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

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.