ipl-logo

Essay On Cost Overruns In Construction

820 Words4 Pages

A THEORETICAL REVIEW ON THE FACTORS CAUSING COST OVERRUN IN CONSTRUCTION PROJECTS IN MALAYSIA Abstract This study examines previous literature on construction projects cost with the specific aim of determining the frequently observed causes of cost overruns in construction projects. Cost overrun is one of the major problems in construction projects. Cost overrun is frequently observed in almost every construction projects. This cost overrun in construction projects occurs due to various reasons and many researchers have carried out various studies to identify the cause factors of this issue. The causes of construction cost overrun could vary from country to country because of the difference in political, economic, social and environmental conditions. Likewise, other countries construction projects in Malaysia have also the issue of cost overrun. The concept of construction projects cost overrun has attracted much attention in recent years and that researches are trying to understand the causes of these overruns and their effects to the construction industry as whole. This paper review various research studies carried out in …show more content…

Cost is among the major considerations throughout the project management life cycle and can be consider as one of the most important parameters of a project and the driving force of project success. Despite the proven importance of cost it is not hard to see a construction project achieving its objectives within the anticipated cost. Cost overrun is a very frequently observed phenomenon and is almost associated with nearly all construction projects. The issue of cost overrun is more severe in developing countries where these overruns sometimes exceed 100% of the estimated cost of the project (Azhar, N., Farooqui, R. U. and Ahmed, S. M.,

Show More
Related

  • Construction Scheduling Case Study

    549 Words  | 3 Pages

    I am making this appeal in response to the sanction that is imposed on me in reference to the case #3788. The hearing panel found me guilty on the charge of complicity in the course of construction scheduling COSC 603:299 and awarded me a grade of F* in the course COSC 603:699 Construction Scheduling for which I was enrolled in Spring 2015 semester. The basis of my appeal is that the sanction on me is not commensurate to the violation. I would like to provide the following rationale for my defense.

    Read More

  • Zombie Apocalypse Research Paper

    722 Words  | 3 Pages

    As a fan of zombie movies, you can probably guess that The Walking Dead is one of my favorite shows. If you’ve never watched it before, it’s a series that follows a group of survivors that try to adapt in a world overrun by zombies. Now I’m going to let me tell you in on a secret – don’t get attached to any of the main characters, because they probably will die. It’s the unfortunate reality for any zombie themed show or movie. Although your firm isn’t facing a zombie apocalypse, they do face several threats that can affect profit margins on fixed fee projects.

    Read More

  • Construction Union Benefits Essay

    1199 Words  | 5 Pages

    The Union Advantage to a Contractor In the scenario presented today, a union uses Section 8(f) of the National Labor Relations Act to convince a contractor to become a signatory. Construction unions are allowed to sign legally binding contracts with employers without having to demonstrate the support of a majority of workers (Miller & Miller, 2005) (week 4). It is important for the construction union to present three benefits explaining the advantages and opportunities a contractor can gain by becoming a union member.

    Read More

  • Pmbok Iron Triangle Theory

    1215 Words  | 5 Pages

    3. Decision opportunity cost. 4. Project schedule cost. 5.

    Read More

  • Construction Management Case Study

    1286 Words  | 6 Pages

    Furthermore, the consequences of ineffective management by the construction manager will also directly affect the client, should delay or claims for additional payments to trade contractors occur as a result. Accordingly, the client must be sufficiently disciplined and resourced to provide its inputs into the project as required by the agreed information release schedules. They must also ensure that they appoint a construction manager with the appropriate resources and experience and a positive approach – a task that is challenging for many clients, whether experienced or not. Advantages and disadvantages of CM Construction management stands at the top end of the scale with respect to a client’s risk exposure but potentially offers substantial advantages.

    Read More

  • Capstone Project Case Study

    1029 Words  | 5 Pages

    The project can seem relatively straight forward but can easily have problem arise that need to be dealt with. One problem that could arise is the increase in the cost of steel. Steel is a component of reinforces concrete. Steel rising is always a possible because of it quality of being a super hard metal. If you budget is set than project manager will need to seek additional funding or figure out how to cut funding in other area.

    Read More

  • Case Study: BUILD Facilities

    283 Words  | 2 Pages

    Describe the auspices of your agency (i.e. public, private-non-profit, proprietary, etc.) BUILD is a non-for profit 401c3 agency that consist of many high impact programs to help improve the lives of the at risk youth in the communities it serves. All funds that are donated or earned at BUILD is used to successfully pursue the organizations mission.

    Read More

  • Sick Building Syndrome Essay

    1469 Words  | 6 Pages

    1.1.INTRODUCTION 1.1 Background of study Sick building syndrome (SBS) is a phenomenon where people experience ill health symptom that occur in a building. The symptom of sick building symptom can be divided into mucous membrane symptoms related to eyes, nose and throat; dry skin; general symptoms of headache and lethargy (Brian & Nancy, 2010). SBS can give a big impact to human daily life and influence their life quality and work performances.

    Read More

  • Essay On Project Management

    1440 Words  | 6 Pages

    Each year billions of dollars waste in project are been reported as a result of IT projects failure whereby a project might have failed for at least one of the measures of project success, indicating that it is imperative to enhance the manner in which projects are been managed. Contemporary IT project managers need to understand that all projects have some degree of successes and failures, which can be used as an opportunity for organizations to learn and continue develop from these experiences no matter the level of success or failure. Therefore, organizational learning and constant improvement from past experiences may be considered to be the secret to successful project management. In addition, this technique of organizational learning

    Read More

  • West Build Project Planning Essay

    214 Words  | 1 Pages

    This report presents the details of the new project planning approach at WestBuild. The motivation for this project is the need to improve the approach of project planning for WestBuild to reduce implement project cost, time, and resource, including set the standard of work easier. It is transferred from old approach to new approach that new approach is the using the project planning software solution (reliability, quality, saving, and easy to use) what was developed from principle and theory of project management by developers with the expertise. The target group of the project is the 200 project teams who are working staff on the planning and implementation of various projects at WestBuild.

    Read More

  • Integrated Risk Management Essay

    1368 Words  | 6 Pages

    Introduction: With the development , a great number of construction projects are undergoing and yet a lot more are to come. Accompanying

    Read More

  • Sick Building Syndrome Essay

    1161 Words  | 5 Pages

    The term Sick building syndrome (SBS) was named in 1986 by the World Health Organization (WHO). SBS is also known as "building-related symptoms", “building-illnesses” is a medical condition where people in a building suffer from symptoms of illness or feel unwell for no apparent reason (World Health Organization. n.d.). The main objective of this essay is to determine the association between indoor environmental quality and symptoms of SBS. Data were collected through multifactorial previous studies that included work environment, and symptoms related to SBS.

    Read More

  • Project Cost Management Essay

    854 Words  | 4 Pages

    Project Cost management is an important key factor which is involved in multi-parts of projects such as planning, budgeting, and controlling so that the project can be finished and completed within the approved budget. The article “Project Cost Management “ which is written by Joseph Phillips shows the cost and how it play role in any projects, then describing the real estimation and its characteristics of the good estimation “no secretes“ to stakeholders at all, then the author describes the most three important types of estimates should be used in any projects such as Ballpark, Budget, and Definitive estimates. After that the author detailed more on the idea of Work Breakdown Structure (WBS). After that the author indicates the result of

    Read More

  • Project Management: Success Or Failure?

    1010 Words  | 5 Pages

    Projects are different from programs. Projects are defined as endeavors that are taken in order to create specified results. Programs are ones that have ongoing process or are activities that are used to manage multiple projects together (Trelles-Duckett, n.d.). Projects have a timeframe in which they must be completed. In order to complete a project there must be a project management plan in place.

    Read More

  • Cost Risk Benefit Analysis Essay

    764 Words  | 4 Pages

    Millions of people suffer from clinical depression, there are a range of ways you can naturally boost your mood and help overcome depression. Many of which are just as effective as drugs but are safer and without side-effects. There is enough data from clinical studies to support their use, especially from a “cost/risk – benefit” analysis. While some of the methods have not been comprehensively proven according to the standards of Western science, there is evidence of their effectiveness As depression researcher David Antonuccio points out, “whether one subscribes to the Hippocratic dictum ‘first do no harm’ or takes a cost-benefit approach to treatment, it is impossible to ignore the fact that antidepressants are not medically benign treatments.

    Read More

More about Essay On Cost Overruns In Construction

Open Document