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Cost and time overruns in commercial construction projects : an Australian study

Zuo, Jian, Jin, Xiao-Hua and Newell, Timothy 2011, Cost and time overruns in commercial construction projects : an Australian study, in CITC-VI 2011 : Proceedings of the Sixth International Conference on Construction in the 21st Century : Construction Challenges in the New Decade, CITC-VI, Greenville, N.C., pp. 169-176.

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Title Cost and time overruns in commercial construction projects : an Australian study
Author(s) Zuo, Jian
Jin, Xiao-Hua
Newell, Timothy
Conference name International Conference on Construction in the 21st Century (6th : 2011 : Kuala Lumpur, Malaysia)
Conference location Kuala Lumpur, Malaysia
Conference dates 5-7 July 2011
Title of proceedings CITC-VI 2011 : Proceedings of the Sixth International Conference on Construction in the 21st Century : Construction Challenges in the New Decade
Editor(s) Ahmed, Syed M.
Adnan, Hamimah
Panthi, Kamalesh
Azhar, Salman
Takim, Roshana
Bozai, Gazan
Publication date 2011
Conference series International Conference on Construction in the 21st Century
Start page 169
End page 176
Total pages 8
Publisher CITC-VI
Place of publication Greenville, N.C.
Keyword(s) cost overruns
delays
commercial construction projects
Summary Cost and schedule are two of most important performance indicators of construction projects. Cost escalation and time overruns are typically associated with poor management practices. Cost overruns and delays have huge impacts on construction projects in relation to the costs of a project, the reputation of the parties involved, and the satisfaction of the final product. Therefore, it is imperative to understand the causes of cost and time overruns so that mitigation measures can be set in place. A group of industry professionals in South Australia were surveyed on their perceptions of the factors contributing towards the cost and time overruns in commercial construction projects. The results showed that timeliness of decision making is ranked as the top factor contributing towards delays whereas problems with design is perceived as most influential to the cost overruns. In addition, the questionnaire survey found that different parties, i.e. clients, contractors and consultants have different perceptions on the impacts of these factors. Similarly, the structural frame stage was considered the most critical stage for controlling the time and cost performance during the construction process. Implications are discussed.
ISBN 1884342025
Language eng
Field of Research 120201 Building Construction Management and Project Planning
Socio Economic Objective 910402 Management
HERDC Research category E1 Full written paper - refereed
HERDC collection year 2011
Copyright notice ©2011, by CITC-VI, Greenville, North Carolina, USA.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30045477

Document type: Conference Paper
Collection: School of Architecture and Built Environment
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