Preliminary survey on critical cost overrun factors in the construction industry of Pakistan
Cost overruns are a common issue in the construction industry of developing countries particularly Pakistan. Construction industry of Pakistan is playing important role for development and economic growth of Pakistan. Comprehensive understanding is required to overcome this cost overrun problem....
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| Main Authors: | , , |
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| Format: | Conference or Workshop Item |
| Language: | en |
| Published: |
2022
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| Subjects: | |
| Online Access: | http://eprints.uthm.edu.my/11741/1/P16936_cb00481e0e956d27e59f1fafea059f40%207.pdf http://eprints.uthm.edu.my/11741/ https://doi.org/1 0.1063/5.0200577 |
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| Summary: | Cost overruns are a common issue in the construction industry of
developing countries particularly Pakistan. Construction industry of
Pakistan is playing important role for development and economic
growth of Pakistan. Comprehensive understanding is required to
overcome this cost overrun problem. The objective of this study is to
identify the critical cost overrun factors in construction industry of
Pakistan. To accomplish this objective, a detailed literature review
was carried initially, which resulted in identifying 49 common cost
overrun factors in the construction sector. Second, a structured
questionnaire with a 5-point Iikert scale was designed and
disseminated to 33 highly experienced stakeholders in Pakistan's
construction industry to obtain opinion on critical cost overrun
factors. Data was collected and analysed using mean score
analysis. Based on mean scores critical cost overrun factors are
schedule delay, financial difficulties faced by contractor, fluctuation
in price of materials, poor site management, poor contract
management, inadequate planning, fraudulent practices and
kickbacks, frequent design changes, change in scope of project.
This study convey a better understanding of critical cost overrun
factors to stake holders of construction Industry of Pakistan in order
to mitigate the cost overrun |
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