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

Thesis Abstract

Abstract
This thesis explores the critical issue of cost overruns in construction projects from the perspective of Quantity Surveying. The research takes a case study approach to investigate the factors contributing to cost overruns and their implications on project outcomes. The study aims to identify the root causes of cost overruns, examine the impact on project performance, and propose strategies to mitigate and manage cost overruns effectively. The research methodology involves a comprehensive literature review to establish a theoretical framework for analyzing cost overruns in construction projects. This is followed by a detailed examination of ten key factors that have been identified as common causes of cost overruns in the construction industry. The factors include inadequate project planning, scope changes, design errors, poor communication, procurement issues, contractor-related problems, unexpected site conditions, poor risk management, inaccurate cost estimation, and inadequate project monitoring and control. Through a combination of quantitative and qualitative research methods, including surveys, interviews, and case studies, the study gathers data from multiple construction projects to analyze the impact of these factors on project cost overruns. The research methodology also includes the development of a cost overrun prediction model based on historical project data and regression analysis. The findings of the study reveal that cost overruns are a prevalent issue in construction projects, with multiple factors contributing to their occurrence. The analysis highlights the significant impact of inadequate project planning, scope changes, and design errors on cost overruns, emphasizing the importance of early-stage project management and effective communication. Based on the research findings, the thesis provides recommendations for improving project planning, enhancing risk management practices, strengthening communication among project stakeholders, and implementing robust project monitoring and control mechanisms to prevent and mitigate cost overruns in construction projects. The study concludes with a summary of key findings, implications for practice, and suggestions for future research in the area of cost overruns in construction projects. Overall, this thesis contributes to the existing body of knowledge in Quantity Surveying by providing valuable insights into the causes and consequences of cost overruns in construction projects and offering practical recommendations for industry practitioners to address this critical issue effectively.