2022· Construction Business and Project Management Conference· 0 citations· 31 references
Abstract
Most of the construction projects fail to be completed within cost and time. This study aimed to assess the project risk factors that lead to construction cost overruns. The study
employed a quantitative research approach. A purposive sampling technique was used to source data from a sample size of 50 respondents. A survey questionnaire was used to
collect data from professionals involved in designing and executing construction projects, based in Gauteng province in South Africa. The respondents include
Architects, Engineers, Construction Project Managers and Quantity Surveyors. Data were analysed using the relative importance index. The top ten major causes of cost
overruns were identified. Results revealed that incompetent contractors, lack of project risk governance, poor project controls, inadequate communication, inadequate planning,
payment delays by project owners, inadequate knowledge about the project and its complexity, naccurate estimates, ineffective decision-making process, and poor contract
management are risk factors for cost overruns. Project management companies could use this study's results to improve project control effectiveness
Mega construction projects have various scopes executed by more than one contractor. Poor coordination of the scheduling and execution of the contractors can lead to
exorbitant claims. The purpose of this study was to determine cost overrun factors that could lead to construction claims in a multi-contractor set-up for...
M. Tshehla· Construction Business and Pr...· 0 citations
Road construction projects in Tanzania continue to experience persistent cost overruns, undermining infrastructure development and broader economic growth. This study employs probit regression analysis to identify the key factors influencing cost escalation in road construction projects. The main objective was to deter...
F. A. Rwechungura· Journal of Sustainable Resea...· 0 citations
A greater demand is placed on stakeholders to deliver projects on time and within budget. This study examines the prevalence and underlying causes of cost overruns in Saudi Arabian construction projects and models the interrelationships among those causes. Twenty-five factors were identified from the literature and ref...
K. Aldossari· Civil Engineering Journal· 0 citations
Cost overruns remain a persistent challenge in private small-scale construction projects, adversely affecting project cost performance, resource utilization, and overall project success. This study examined the strategic approaches used to minimize cost overruns and developed a Cost Overrun Action Plan to support effec...
Jonathan Jedidiah Ison· Business Fora: Business &...· 0 citations
According to a review of different authors' work, there are numerous risk factors that could impact the final account sums (FAS) of construction projects, causing variations in contract sum (CS). By minimising the variability between the final account sum FAS and CS, a compelling risk study could help resolve this issu...
Babatunde Dosumu, O. Ejohwomu, Akilu Yunusa Kaltungo et al.· Construction Business and Pr...· 0 citations
Many construction projects have experienced cost underruns with no research to investigate the drivers for the cost underruns. Hence, this study investigated the key
drivers of construction cost changes in the South Africa. A quantitative method research approach was employed in obtaining data for this study. The signi...
A. Windapo, Emmanuel Dele Omopariola, I. Albert et al.· Construction Business and Pr...· 0 citations
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