Analysis of Cost Overrun Factors in Construction Projects: A Case Study of Residential Buildings

Thesis Abstract

**Abstract
** Cost overruns remain a prevalent issue in the construction industry, leading to financial challenges and project delays. This thesis presents an in-depth analysis of the factors contributing to cost overruns in construction projects, focusing on residential buildings. The study aims to identify, analyze, and provide insights into the root causes of cost overruns in this specific sector, thereby offering recommendations for effective cost management practices. The research methodology adopted a comprehensive literature review approach to identify existing theories, models, and case studies related to cost overruns in construction projects. Subsequently, primary data was collected through surveys and interviews with industry professionals, project managers, and quantity surveyors involved in residential construction projects. Chapter 1 introduces the study, providing background information on cost overruns in construction projects, stating the problem statement, objectives, limitations, scope, significance, structure of the thesis, and definitions of key terms. Chapter 2 presents a detailed literature review on ten key factors contributing to cost overruns, including inaccurate cost estimation, scope changes, poor project management, unforeseen site conditions, and inadequate risk management. Chapter 3 outlines the research methodology employed, encompassing research design, data collection methods, sample selection, data analysis techniques, and ethical considerations. The chapter delves into the process of data collection, including survey questionnaires, interviews, and data analysis tools. Chapter 4 presents a comprehensive discussion of the findings, highlighting the key factors identified as significant contributors to cost overruns in residential construction projects. The chapter explores the interplay between these factors and their impact on project costs, timelines, and overall project success. The study concludes in Chapter 5 with a summary of key findings, implications for practice, theoretical contributions, and recommendations for future research. The conclusion emphasizes the importance of proactive cost management strategies, effective risk assessment, stakeholder collaboration, and continuous monitoring to mitigate cost overruns in construction projects. In conclusion, this thesis provides valuable insights into the complex dynamics of cost overruns in residential construction projects, offering practical recommendations for industry practitioners, project managers, and policymakers to enhance cost control practices and improve project outcomes.