A Research on Various Aspects Affecting Time and Cost Overruns in Construction Industries

Assessing Factors Influencing Time and Cost Overruns in the Construction Industry in India

Abstract

Construction industry is considered as one of the most important industries in India. It is well known that most construction projects exposed to time and cost overrun or both. These phenomena may affect the progress of construction industry in India as well as may expose many institutions of construction to be destroyed. Literatures of previous studies were classified into two main parts which are: (1) Factors influencing time overruns of project; (2) Factors influencing cost overrun. Most related studies were revised which included the study of these factors in many countries The aim of this study is to assess factors influencing time and cost overruns on construction projects in our country. The objectives of the study were achieved through valid questionnaire. The study illustrated that "delay in preliminary handing over the site" was one of the most important factors that may lead to cost overrun. Also it clarified that contractor's delay of material delivery and equipment has led to cost overrun. The study also clarified that prices inflation highly contributes to cost overrun.