Evaluation of Factors Influencing Cost Overruns in Construction Projects: A Case Study of Commercial Buildings

Project Abstract

Construction projects are often plagued by cost overruns, leading to significant financial implications for stakeholders involved. This research aims to evaluate the factors influencing cost overruns in construction projects, specifically focusing on commercial buildings. By conducting a case study approach, this study seeks to identify the key factors contributing to cost overruns and propose strategies to mitigate these challenges. The research begins with a comprehensive review of existing literature on cost overruns in construction projects, highlighting the various factors identified in previous studies. This literature review forms the foundation for understanding the complexities associated with cost overruns and provides a theoretical framework for the study. The methodology employed in this research involves a mixed-method approach, combining quantitative data analysis and qualitative case study analysis. Data collection will be carried out through surveys, interviews, and document analysis to gather insights from industry professionals, project managers, and stakeholders involved in commercial building projects. The findings from this research are expected to reveal the most prevalent factors contributing to cost overruns in commercial building projects. These factors may include poor project management, design changes, inadequate risk management, material price fluctuations, and unforeseen site conditions. By identifying these factors, this study aims to provide recommendations for improving project planning, risk management, and cost estimation to minimize cost overruns. The discussion of findings will delve into the implications of the identified factors on construction project outcomes and explore potential solutions to address these challenges effectively. Practical strategies and best practices will be proposed to enhance project performance and mitigate the risks associated with cost overruns in commercial building projects. In conclusion, this research contributes to the existing body of knowledge on cost overruns in construction projects by offering insights into the specific factors influencing cost overruns in commercial building projects. The study underscores the importance of proactive project management, effective risk assessment, and accurate cost estimation in mitigating cost overruns and ensuring project success. Keywords Construction Projects, Cost Overruns, Commercial Buildings, Project Management, Risk Management, Case Study, Factors Influencing Cost Overruns.

Project Overview