Analysis of Cost Overruns in Construction Projects: A Case Study Approach

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.