Thesis Abstract

Abstract
This thesis investigates the optimization of cost management strategies in construction projects, focusing on a case study of a high-rise residential building. The construction industry faces challenges in managing costs effectively, leading to budget overruns and delays. Thus, the research aims to identify and analyze strategies that can improve cost management practices in construction projects, with a specific focus on high-rise residential buildings. The study begins with an introduction that outlines the background of the research, presents the problem statement, objectives, limitations, scope, significance, and structure of the thesis. A comprehensive literature review in Chapter Two explores ten key aspects of cost management strategies in construction projects, providing a theoretical framework for the research. Chapter Three discusses the research methodology, detailing the research design, data collection methods, sampling techniques, data analysis procedures, and ethical considerations. The methodology aims to provide a robust framework for collecting and analyzing data to achieve the research objectives effectively. In Chapter Four, the findings of the study are presented and discussed in detail. The analysis focuses on the cost management strategies employed in the case study of a high-rise residential building, highlighting successful practices and areas for improvement. The chapter aims to provide insights into effective cost management strategies that can be applied in similar construction projects. Finally, Chapter Five presents the conclusions drawn from the research findings and provides a summary of the key points discussed throughout the thesis. The conclusion highlights the importance of optimizing cost management strategies in construction projects to enhance project performance, reduce costs, and minimize delays. Overall, this thesis contributes to the existing body of knowledge by providing valuable insights into cost management strategies in construction projects, particularly in the context of high-rise residential buildings. The research findings offer practical recommendations for industry professionals, project managers, and stakeholders to enhance cost management practices and improve project outcomes.

Thesis Overview

The project titled "Optimizing Cost Management Strategies in Construction Projects: A Case Study of a High-Rise Residential Building" aims to explore and analyze the various cost management strategies employed in construction projects, with a specific focus on high-rise residential buildings. The construction industry is known for its complexity, and cost management plays a crucial role in ensuring project success, especially in high-rise developments where costs can escalate rapidly. The research will delve into the existing literature on cost management strategies in construction projects, highlighting the challenges and opportunities faced by stakeholders in the industry. By conducting a case study of a high-rise residential building project, the project will provide a real-world context to examine how cost management strategies are implemented and their impact on project outcomes. The key objectives of the study include identifying the current cost management practices in the construction industry, evaluating their effectiveness in controlling costs in high-rise residential projects, and proposing recommendations for optimizing cost management strategies. By analyzing the data collected from the case study, the research aims to provide valuable insights that can help improve cost management practices in similar projects. The significance of this research lies in its potential to contribute to the body of knowledge on cost management in construction projects, particularly in the context of high-rise residential buildings. By identifying best practices and areas for improvement, the findings of this study can inform industry professionals, project managers, and decision-makers on how to enhance cost management strategies to achieve better project outcomes. Overall, this research overview sets the stage for a comprehensive investigation into cost management strategies in construction projects, focusing on the unique challenges and opportunities presented by high-rise residential buildings. Through a detailed analysis of the case study and relevant literature, this project aims to provide valuable insights and recommendations for optimizing cost management practices in the construction industry.