A CRITICAL STUDY ON COST ESCALATION IN CONSTRUCTION INDUSTRY

Authors

  • S.Kanchana Associate Professor, Civil Engineering, RVS Technical Campus - Coimbatore, India
  • Anumol Sukumaran PG Student, Civil Engineering, RVS Technical Campus - Coimbatore, India

DOI:

https://doi.org/10.29121/ijetmr.v5.i2.2018.163

Keywords:

Cost Overrun, Managerial Skills, Labour Cost, Material Cost, Contractor Performance

Abstract

Cost escalation refers to the changes occurring in cost of specific materials services in a given economy over a period of time. Construction industry is a most complicated and dynamic industry which is constantly facing uncertainties. The various factors that cause escalation in construction industry are studied and discussed in the article. The ideas suggested by researches were also analyzed and reported cost escalation can be minimized to a greater extent by carefully adopting the remedial measure.

Downloads

Download data is not yet available.

References

Osama E. K. Daoud and Omar M. Azzam, Sources of Disputes in Construction Contracts in the Middle East, Technology, Law and Insurance, 4(1-2), 1999, 87-93. DOI: https://doi.org/10.1080/135993799349171

Knight K and Fayak A R, A preliminary study of the factors affecting cost escalation of construction projects, Canadian Journal of Civil Engineering, 27(1), 2000, 73-83. DOI: https://doi.org/10.1139/l99-057

Dawood.N.N, Yasuhara.T, Usuda.Y, Matsuda.C and Sawada.A, Analysis of cost escalation and risk assessment of infrastructure projects: an application in Japanese civil engineering projects. In: Akintoye, A (Ed.), 17th Annual ARCOM Conference, University of Salford. Association of Researchers in Construction Management, 1, 2001, 835-44.

Hong Xiao, David Proverbs, Factors Influencing Contractor Performance: An International Investigation", Engineering, Construction and Architectural Management, 10(5), 2003, 322-332. DOI: https://doi.org/10.1108/09699980310502937

Bent Flyvbjerg, What Causes Cost Overrun in Transport Infrastructure Projects?, Transport Reviews, 24(1), 2004, 3-18. DOI: https://doi.org/10.1080/0144164032000080494a

Adnan Enshassi, Jomah A Najjar, Mohan Kumaraswamy, Delays and cost overruns in the construction projects in the Gaza Strip, Journal of Financial Management of Property and Construction, 14(2), 2009, 126-151. DOI: https://doi.org/10.1108/13664380910977592

Ade Asmi Abdul Azis, Aftab Hameed Memon, Ismail Abdul Rahman and Ahmad Tarmizi Abd, Controlling Cost Overrun Factors in Construction Projects in Malaysia, Research Journal of Applied Sciences, Engineering and Technology, 5(8), 2013, 2621-2629. DOI: https://doi.org/10.19026/rjaset.5.4706

Yakubu Adisa Olawale and Ming Sun, Cost and time control of construction projects: inhibiting factors and mitigating measures in practice, ConstructionManagement and Economics, 28(5), 2010, 509-526. DOI: https://doi.org/10.1080/01446191003674519

Rahimah Mohamed Yunos, Che Faridah Che Mahmood, Nor Hafizah Abd Mansora, Understanding Mechanisms to Promote Halal Industry - The Stackholders’ Views, Procedia - Social and Behavioral Sciences, 130, 2014, 160 – 166. DOI: https://doi.org/10.1016/j.sbspro.2014.04.020

B.S. Patil , P.B. Ullagaddi, D.G. Jugati, Factors affecting the cost and quality of construction, International Referred Research Journal, 2, 2011, 1-3.

Mahamid I, Common risks affecting time overrun in road construction projects in Palestine: Contractors’ perspective’, Australasian Journal of Construction Economics and Building, 13(2), 2013, 45-53. DOI: https://doi.org/10.5130/AJCEB.v13i2.3194

Abdullah Alhomidan, Factors Affecting Cost Overrun in Road Construction Projects in Saudi Arabia, Journal of Management in Engineering, 32(1), 2013.

Downloads

Published

2018-02-28

How to Cite

Kanchana, S., & Sukumaran, A. (2018). A CRITICAL STUDY ON COST ESCALATION IN CONSTRUCTION INDUSTRY. International Journal of Engineering Technologies and Management Research, 5(2), 194–197. https://doi.org/10.29121/ijetmr.v5.i2.2018.163