IRJET- ELEMENTS OF COST OVERRUNS AND DELAYS IN CONSTRUCTION MANAGEMENT AND HOW THESE ELEMENTS BE CONTROLLED IN CONSTRUCTION PROJECTS (original) (raw)

Construction industry is measured as one of the utmost vital productions in India. Now a days cost overruns and delay are the chief problems of any construction projects in India. These issues are causing the adverse influence on the expansion of country financial development. As the contagion of COVID-19 had stand up into our worldwide that required showy the construction industry. In knowledge to avoid project cost overruns and delays, various features causing delays and cost overruns would be appropriately studied and achieved. The report conferred delays and cost overrun in construction projects; consequently, many cost overruns and delays in numerous projects remained measured. Identifying the primary problems caused by COVID-19 can run the best solution to diminish the plague's impact. The main aim of this research is to recognize the elements that are responsible for cost overruns and delay through literature and by means of these elements' questionnaire prepared and it comprises 30 elements of cost overruns and 35 elements of delay. In this research the Likert scale (five-point scale) is used rating the views of the respondents. After receiving the responses, RII and IMPI are considered and the elements are ranked created on RII and IMPI. Subsequently Pareto analysis method was used to control the elements of cost overruns and delay in construction projects. From this research, by implementing Pareto analysis (80-20 Rule) initiate that 80% cost overruns and delay difficulties minimize/ control by applying lasting elements. The results displayed that, slow and delay payment of completed work, late delivery/supply of materials equipment's by the contractor, inadequate project preparation and planning , frequent design changes, increase of material prices/equipment's price, incorrect preparation and planning by contractor are the major causes of cost overrun and the payment delays, weather condition, unavailability of labour, funding problems, poor financial control on site, shortage of labour are the major causes of delay in construction projects.