Assessment of Whole Life Cost Modelling for Industrial Buildings in Ondo State

Whole life cost modelling provides investors and facility owners with a long-term perspective on building ownership costs, facilitating better informed asset management decisions. This study assesses the application and effectiveness of whole life cost modelling for industrial buildings in Ondo State, focusing on manufacturing facilities and warehouses in the Ore and Akure industrial corridors. A descriptive survey was adopted, with 74 respondents including quantity surveyors, facility managers, and industrial property investors. Structured questionnaires provided data, analysed using descriptive statistics and regression analysis. Findings indicate that whole life costing is rarely applied in the procurement or management of industrial buildings in Ondo State, with investment decisions driven primarily by initial capital cost. Mechanical and electrical system maintenance, roof replacement, and energy costs emerge as the dominant life cycle cost drivers, yet these are rarely considered at design stage. The study establishes a significant relationship between early adoption of whole life cost modelling and lower total occupancy costs over a 20-year horizon. Recommendations include the development of industrial building elemental cost benchmarks for Ondo State, training of quantity surveyors in maintenance cost modelling and energy performance analysis, and legislative incentives for investors who commission whole life cost studies. This research contributes to the limited industrial building cost management literature in the South West geopolitical zone. Keywords: whole life costing, industrial buildings, Ondo State, facility management, cost modelling