Investigating Cost Overrun Factors in High-Rise Housing Projects in India
DOI:
https://doi.org/10.51983/tarce-2023.12.1.3666Keywords:
Cost Control, Cost Overrun Factors, Head Contractors, High-Rise Housing ProjectsAbstract
Cost overruns in building projects are typical in India. This might occur owing to a variety of factors. The aim of the study was to identify the factors impacting high-rise housing project costs in India, that are likely regulatable by head contractors. A questionnaire survey was used to perform this study with a group of related professionals from firms in the private as well as public sectors, having experience in high-rise housing projects. The frequency and impact of each factor were assessed based on the perspectives of the participants. The factors were then rated in order of the increasing Index of Relative Importance. The study identified significant factors that are likely to be regulated by head contractors, namely, productivity of labor, the performance of suppliers and sub-contractors, productivity of equipment, poor management of the site, scheduling, controlling and monitoring, inexperienced project managers, ineffective procurement planning of materials, ineffective procurement of equipment, delivery of materials (shortage or delay) and shortage of skilled labor.
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