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A platform for research: civil engineering, architecture and urbanism
Assessing Cost Overrun in Construction Industry: A Review
This extensive study methodically categorizes the numerous factors that contribute to cost overruns in construction projects as it carefully explores them. From design and contract-related concerns to estimation complexity and labor considerations, these classes include a wide range of features. The report offers stakeholders a strong framework for informed decision-making by carefully outlining these elements and providing crucial clarity on the underlying causes of cost overruns. An essential tool for stakeholders is the study’s structured classification system, which provides analysis and resolution of the various elements affecting project costs. By means of this precisely defined framework, stakeholders acquire deep understanding of the complexities associated with cost overruns, empowering them to make prudent decisions throughout the project lifecycle. Additionally, the study emphasizes how crucial it is to deepen our understanding of these variables in order to enable project managers to create more winning plans. Equipped with a more profound understanding of the underlying reasons behind cost overruns, project managers can take proactive steps to reduce risks and prevent overruns, which will increase the overall effectiveness of their project management initiatives. In essence, this study encapsulates the crux of its findings, underscoring its pivotal role in aiding stakeholders in navigating and optimizing the financial dimensions of construction projects. By shedding light on these critical aspects, the study equips stakeholders with the requisite knowledge and tools to navigate the complexities of construction projects with greater acumen and efficacy.
Assessing Cost Overrun in Construction Industry: A Review
This extensive study methodically categorizes the numerous factors that contribute to cost overruns in construction projects as it carefully explores them. From design and contract-related concerns to estimation complexity and labor considerations, these classes include a wide range of features. The report offers stakeholders a strong framework for informed decision-making by carefully outlining these elements and providing crucial clarity on the underlying causes of cost overruns. An essential tool for stakeholders is the study’s structured classification system, which provides analysis and resolution of the various elements affecting project costs. By means of this precisely defined framework, stakeholders acquire deep understanding of the complexities associated with cost overruns, empowering them to make prudent decisions throughout the project lifecycle. Additionally, the study emphasizes how crucial it is to deepen our understanding of these variables in order to enable project managers to create more winning plans. Equipped with a more profound understanding of the underlying reasons behind cost overruns, project managers can take proactive steps to reduce risks and prevent overruns, which will increase the overall effectiveness of their project management initiatives. In essence, this study encapsulates the crux of its findings, underscoring its pivotal role in aiding stakeholders in navigating and optimizing the financial dimensions of construction projects. By shedding light on these critical aspects, the study equips stakeholders with the requisite knowledge and tools to navigate the complexities of construction projects with greater acumen and efficacy.
Assessing Cost Overrun in Construction Industry: A Review
Lecture Notes in Civil Engineering
Nehdi, Moncef (editor) / Rahman, Rahimi A. (editor) / Davis, Robin P. (editor) / Antony, Jiji (editor) / Kavitha, P. E. (editor) / Jawahar Saud, S. (editor) / Kumar, Ashutosh (author) / Hooda, Yaman (author)
International Conference on Structural Engineering and Construction Management ; 2024 ; Angamaly, India
2024-12-29
16 pages
Article/Chapter (Book)
Electronic Resource
English
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