COST OVERRUN FACTORS AND PROJECT COST RISK ASSESSMENT IN CONSTRUCTION INDUSTRY - A STATE OF THE ART REVIEW SAVITA SHARMA 1 & PRADEEP K. GOYAL 2 1 Senior Lecturer‚ Department of Civil Engineering‚ Govt. Polytechnic College‚ Ajmer‚ Rajasthan‚ India 2 Associate Professor‚ Department of Civil Engineering‚ Govt. Engineering College‚ Ajmer‚ Rajasthan‚ India ABSTRACT This paper presents a state of the art review of major and frequently occurred cost overrun factors and project cost risk assessment
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Identifying Construction Resource Factors Affecting Construction Cost: Case of Johor Aftab Hameed Memon*‚ Ismail Abdul Rahman‚ Ade Asmi Abdul Aziz‚ Kumarason V. Ravish‚ and Noor Ikmalah Mohammad Hanas Faculty of Civil and Environmental Engineering‚ Universiti Tun Hussein Onn Malaysia‚ 86400 Parit Raja‚ Batu Pahat‚ Johor‚ Malaysia *Corresponding e-mail: aftabm78@hotmail.com Abstract The success of any construction project highly depends on proper and effective management of construction resources
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TCE asserts that transactions have distinct characteristics that explain how firm’s boundaries are drawn and when determine whether “market or hierarchy” will have the lower transaction costs in various circumstances. Asset specificity‚ uncertainty and frequency are the three variables of TCE that are used to characterise transactions. Williamson (1979) suggested four main forms of asset specificity‚ namely site specificity‚ physical asset specificity‚ dedicated assets and human asset specificity
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management‚ cost planning and control is a very important tool for project management. A good cost planning is because it can help on forecasting the expenses that need to spend for the project. And cost control will minimize the wastage during execution of project. This report will emphasize the objectives‚ benefits‚ methods and other matters on construction cost planning and cost control. Cost Planning Cost planning normally will conduct in the prior stages of construction project
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Cost escalation is one of the main concerns for project managers. It is a very industry. It is a major problem in both developing and developed countries but the trend is more severe in developing countries. Large construction projects with their features of complexity and capital requirement have resulted interest to many researchers. Roachanakanan (2005) examined the causes and solution of cost escalation in Thailand and United States. He illustrated how the project cost control procedure used
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Construction Delays Causing Risks on Time and Cost - a Critical Review Chidambaram Ramanathan‚ SP Narayanan and Arazi B Idrus‚ (Universiti Teknologi Petronas‚ Malaysia) Abstract There is an increase in the number of construction projects experiencing extensive delays leading to exceeding the initial time and cost budget. This paper reviews 41 studies around the world which has surveyed the delay factors and classified them into Groups. The main purpose of this paper is to review research
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INDEPENDENT STUDY – I “Study of time and cost of labour productivity for a construction project” Submitted by: Eshani Kothari Code: PT100513 Guided by: Prof. P Akalkotkar Chairman‚ M.Tech (CEM) CEPT University M.Tech. programme in construction Engineering and Management CEPT University Ahmedabad- 380009 1 INDEX TABLE OF CONTENTS Sr no Chapter I 1.1 1.2 1.3 1.4 1.5 1.5.1 1.5.2 1.5.3 1.6 1.7 1.8 Chapter II 2.1 2.2 2.2.1 2.2.2 2.3 Chapter III 3.1 3.2 Chapter
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3 Professional Ethics and Construction 5 Professional Ethics 5 The case in Ethiopia 13 Ethical Issues 15 Construction Business and Ethics 22 References 25 Acknowledgement The group would like to take this opportunity to thank our Ethics and Legal Environment Instructor‚ Dr. Tilahun Goshu‚ who gave us the chance to explore the ethical issues in the construction industry at present time. Introduction Construction is the largest industry in the world‚ benefiting all
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The Sri-Lankan Construction Industry in the New Millennium C WEDDIKKARA Dept. of Management‚ Construction and Building Science University of Western Sydney‚ Australia d.weddikkara@uws.edu.au K. DEVAPRIYA Dept. of Building Economics University of Moratuwa‚ Sri Lanka (Research Scholar‚ University of Hong Kong) Abstract The construction investment in Sri- Lanka has followed the economic changes that took place during the last decade. This resulted in a significant change particularly in the supply
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CSR in Construction Industry CONTENT 1.0 INTRODUCTION 1.1 Corporate Social Responsibility: a Brief History 1.2 Definition of CSR 2.0 DISCUSSION AND INTEGRATION 2.1 CSR Practices and Sustainable Development in Construction Industry 2.1.1 Social 2.1.2 Economy 2.1.3 Environment 2.2 Push and Pull Factors Influencing CSR and Sustainable Development Adoption 2.3 Challenges 2.4 Conclusion PAGE 2 3 5 6 8 9 10 14 15 Module: FEM 205 Page 1 of 15 CSR in Construction Industry CSR
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