A Study of Factors Resulting in Time and Cost Overrun in Residential Construction Projects and its Remedial Measures (original) (raw)
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A Study of Factors Caused for Time & Cost Overruns in Construction Project & their Remedial Measures
2015
The Construction industry is one of the key economic industry in India and is the main motivating force in Indian national economy. But, it suffers from a number of problems that affect time, cost and quality performances. Successful management of construction projects is based on three major factors i.e. time, cost and quality. The successful completion of construction projects within the specified time has become the most valuable and challenging task for the Managers, Architects, Engineers and Contractors. How to achieve this task is a problem, which should be solved. The overall objective of this study is to identify the factors resposinle for overruns in time and cost of the construction project and suggest the suitable remedial solutions. Poor planning, implementation and management are the main reasons for time and cost overruns in construction projects in India. Since most of the reasons are well known and can be controlled if a proper arrangement is made.
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The effect of time overrun in building construction projects was assessed with the view of finding the possible ways of mitigating the effects of time overrun in construction project. A quantitative research method was adopted and data were collected by means of questionnaires. Research findings indicates that the time factor that have impact on construction project delivery include poor budgeting system, lack of proper cash flow, poor resource utilization, improper time schedule plan, unnecessary delays, poor management of time. The view of contractors regarding time in construction is experiencing a positive change from factors that require less concern or factors needed for reference purpose to those factors that determine the success of a project, factors that help in avoiding liquidated damages and the major factors to be considered in the preparation and submission of tender. The research also indicates that various relationships exist between construction project time and cost depending on the perspective in which it is viewed and value considered, relationship ranging from a trade-off to direct professional relationship all explain how related cost and time are in construction projects.
Causes of Cost and Time Overrun in Construction Projects -A Literature Review
Engineering & Technology, 2023
Construction projects are becoming increasingly common in developing countries. The need for rapid infrastructure development has resulted in the design and implementation of large scope and size projects in terms of complexity and costs. Time and cost are the lifelines of every project in the construction industry. The project managers and other project professionals aim to control the time and cost and ensure that the projects finish on time without any time overrun and without any cost overruns, with perfect management principles to complete the project. In this context, a qualitative research study has been undertaken in this work, to analyse the reasons for time and cost overrun in construction projects. It is most important to study, analyses and evaluate the causes and effects of the common factors leading to the cost and time overruns constraints and suggest the best and suitable mitigation measures to overcome time and cost overrun constraints.
Time Overrun and Cost Effectiveness in the Construction Industry
The project management technique of planning and scheduling using tools and devices are helpful in comparing the project with stipulated cost, time and quality. Resource tracking, Minimize the uncertainty and Cost Effectiveness is focused in this project. The software tool used for planning and scheduling is Primavera project planner enterprise for construction. The study covers three case studies of the process of planning, scheduling the activities and monitoring. A general re sequencing model had been proposed to overcome the delay factor from the critical area, to minimize the delay of the construction and to reduce the time, cost and it also helpful to concentrate on the major areas in the project. Re sequencing model leads the management to cost savings and make entire project success. Resource planning is one aspect, which decides the systematic execution of the project at worksite. This study is to have hands-on experience in an ongoing project, and evaluation of schedule of equipment, staff, Labor and Materials. It helps to plan and evaluate the resources for the Construction of the building project. This study also compares the cost variation due to the delay of the project and re scheduling the project by crashing process.
Factors Affecting Cost and Time Overrun In Construction Project
Zenodo (CERN European Organization for Nuclear Research), 2023
The building sector is India's largest fiscal sector. Timeliness and sticking to set price are two most important factors in overall achievement of project's plans. The primary objective of this study is to pinpoint main reasons why building projects run over budget and behind schedule. To identify factors influencing the increase in construction time and cost, an extensive literature review was managed. Taking these considerations into account, questionnaire was created & distributed to various owners, clients. Following factors have been identified as the most significant causes of construction delays: 'Social relevance effect,' 'Work environment and health and safety in project,' 'Client / owner related polarity,' and sub factors are shortage of materials and labours, and significant cost overrun factors identified are 'Inaccurate project estimations,' 'Serious Project Design Errors,' 'Administration Errors,' 'Not Hiring Right Team,' and sub factors are inflation of materials and equipment.
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The construction industry is considered an essential element to stabilize countries economically. In the UAE, this sector has received a lot of attention and development since the discovery of oil. This has enhanced the continuous expansion in construction activities. Recently, the construction projects in the UAE and KSA together reached 60% of the whole projects in the Middle East region, and the majority of it was in Dubai, which in 2018 enhanced its Gross Domestic Product (GDP) to reach 14.5%. Therefore, the decision-makers apply multiple methods at different projects in order to achieve the prime factors for project success which are: cost, time, quality, and safety. However, there are different variables and unpredictable causes that are faced by the construction industry, such as the availability of the main resources, different environmental conditions, financial issues, political conditions, poor productivity, and contractual relations. Meanwhile, there is a great interest ...
IRJET, 2021
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.
Study of Factors Causing Time and Cost Overrun throughout Life Cycle of Construction Project
This paper presents a study of factors affecting time and cost overruns throughout life cycle of construction projects. The issues of overrun in construction are very common worldwide including Malaysia. However, no researchers investigate this problem according to the phases of construction. Hence, this study is to classify the overrun factors into phases of project life cycle which include planning phase, design phase, construction phase and finishing phase. A total of 35 factors were identified based on previous studies involving a number of different countries. These factors were classified according to degree of occurrence of each phase. Based on this classification, it shows that most of the factors occurred in construction phase. This classification gives better understanding amongst construction practitioners.
IRJET- CAUSES OF TIME OVERRUN IN CONSTRUCTION PROJECTS
IRJET, 2021
This disquisition presents a study made on the factors, causes, and effects of time overrun in the construction industry. The favorable outcome of the project depends on the time, quality and work done within the budget of the client. Schedule overrun is being one of the remarkable complications faced by the construction industry nowadays. There are numerous reasons and factors responsible for the schedule overrun which needs to be given priority and solved in order to complete the given project on time and for the satisfaction of the client. Infrastructure plays a predominant role in economic upswing of the country. The aim of this research is to identify the reasons responsible for time overrun in the construction projects. By this research we would be able to give attention to collaborators to drop down the factors of time overrun in construction projects.