Analysis of Cost Overruns in Construction Projects: A Case Study of Residential Buildings in Urban Areas

Thesis Abstract

Abstract
The construction industry is known for its complexity and challenges, with cost overruns being a common issue that can significantly affect project outcomes. This thesis aims to analyze the factors contributing to cost overruns in construction projects, focusing specifically on residential buildings in urban areas. The research employs a case study approach to investigate the root causes of cost overruns and explore potential solutions to mitigate their impact. The introductory chapter provides an overview of the research topic, highlighting the background of the study, problem statement, objectives, limitations, scope, significance, structure of the thesis, and key definitions. The literature review chapter reviews existing studies on cost overruns in construction projects, identifying key themes and gaps in the current knowledge base. The research methodology chapter outlines the approach taken in this study, including the research design, data collection methods, sampling strategy, data analysis techniques, and ethical considerations. The chapter also discusses the limitations of the research methodology and potential areas for future research. The findings chapter presents a detailed analysis of the data collected from the case study on residential buildings in urban areas. The discussion explores the main factors contributing to cost overruns, including design changes, material price fluctuations, labor shortages, and project delays. The chapter also examines the implications of these findings for construction project management and offers recommendations for improving cost estimation and control. In the conclusion and summary chapter, the key findings of the research are synthesized, and the implications for practice and future research are discussed. The thesis concludes with a reflection on the significance of the study in advancing our understanding of cost overruns in construction projects and suggests areas for further investigation. Overall, this thesis contributes to the body of knowledge on cost overruns in construction projects, providing valuable insights for practitioners, policymakers, and researchers seeking to address this persistent challenge in the construction industry.