Review on Uncertainties Causing Time and Cost Overrun in Construction Projects

• Main Authors: B. Idrus, Arazi, Sambu Potty, Narayanan, C.T, Ramanathan
• Format: Other
• Published: WASET 2011
• Subjects: TA Engineering (General). Civil engineering (General)
• Online Access: http://eprints.utp.edu.my/6733/1/waset_thailand_rama.pdf; http://eprints.utp.edu.my/6733/
• Institution: Universiti Teknologi Petronas

In order to plan and manage a successful project, the three parameters of time, cost and quality should be considered. The clients in the construction industry are primarily concerned with quality, time and cost. But majority of construction projects are procured on the basis of only two constraints time and cost. In construction projects not only is on-time delivery important, it also translates directly into whether the contractor will meet the client requirement, quality and provide a return on investment. Delivering a project on time does not occur by hoping that the required completion date will be met. Attempting to solve the unforeseen issues during a project without a plan in place to determine the immediate impact is a major risk which can often lead to delayed projects. The purpose of this review is to explore how time and cost management on construction projects are perceived in various research works. In order to examine the uncertainty of cost and time in effective management of project, the opinions of clients, architects, quantity surveyors, project managers, consulting engineers and contractors are obtained by means of questionnaire survey. Different studies has drawn different conclusions and recommendations with respect to perception of time and cost in construction projects.