Abstract
A construction project involving Public capital normally goes through serious problems and challenges of cost overrun. This issue if addressed at pre-construction planning phase can reduce various problems of budget overrun. Objectives: The aim of this research study is to explore the most critical factors of cost overrun in construction projects of Pakistan during Pre-Construction Planning (PCP) phase. Methods/Statistical Analysis: A structured questionnaire was designed for data collection. A total of 110 questionnaires were distributed among construction firms located in Pakistan which were analyzed statistically to determine significant factors. Statistical Package for the Social Sciences (SPSS) version 24.0 was used to find out the critical factor of cost overrun in construction project of Pakistan during PCP phase through relative importance index method. Findings:The research concludes that top most critical factor of cost overrun during PCP phase of construction projects are, wrong or improper design, inaccurate estimation, variation in scope of work, poor resource management and change of orders. Application/Improvements: This research is a step towards reduction of cost overrun issues in construction projects. Keywords: Cost overrun, Construction Project, Importance Index (RII), Pakistan, Pre-Construction Planning (PCP) Relative
Highlights
Construction is among one of the most emerging businesses in the world specially developing countries[1]
To develop operational factors from the semi-structured interviews, each factor was presented to experienced practitioners to find out cost overrun factors related to the Pre-Construction Planning (PCP) stage in construction projects of Pakistan
The identified factors were presented to the stakeholders for determining the critical factors of cost overrun in PCP stage
Summary
Construction is among one of the most emerging businesses in the world specially developing countries[1]. It acts as driving force for several other sectors for the boost of economy requires an immense investment. Every major sector like education, transportation, mining, logistics, insurance, consultation, and management is inscribed with construction[2]. Management and quality assurance of this sector is of key importance. Slight delays in these projects may impacts in significant economic loss. These delays are very ubiquitous in this industry in developing countries. Profitable projects are converted in money loosing schemes because of these delays, which Is undesirable for contractor as well as for the owner
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