Study of Factors Causing Cost Overrun in Construction Industry Using AHP Technique: A Review
Journal Title: International Journal of engineering Research and Applications - Year 2017, Vol 7, Issue 7
Abstract
Cost overrun has become a serious problem in construction sector. When the project could not be completed in estimated time at given budget then cost overrun occurs which is excess of actual cost over budget. These overruns have harmful impact on the financial system of country. Cost overrun have several factors that don't seem tobe taken into consideration at the time of planning resulting into delays and cost will increase. Within the study, we've got studied literature and known those factors influencing cost overruns. The primary findings emanating from the study disclosed that empirical studies have known variety of necessary factors that cause project cost overruns. These factors are categorized into several group depending on their category. It is found that understanding the cause of such factor by construction manager should help to avoid or minimize the cost overruns and gives better cost performance over the life of the project.
Authors and Affiliations
Shah Mohd Shahbaz, Sohit Agrawal, Dr. Mukesh Pandey
Keywords
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