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Introduction to Cost Overrun in Residential Building: Its Causes and Solutions


Introduction to Cost Overrun in Residential Building: Its Causes and Solutions
Authors : Akshay Jain, Mayur Sawant, Shrikant Ghadge, Prasad Kandekar, Amirkhan Pathan, Savita Jangale
Publication Date: 09-03-2017

Authors

Author(s):  Akshay Jain, Mayur Sawant, Shrikant Ghadge, Prasad Kandekar, Amirkhan Pathan, Savita Jangale

Published in:   International Journal of Engineering Research & Technology

License:  This work is licensed under a Creative Commons Attribution 4.0 International License.

Website: www.ijert.org

Volume/Issue:   Volume. 6 - Issue. 03 , March - 2017

e-ISSN:   2278-0181

 DOI:  http://dx.doi.org/10.17577/IJERTV6IS030111

Abstract

In India the number of building construction projects is increasing however, these projects are not completed in allocated time and cost this is because of the financial condition of the country ,hence cost overrun is one of the major problems. Through this project we tried to find information on the factors that cause cost, overrun during construction and their effects on building construction projects. The important causes of cost overrun were found to be inflation or increase in the cost of construction materials, poor planning and coordination, change orders due to enhancement required by clients, excess quantity during construction. With the help of available literature we found out major causes of cost overrun. This project attempts to provide broader understanding of the frequent causes of cost overrun. The study is important as it sheds light on how construction professionals can implement cost control measures in place to avoid recurrence of these problems. The attainment of effective cost control measures for development projects is a prerequisite for the successful completion of such projects, which are vital for the country's socio-economic advancement. Questionnaire survey will be carried out in the phase of project and with the help of above study we will be able to find out major causes of cost overrun. Here, we have provided the literature review and the proposed questionnaire that will be used to obtain data from various practitioners. This data then will be used to find out the major reasons causing Cost Overruns.

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