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

Thesis Abstract

Abstract
Cost overruns in construction projects are a prevalent issue that affects the successful completion of projects, leading to financial losses and delays. This thesis presents an in-depth analysis of cost overruns in construction projects, focusing on residential buildings in urban areas. The research employs a case study approach to investigate the factors contributing to cost overruns and explores potential solutions to mitigate these challenges. Chapter 1 provides an introduction to the research, outlining the background, problem statement, objectives, limitations, scope, significance, structure of the thesis, and definition of key terms. The study aims to identify the root causes of cost overruns in residential construction projects and propose effective measures to address them. Chapter 2 presents a comprehensive literature review on cost overruns in construction projects. It covers ten key aspects related to cost estimation, project management, risk assessment, procurement methods, and stakeholder management. The review synthesizes existing knowledge and identifies gaps in the literature that the current research seeks to address. Chapter 3 details the research methodology employed in this study. It includes the research design, data collection methods, sample selection, data analysis techniques, and ethical considerations. The methodology aims to provide a robust framework for collecting and analyzing data to achieve the research objectives effectively. Chapter 4 presents a detailed discussion of the findings from the case study analysis of residential buildings in urban areas. The chapter explores the main factors contributing to cost overruns, such as inaccurate cost estimation, scope changes, poor project management, and external influences. It also discusses potential strategies and best practices to minimize cost overruns and enhance project performance. Chapter 5 offers a conclusion and summary of the research findings. The chapter highlights the key insights gained from the study and their implications for the construction industry. It also provides recommendations for practitioners, policymakers, and future research directions to address the challenges of cost overruns in construction projects effectively. In conclusion, this thesis contributes to the body of knowledge on cost overruns in construction projects, particularly in the context of residential buildings in urban areas. By identifying the root causes of cost overruns and proposing practical solutions, the research aims to improve project outcomes and promote sustainable development in the construction sector.