Thesis Abstract

Abstract
Construction projects are often plagued by cost overruns, which can have significant implications on project success, stakeholder satisfaction, and the overall construction industry. This thesis presents a comprehensive analysis of cost overruns in construction projects, focusing on identifying key factors contributing to these overruns and exploring potential strategies for mitigating their impact. The research adopts a case study approach, examining real-world construction projects to gain insights into the causes and consequences of cost overruns. Chapter 1 provides an introduction to the research topic, outlining the background, problem statement, objectives, limitations, scope, significance of the study, structure of the thesis, and definition of terms. Chapter 2 reviews the existing literature on cost overruns in construction projects, covering ten key areas such as causes of cost overruns, impact on project performance, and best practices for cost control. Chapter 3 details the research methodology employed in this study, including research design, data collection methods, sampling techniques, and data analysis procedures. The chapter also discusses ethical considerations and limitations associated with the research process. Chapter 4 presents a thorough analysis of the findings obtained from the case studies, highlighting common trends, factors, and root causes of cost overruns in construction projects. The chapter also explores the implications of these findings for project management practices and offers recommendations for addressing cost overruns effectively. Chapter 5 concludes the thesis by summarizing the key findings, discussing their practical implications, and suggesting areas for future research. The research contributes to the body of knowledge on cost overruns in construction projects, providing valuable insights for project stakeholders, policymakers, and industry professionals seeking to enhance project performance and mitigate financial risks. Overall, this thesis offers a comprehensive examination of cost overruns in construction projects, emphasizing the importance of proactive cost management practices, stakeholder collaboration, and risk mitigation strategies in ensuring project success and sustainability in the construction industry.

Thesis Overview

The research project titled "Analysis of Cost Overruns in Construction Projects: A Case Study Approach" aims to investigate the factors contributing to cost overruns in construction projects and provide insights into potential strategies to mitigate these challenges. Cost overruns are a prevalent issue in the construction industry, leading to financial implications, delays in project completion, and overall dissatisfaction among stakeholders. By focusing on a case study approach, this research seeks to analyze real-world examples to gain a comprehensive understanding of the underlying causes of cost overruns. The study will begin with a detailed examination of the existing literature on cost overruns in construction projects. This literature review will encompass various aspects such as the definition of cost overruns, common causes and consequences, and previous research findings on this topic. By synthesizing this information, the research aims to identify recurring themes and gaps in the current understanding of cost overruns in construction projects. Following the literature review, the research methodology will be outlined, detailing the approach taken to collect and analyze data for the case studies. The methodology will include information on the selection criteria for the case studies, data collection methods, and the analytical framework employed to interpret the findings. Through a systematic and rigorous research methodology, the study aims to provide reliable and insightful results. The core of the research will focus on the analysis of the selected case studies to identify specific factors that contribute to cost overruns in construction projects. These case studies will represent a diverse range of construction projects, encompassing various sizes, complexities, and geographical locations. By examining these cases in detail, the research aims to uncover common trends, challenges, and best practices that can inform strategies for cost overrun mitigation. The findings from the case study analysis will be presented in Chapter Four of the thesis, providing a comprehensive discussion of the factors contributing to cost overruns in construction projects. This chapter will delve into the root causes of cost overruns, including issues related to project management, procurement practices, design changes, and external factors such as economic conditions and regulatory changes. By synthesizing these findings, the research aims to offer practical recommendations for stakeholders in the construction industry to proactively address cost overrun risks. In the final chapter, Chapter Five, the research will conclude with a summary of key findings, implications for practice, and recommendations for future research. The thesis will underscore the significance of addressing cost overruns in construction projects and emphasize the importance of proactive risk management strategies to enhance project outcomes. Overall, the research project "Analysis of Cost Overruns in Construction Projects: A Case Study Approach" seeks to contribute valuable insights to the construction industry and offer actionable recommendations to mitigate the impact of cost overruns on project success.