Thesis Abstract

Abstract
Cost overruns in construction projects continue to be a significant concern in the industry, leading to financial losses, delays, and disputes among project stakeholders. This thesis presents a comprehensive analysis of cost overruns in construction projects using a case study approach. The research aims to identify the causes of cost overruns, assess their impact on project outcomes, and propose strategies to mitigate and manage cost overruns effectively. Chapter One provides an introduction to the research topic, outlining the background of the study, problem statement, objectives, limitations, scope, significance, structure of the thesis, and definitions of key terms. The chapter sets the stage for the subsequent chapters by establishing the context and rationale for the study. Chapter Two consists of a detailed literature review that explores existing research on cost overruns in construction projects. The review covers ten key areas, including theories of cost estimation, factors contributing to cost overruns, impacts of cost overruns, best practices for cost management, and case studies of successful cost control strategies. This chapter provides a theoretical framework for the research and highlights gaps in the current literature that the study seeks to address. Chapter Three presents the research methodology employed in the study. The chapter outlines the research design, data collection methods, sampling techniques, data analysis procedures, and ethical considerations. The methodology section describes how the case study approach was used to investigate cost overruns in construction projects and explains the rationale behind the chosen research methods. Chapter Four presents the findings of the study based on the analysis of multiple case studies of construction projects experiencing cost overruns. The chapter examines the root causes of cost overruns, identifies common themes and patterns across the cases, and discusses the implications of the findings for cost management practices in the construction industry. The chapter also highlights successful strategies for mitigating cost overruns and improving project performance. Chapter Five concludes the thesis by summarizing the key findings, discussing their implications for practice, and offering recommendations for future research. The chapter reflects on the lessons learned from the study and emphasizes the importance of proactive cost management practices in addressing cost overruns in construction projects. The thesis contributes to the existing body of knowledge by providing valuable insights into the causes and consequences of cost overruns and proposing practical solutions for enhancing project cost control. In conclusion, this thesis sheds light on the complex issue of cost overruns in construction projects and offers a comprehensive analysis of the factors contributing to cost overruns. By adopting a case study approach, the research provides a detailed understanding of the challenges faced by project stakeholders and offers actionable recommendations for improving cost management practices in the construction industry. The findings of this study have implications for project managers, contractors, clients, and policymakers seeking to enhance project performance and minimize the financial risks associated with cost overruns.

Thesis Overview

The project titled "Analysis of Cost Overruns in Construction Projects: A Case Study Approach" aims to investigate the pervasive issue of cost overruns in construction projects. Cost overruns are a common challenge faced by construction industry professionals worldwide, leading to financial losses, delays, and disputes. This research seeks to delve into the root causes of cost overruns, analyze their impact on project outcomes, and propose effective strategies for mitigation. The construction industry is known for its complex and dynamic nature, making it susceptible to cost overruns due to various factors such as inaccurate cost estimation, scope changes, design errors, poor project management, market conditions, and unforeseen risks. Understanding these factors and their interplay is crucial for addressing cost overruns comprehensively. This project will adopt a case study approach to gain in-depth insights into specific construction projects that have experienced significant cost overruns. By examining real-world examples, the research aims to identify patterns, trends, and critical issues contributing to cost overruns. The case study methodology will allow for a detailed analysis of project documentation, cost data, schedules, and stakeholder perspectives to uncover underlying causes and implications. Moreover, the research will explore existing literature on cost overruns in construction projects to provide a comprehensive review of theories, models, and best practices in cost estimation, risk management, project control, and value engineering. By synthesizing this body of knowledge, the project aims to develop a framework for addressing cost overruns proactively and enhancing project performance. The findings of this research are expected to offer valuable insights and practical recommendations for industry practitioners, project managers, policymakers, and academics. By shedding light on the complexities of cost overruns in construction projects and proposing viable solutions, this study seeks to contribute to the ongoing efforts to improve project delivery, enhance cost control mechanisms, and foster sustainable practices in the construction industry. Overall, the project "Analysis of Cost Overruns in Construction Projects: A Case Study Approach" aspires to advance knowledge, stimulate discussions, and inspire action toward mitigating cost overruns and promoting better project outcomes in the construction sector. Through rigorous research, empirical analysis, and critical reflection, this study endeavors to make a meaningful impact on the industry and pave the way for more efficient, cost-effective, and successful construction projects.