Project Abstract

Abstract
This research study investigates the prevalent issue of cost overruns in construction projects through the lens of a case study approach. The construction industry is notorious for experiencing cost overruns, which can have significant impacts on project outcomes, stakeholders, and the overall economy. The primary aim of this research is to identify the root causes of cost overruns in construction projects and propose effective strategies to mitigate and manage these overruns. The research methodology employed in this study includes a comprehensive literature review to understand the existing theories, models, and frameworks related to cost overruns in construction projects. Additionally, a qualitative case study approach will be utilized to analyze real-world construction projects that have experienced significant cost overruns. The case studies will provide valuable insights into the factors contributing to cost overruns, such as inaccurate cost estimates, scope changes, delays, and unexpected risks. Chapter One of the research provides an introduction to the study, outlining the background, problem statement, objectives, limitations, scope, significance, structure, and definitions of key terms. Chapter Two delves into an extensive literature review, examining existing research on cost overruns in construction projects, theories of project cost management, and best practices for cost estimation and control. In Chapter Three, the research methodology is detailed, including the research design, data collection methods, sampling techniques, and data analysis procedures. This chapter also discusses the selection criteria for the case studies and the rationale behind the chosen approach. Chapter Four presents the findings of the case studies, highlighting the common causes of cost overruns identified in the construction projects analyzed. The chapter also discusses the implications of these findings and proposes recommendations for improving cost estimation, project planning, risk management, and stakeholder communication to prevent and address cost overruns. Finally, Chapter Five offers a conclusion and summary of the research, emphasizing the key findings, implications, and recommendations. The research contributes to the existing body of knowledge on cost overruns in construction projects and provides practical insights for industry practitioners, project managers, policymakers, and researchers to enhance cost management practices and project outcomes. In conclusion, this research study on the analysis of cost overruns in construction projects using a case study approach aims to enhance the understanding of cost overrun phenomena, identify effective strategies for cost management, and contribute to the overall improvement of project delivery in the construction industry.

Project Overview

The project on "Analysis of Cost Overruns in Construction Projects: A Case Study Approach" aims to investigate the significant issue of cost overruns in construction projects, with a focus on understanding the underlying causes, implications, and potential solutions. Cost overruns in construction projects have been a pervasive challenge that can lead to financial losses, delays, disputes, and ultimately impact the overall success of a project. This research will delve into the complexities of cost estimation, budgeting, and management in construction projects to identify the key factors contributing to cost overruns. The case study approach will be utilized to provide a detailed examination of real-world construction projects that have experienced cost overruns. By analyzing specific case studies, this research intends to uncover patterns, trends, and common pitfalls that lead to cost overruns in the construction industry. Through the in-depth investigation of these case studies, the research aims to offer valuable insights and lessons learned that can inform better practices and strategies for cost management in construction projects. The research will begin by introducing the background of the study, highlighting the prevalence and impact of cost overruns in construction projects. The problem statement will clearly define the research question and objectives, aiming to address the root causes of cost overruns and explore potential solutions. The scope and limitations of the study will be outlined to provide a clear understanding of the research boundaries and constraints. A comprehensive literature review will be conducted to explore existing theories, models, and studies related to cost overruns in construction projects. This review will provide a theoretical framework for the research and help identify gaps in the current knowledge that this study seeks to address. The methodology section will detail the research design, data collection methods, and analytical techniques that will be employed to investigate the research question effectively. The findings from the case studies will be thoroughly analyzed and discussed in Chapter Four, aiming to identify common themes, factors, and best practices related to cost overruns in construction projects. This chapter will present a detailed examination of the case study findings, offering insights into the root causes of cost overruns and potential strategies for mitigating these risks. Finally, Chapter Five will present the conclusion and summary of the research, highlighting key findings, implications, and recommendations for future practice. The research overview on the "Analysis of Cost Overruns in Construction Projects: A Case Study Approach" seeks to contribute to the body of knowledge on cost management in construction projects and provide valuable insights for industry professionals, researchers, and policymakers striving to improve project outcomes and mitigate the risks associated with cost overruns.