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

Project Abstract

Cost overruns in construction projects have been a persistent issue leading to financial losses, delays, and disputes. This research project aims to conduct a comprehensive analysis of cost overruns in construction projects within the context of Quantity Surveying using a case study approach. The primary objective is to identify the key factors contributing to cost overruns and to propose strategies for mitigating these challenges. The study will focus on examining the causes of cost overruns, analyzing their impact on project outcomes, and evaluating the effectiveness of current cost management practices. Chapter One provides an introduction to the research topic, discussing the background of the study, the problem statement, objectives, limitations, scope, significance, structure of the research, and definition of key terms. Chapter Two presents a detailed literature review comprising ten key themes related to cost overruns in construction projects, including cost estimation techniques, project management practices, risk management, and the role of Quantity Surveyors. Chapter Three outlines the research methodology, including the research design, data collection methods, sampling techniques, data analysis procedures, and ethical considerations. The chapter further discusses the case study approach adopted for this research, detailing the selection criteria for the case studies and the data collection process. In Chapter Four, the findings of the research are presented and discussed in detail. The chapter covers seven key items, including the identification of common causes of cost overruns, the impact of cost overruns on project performance, the effectiveness of cost management strategies, and the role of Quantity Surveyors in managing cost overruns. The chapter also highlights best practices and lessons learned from the case studies. Chapter Five concludes the research project by summarizing the key findings, discussing the implications of the research, and providing recommendations for industry practitioners and policymakers. The chapter reflects on the significance of the study in addressing cost overruns in construction projects and proposes avenues for future research in this area. Overall, this research project contributes to the existing body of knowledge by offering insights into the factors influencing cost overruns in construction projects and proposing practical solutions for improving cost management practices in Quantity Surveying. By adopting a case study approach, this study provides a holistic understanding of cost overruns and their implications for project success, thereby offering valuable guidance for industry professionals and stakeholders involved in construction project management.

Project Overview