Cost Overrun In Construction Project
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Date
2016
Authors
yahia Abdelghafour
Salah Shadid
Mohammad abu shanab
Momen mansour
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Abstract
The construction industry is considered as the back-bone of any economy in the world as it takes a relatively high percentage of the national labor workforce and its contribution in GDP is also high, also it plays a strategic role in developed and developing countries, also this industry is one of the largest in the world due to its responsibility for creating the infrastructure for cities, towns, and countries. So growth of this sector is very critical for national income; it also generates employment within the country . Every construction project has unique characteristics and constrains, but all projects have three main constrains; which are: time, cost, and quality. Cost can be described as one of the most important issues of a project success. Despite its proven significance it is common to see construction project failing to achieve its objectives within the specified cost. So project cost management represents an important issue to achieve the project objectives. And it will be covered in this research including the process required to insure that the project within the approval budget , it allow to predict the most important factors that may affect to project failure & predict direct and indirect cost . Many aspects will be covered in this research, such as, cost management process, the method of estimation and allocation cost in construction project, overrun cost reasons, results, and solutions. The methodology that will be followed to achieve the project aims will comprise qualitative data gathering through in-depth literature review and quantitative data gathering through questionnaire surveys. This study identifies and examines the factors having impact on cost overruns in the construction projects in Palestine. The objectives are To study and evaluate the factors those have a contribution to cost overruns in construction projects. To identify the main factors those have an influence on cost overruns in construction of residential projects and to examine their relative importance
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