FACTORS AFFECTING TIME AND COST OVERRUNS IN THE CONSTRUCTION PROJECTS AND ITS CONTROL TECHNIQUES

摘要

© 2022, Scibulcom Ltd.. All rights reserved.The construction industry is one of the main sectors that provide important ingredients for the development of an economy. However, many projects experience extensive delays and thereby exceed initial time and cost estimates. Construction delay is considered to be one of the most recurring problems in the construction industry and it has an adverse effect on project success in terms of time, cost, quality and safety. The aim of the research is to develop a new methodology for the comparative analysis and quantification of the impact of delay factors in construction projects. This paper represents the findings through descriptive, prescriptive, diagnostic and predictive analytics on delays of construction projects. The results of the survey indicate that contractors and consultants agreed that the owner interference, inadequate contractor experience, financing and payments, labour productivity, slow decision making, improper planning, stringent environment, frequent change of project managers and inefficient subcontractors are among the most important factors. It is hoped that these findings will guide the efforts to improve the performance and efficiency of the construction industry and necessary measures can be taken to reduce the impact of delays and improve project delivery.