Cost overrun is a common problem in construction projects worldwide.Most Indian construction projects,particularly those involving high-rise buildings,have had severe cost overruns.For managers,architects,engineers,an...Cost overrun is a common problem in construction projects worldwide.Most Indian construction projects,particularly those involving high-rise buildings,have had severe cost overruns.For managers,architects,engineers,and contractors,completing building projects within the specified cost budget has become the most important and hard assignment.Since it is common for high-rise building projects to go over budget,the aim of this study is to find out the causes of cost overruns and provide effective measures.The study found 70 cost overrun factors based on a comprehensive literature review and expert opinions.A Google form questionnaire was distributed to 150 construction professionals across India.After following up,101 of the 150 responses were received.A five-point Likert scale was used and the acquired data was analyzed and ranked using the Relative Importance Index(RII)technique.According to the findings of RII,the top ten critical factors influencing cost overruns were frequent change orders during construction by the owner,delay in construction,escalation of material prices,market inflation or deflation,rework,frequent changes in design,inaccurate evaluation of the project timeline,unforeseen ground condition,inaccurate quantity take-off,and delay in progressive payment by the owner.Spearman’s rank correlation test revealed that there is a very significant relationship between the rankings of factors provided by the owner,the consultant,and the contractor.In addition,a factor analysis tool in the SPSS software was also used to categorize the seventy factors into sixteen core components.The top ten critical factors were presented to subject matter experts,and their suggestions were being compiled.These results are expected to help construction professionals minimize cost overruns,improve cost control measures,and initiate future research.展开更多
Recently, the highway construction projects increase rapidly in Vietnam and most of them are international contracting projects. It results serious negative influence on the local government and enterprises that the c...Recently, the highway construction projects increase rapidly in Vietnam and most of them are international contracting projects. It results serious negative influence on the local government and enterprises that the common cost overrun of projects, and the risk factors of it is different in the different countries, different stages and projects types. So in this paper, we generate an evaluation index system of highway construction projects cost overrun risk in Vietnam in the perspective of different project participants, and also evaluate the effects of these factors in method of regression analysis. The empirical results confirmed 7 main factors that have aggravated cost overrun risk in construction stages, e.g. survey and design scheme risk. In final, the corresponding suggestions are proposed to reduce the project cost overrun risk.展开更多
Cost and time overrun are the key troubles of any improvement ventures. These troubles are inflicting the terrible end result in the development of kingdom monetary improvement and thriving. To overcome these problems...Cost and time overrun are the key troubles of any improvement ventures. These troubles are inflicting the terrible end result in the development of kingdom monetary improvement and thriving. To overcome these problems, the?paper examines predominant impact on elements causing the mission postponement and cost. A poll review was led for the situation study embracing various information-gathering procedures. The discoveries from the contextual investigation uncovered that the most persuasive factors in Malaysia:?1) contractor’s inappropriate arranging, 2) poor site the board, 3) deficient contractual worker experience,?are the most powerful factors. This paper has likewise broken down the normal and least effective of the postpone variables causing task deferral and cost overrun in Malaysia. It likewise infers that there are various measures as per the idea of deferring components to decrease the effect on task postponement and cost overruns in the development industry.?There are significant factors in the control of time overrun that would be actual thought related to know and tackle in great impact to improvement rate which may additionally no capacity that be recovered. Thirty (30) massive development extensions in Malaysia were exceptional coping with time overrun at some stage in development. Out of 30 undertakings, 17 (56.67%) ventures had been introduced by using 1100 days’ time overrun, 5 (16.67%) extensions in the middle of a hundred and one to 200 days, 5 (16.67%) ventures?201 to 300 days while three (10%) ventures have been deferred for timeframe over 300 days.展开更多
文摘Cost overrun is a common problem in construction projects worldwide.Most Indian construction projects,particularly those involving high-rise buildings,have had severe cost overruns.For managers,architects,engineers,and contractors,completing building projects within the specified cost budget has become the most important and hard assignment.Since it is common for high-rise building projects to go over budget,the aim of this study is to find out the causes of cost overruns and provide effective measures.The study found 70 cost overrun factors based on a comprehensive literature review and expert opinions.A Google form questionnaire was distributed to 150 construction professionals across India.After following up,101 of the 150 responses were received.A five-point Likert scale was used and the acquired data was analyzed and ranked using the Relative Importance Index(RII)technique.According to the findings of RII,the top ten critical factors influencing cost overruns were frequent change orders during construction by the owner,delay in construction,escalation of material prices,market inflation or deflation,rework,frequent changes in design,inaccurate evaluation of the project timeline,unforeseen ground condition,inaccurate quantity take-off,and delay in progressive payment by the owner.Spearman’s rank correlation test revealed that there is a very significant relationship between the rankings of factors provided by the owner,the consultant,and the contractor.In addition,a factor analysis tool in the SPSS software was also used to categorize the seventy factors into sixteen core components.The top ten critical factors were presented to subject matter experts,and their suggestions were being compiled.These results are expected to help construction professionals minimize cost overruns,improve cost control measures,and initiate future research.
文摘Recently, the highway construction projects increase rapidly in Vietnam and most of them are international contracting projects. It results serious negative influence on the local government and enterprises that the common cost overrun of projects, and the risk factors of it is different in the different countries, different stages and projects types. So in this paper, we generate an evaluation index system of highway construction projects cost overrun risk in Vietnam in the perspective of different project participants, and also evaluate the effects of these factors in method of regression analysis. The empirical results confirmed 7 main factors that have aggravated cost overrun risk in construction stages, e.g. survey and design scheme risk. In final, the corresponding suggestions are proposed to reduce the project cost overrun risk.
文摘Cost and time overrun are the key troubles of any improvement ventures. These troubles are inflicting the terrible end result in the development of kingdom monetary improvement and thriving. To overcome these problems, the?paper examines predominant impact on elements causing the mission postponement and cost. A poll review was led for the situation study embracing various information-gathering procedures. The discoveries from the contextual investigation uncovered that the most persuasive factors in Malaysia:?1) contractor’s inappropriate arranging, 2) poor site the board, 3) deficient contractual worker experience,?are the most powerful factors. This paper has likewise broken down the normal and least effective of the postpone variables causing task deferral and cost overrun in Malaysia. It likewise infers that there are various measures as per the idea of deferring components to decrease the effect on task postponement and cost overruns in the development industry.?There are significant factors in the control of time overrun that would be actual thought related to know and tackle in great impact to improvement rate which may additionally no capacity that be recovered. Thirty (30) massive development extensions in Malaysia were exceptional coping with time overrun at some stage in development. Out of 30 undertakings, 17 (56.67%) ventures had been introduced by using 1100 days’ time overrun, 5 (16.67%) extensions in the middle of a hundred and one to 200 days, 5 (16.67%) ventures?201 to 300 days while three (10%) ventures have been deferred for timeframe over 300 days.
