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

Thesis Abstract

Abstract
Construction projects are often plagued by cost overruns, leading to significant financial implications and delays. The aim of this study is to analyze the factors contributing to cost overruns in construction projects, using a case study approach. The research will focus on identifying the root causes of cost overruns, exploring their impact on project outcomes, and proposing strategies to mitigate and manage cost overruns effectively. The study will begin with an introduction that provides an overview of the research background and rationale for the study. The background of the study will delve into the existing literature on cost overruns in construction projects, highlighting the prevalence and consequences of this issue. The problem statement will outline the specific challenges faced by the construction industry related to cost overruns, emphasizing the need for in-depth analysis and solutions. The objectives of the study include identifying the key factors contributing to cost overruns, evaluating their impact on project performance, and developing practical recommendations for cost overrun prevention and management. The limitations of the study will be acknowledged, including potential constraints in data collection and analysis. The scope of the study will encompass a detailed examination of cost overruns in construction projects, focusing on a specific case study to provide a comprehensive understanding of the issue. The significance of the study lies in its potential to inform industry stakeholders, project managers, and policy-makers about effective strategies for cost overrun mitigation. The structure of the thesis will be outlined, detailing the organization of chapters and the flow of content. Definitions of key terms related to cost overruns in construction projects will be provided to ensure clarity and understanding throughout the study. Chapter two will present a thorough literature review, analyzing existing research on cost overruns, project management, and risk factors in construction projects. The review will highlight common causes of cost overruns and best practices for cost management in construction. Chapter three will detail the research methodology, including the research design, data collection methods, and analysis techniques. The chapter will describe how the case study approach will be implemented to investigate cost overruns in construction projects. Chapter four will present the findings of the study, identifying the main factors contributing to cost overruns in the selected case study. The discussion will explore the implications of these findings and propose recommendations for addressing cost overruns in future projects. Chapter five will offer a conclusion and summary of the thesis, highlighting the key insights gained from the study and the implications for practice. The chapter will conclude with recommendations for future research and practical applications in the field of construction project management. Overall, this thesis aims to provide valuable insights into the complex issue of cost overruns in construction projects, offering practical recommendations for improving project outcomes and reducing financial risks.