| Abstrakt: |
Cost overruns are a common issue in the construction industry of developing countries particularly Pakistan. Construction industry of Pakistan is playing important role for development and economic growth of Pakistan. Comprehensive understanding is required to overcome this cost overrun problem. The objective of this study is to identify the critical cost overrun factors in construction industry of Pakistan. To accomplish this objective, a detailed literature review was carried initially, which resulted in identifying 49 common cost overrun factors in the construction sector. Second, a structured questionnaire with a 5-point likert scale was designed and disseminated to 33 highly experienced stakeholders in Pakistan's construction industry to obtain opinion on critical cost overrun factors. Data was collected and analysed using mean score analysis. Based on mean scores critical cost overrun factors are schedule delay, financial difficulties faced by contractor, fluctuation in price of materials, poor site management, poor contract management, inadequate planning, fraudulent practices and kickbacks, frequent design changes, change in scope of project. This study convey a better understanding of critical cost overrun factors to stake holders of construction Industry of Pakistan in order to mitigate the cost overrun. [ABSTRACT FROM AUTHOR] |
