person.familyNameLopes
person.givenNameRui
person.givenNameMaria Isabel
person.givenNameJorge
person.identifier2190025
person.identifier.ciencia-idBE1A-620F-6670
person.identifier.ciencia-id7119-44BD-B0D7
person.identifier.ciencia-idC717-48BF-73F7
person.identifier.orcid0000-0003-4444-2591
person.identifier.orcid0000-0003-1817-9363
person.identifier.orcid0000-0002-4799-0166
person.identifier.ridAAK-2127-2020
person.identifier.scopus-author-id57193743231
person.identifier.scopus-author-id36982988700
person.identifier.scopus-author-id7202732761
relation.isAuthorOfPublication18758fbc-c57f-48fb-bcec-25f449279fd5
relation.isAuthorOfPublication1d320299-5696-4439-af27-0a1c8323c7f7
relation.isAuthorOfPublication00b52a70-b4c9-4bcb-ba11-8736c0690411
relation.isAuthorOfPublication.latestForDiscovery18758fbc-c57f-48fb-bcec-25f449279fd5

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