Project Cost Overrun

Cost overruns has been a major issue in many Indian construction projects. The successful execution of construction projects and keeping them within prescribed schedule and cost is very important for effective cost performance. This research work is carried out on studying significant factors causing Cost overruns in Indian construction projects. A valid questionnaire for the survey was developed based on factors for cost overruns identified from literature review Most of the construction project is successful only if the missions are achieved as per planned schedule and minimum cost i.e. without time and cost overrun. The main purpose of research which has categorized the causes responsible for time and cost overruns in projects. Investigation was carried out with quantitative approach of questionnaire survey to understand the perception of practitioners involved in construction industry towards various factors in causing time and cost overrun. A valid questionnaire for the survey was developed based on factors for cost overruns identified from literature review. The targeted respondents were client, contractor, owner and consultant representative involved in handling construction projects. The most critical factors are identified using questionnaire survey and analyzed the interrelationship and frequency of those factors using SPSS (Statistical Package for Social Sciences) Software Version 20. The study will helps to identify the critical factors for cost overrun and can find out the solutions and recommendations which can be considered to control those factors.