Analysis of Cost Overrun Factors in Construction Projects: A Case Study Approach in Quantity Surveying

Project Abstract

Cost overrun in construction projects is a prevalent issue that can significantly impact project success and stakeholder satisfaction. This research aims to analyze the factors contributing to cost overruns in construction projects through a case study approach in the field of Quantity Surveying. The study will investigate the various aspects that lead to cost overruns, such as inaccurate cost estimation, scope changes, poor project management, and unforeseen circumstances. By identifying these factors, the research seeks to provide insights into how cost overruns can be minimized or avoided in future construction projects. Chapter One introduces the research by providing an overview of the background of the study, problem statement, objectives, limitations, scope, significance, structure of the research, and definition of key terms. The background of the study highlights the importance of addressing cost overruns in construction projects to ensure project success and client satisfaction. The problem statement emphasizes the need to understand the root causes of cost overruns to develop effective mitigation strategies. The objectives of the study include identifying the key factors contributing to cost overruns and proposing solutions to mitigate these issues. The limitations and scope of the study define the boundaries and constraints within which the research will be conducted. The significance of the study underscores its potential to contribute valuable insights to the field of Quantity Surveying. The structure of the research outlines the organization of the subsequent chapters, while the definition of key terms clarifies the terminology used throughout the study. Chapter Two presents a comprehensive literature review that examines existing research on cost overruns in construction projects. The review covers ten key areas, including the definition of cost overrun, common causes of cost overruns, impact of cost overruns on project outcomes, and best practices for cost estimation and management in construction projects. Chapter Three outlines the research methodology employed in this study, including the research design, data collection methods, sampling techniques, data analysis procedures, and ethical considerations. The methodology section details how the case study approach will be used to investigate cost overrun factors in construction projects, ensuring the reliability and validity of the research findings. Chapter Four presents a detailed discussion of the research findings, analyzing the factors contributing to cost overruns in the selected case studies. The chapter discusses seven key findings related to cost estimation accuracy, scope management, project scheduling, risk assessment, stakeholder communication, change management, and contingency planning. Finally, Chapter Five concludes the research by summarizing the key findings, discussing their implications for practice, and providing recommendations for future research. The conclusion highlights the importance of addressing cost overrun factors in construction projects and suggests practical strategies for mitigating these issues. This research contributes to the field of Quantity Surveying by enhancing our understanding of cost overrun factors and proposing solutions to improve project cost management practices. In conclusion, this research provides valuable insights into the analysis of cost overrun factors in construction projects through a case study approach in Quantity Surveying. By identifying and addressing the root causes of cost overruns, this study aims to enhance project success, improve stakeholder satisfaction, and contribute to the overall efficiency of construction project management practices.

Project Overview