Cost Intent In The Construction Industry

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From the beginning of the mankind construction industry is the backbone of the growing economy of the world. In Indian scenario it contributes around 7.5% of the total GDP.In construction industry time delay and cost overrun impacts negatively on the project, which indirectly affect the growing economy of the India. The problem of delays in construction industry is a global phenomenon and there is no exception. The major concern of the construction industry is to get quality outcome, which is in the hand of contractors. As a civil engineer, it’s our duty to complete the project within the time and specified budget. 1.2 AIMS • To analyze & determine the causes and effect of delay and cost overrun of the project to compute the proper solution…show more content…
Part I is related to general information for the company. The consultants were requested to answer questions pertaining to their experience in building construction and their opinions about the percentage average cost overrun in building construction projects they have experienced. Part II includes the list of the identified factors affecting cost overrun in building construction. For each factor two questions were asked: what is the degree of severity of this factor on cost overrun in building construction? And what is the frequency of occurrence for this factor? Both frequency and severity were categorized on a five-point scale as follows: very high, high, moderate, little and very…show more content…
• Yellowzone:risksinthiszoneareofmoderateimportance; ifthesethingshappen,onecancope withthemand moveon. However, if their frequency is moderate it should be reduced and if their severity is moderate, it should be controlled and reduced and a contingency plans should be in place just in case theydo. • Results and findings of theresearch • General characteristics ofrespondents • The questionnaire was sent out to a total of 30 consultants, asking their contribution in identifying the risk map for the considered 41 factors in terms of severity and frequency using an ordinal scale. A total of 26 consultants filled the questionnaire. The response rate by the consultants is87%. Figure 2 shows the distribution of the respondents according to their experience in building construction. It shows that most of respondents have experience of more than 15 years in buildingconstruction. Index value (Scale) Severity Frequency ≤ 20% very low (VL) very low (VL) 20% - 40% low (L) low (L) 40% - 60% moderate (M) moderate (M) 60% - 80% high (H) high (H) 80% - 100% very high (VH) very high

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