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MODELLING OF COST OVERRUNS IN BUILDING PROJECTS
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- Contributor: mr-chris
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- Case No: 802581ip
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ABSRACT - [ Total Page(s): 1 ]Construction of building projects is an endeavour that involves capital expenditure, which is either borrowed or self-financed by clients. The expected outcome of such expenditure is value for money, which is usually dictated by project objectives of cost, time and quality. Project cost, as a project objective, is a crucial determinant of project success in the prevailing economic challenges being experienced globally. Construction cost overrun has become a reoccurring phenomenon in the delivery of building projects. The major thrust of this study was to identify, analyse and model the factors
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CHAPTER ONE - [ Total Page(s): 1 ]CHAPTER ONEINTRODUCTIONGlobally, the construction sector is inundated with cost overruns in the delivery of building projects. This experience has brought about loss of clients’ confidence in consultants, added investment risks, lack of ability to deliver value to clients, and disinvestment in the construction industry (Mbachu and Nkado, 2004).It is of essence that the objectives of a building contract are met to the contentment of the parties involved. Cost, time and quality are significant, interrelated and interdependent targets for achieving the objectives/goals expe ... Continue Reading
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ABSRACT - [ Total Page(s): 1 ]Construction of building projects is an endeavour that involves capital expenditure, which is either borrowed or self-financed by clients. The expected outcome of such expenditure is value for money, which is usually dictated by project objectives of cost, time and quality. Project cost, as a project objective, is a crucial determinant of project success in the prevailing economic challenges being experienced globally. Construction cost overrun has become a reoccurring phenomenon in the delivery of building projects. The major thrust of this study was to identify, analyse and model the factors
... Continue Reading
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