Factors influencing cost overrun in the real estate industry of developing countries Online publication date: Tue, 21-Feb-2023
by Sudarshan D. Kore; J.S. Sudarsan; Chandrakant Gokhale
International Journal of Engineering Management and Economics (IJEME), Vol. 7, No. 1, 2022
Abstract: The construction sector is one of the major contributors in a country's economic and infrastructure development. Nowadays, due to several factors influencing the cost overrun/cost escalation, it became the critical issue causing severe impact in the growth of that industry. Cost escalation is the cumulative result of a large number of factors. In this research study, an initiative was taken to find the influencing factor for cost escalation in the infrastructure projects of developing countries under these project parameters. A questionnaire survey was carried out between a construction company and data were collected. Analysis showed a comparative analysis of cost escalation trends among the various infrastructure projects. The findings of the research will indicate the main factors leading to the overruns of costs. In addition, owners and contractors can use these results in developing their work plans for future projects that have more control over costs.
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