Study and Analysis of Time and Cost Overrun in Construction Sector

Abstract

Construction activity indeveloping countries requires considerable investment outlays. In addition, the majority of construction companies in these countries are marked by overruns in cost and time. Successful execution of construction projects and maintaining them within defined schedule and expense is very important for effective time performance and cost efficiency. This research work is done on studying important factors that cause overruns in time and overruns in costs. A questionnaire was developed based on factors of time and cost overruns learned from literature review. These factors are grouped into 4 categories for time overruns and 4 categories for cost overruns and distributed to the various companies ' Contractor, site engineer, mason, supervisor, quantity surveyor.Some of those factors are frequent design change by owner, poor maintenance of safety stock level, un use of advanced engineering design software, poor site management and supervision by contractor, equipment unavailability and failure, escalation of material prices, ineffective planning and scheduling, decrease in rate of labour productivity mostly affect the time and cost overrun.