Anatomization of Cost and Time Control Factors in Construction
Helis Joseph Prem F1, Mahalakshmi Mathivanan2
1Helis Joseph Prem F, Student, SOCE, SASTRA Deemed to be University, Thanjavur, India.
2Mahalakshmi Mathivanan*, Faculty, SOCE, SASTRA Deemed to be University, Thanjavur, India.
Manuscript received on November 15, 2019. | Revised Manuscript received on November 23, 2019. | Manuscript published on November 30, 2019. | PP: 1195-1202 | Volume-8 Issue-4, November 2019. | Retrieval Number: B2670078219/2019©BEIESP | DOI: 10.35940/ijrte.B2670.118419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The Cost escalation and Time overrun has become the common problem in various construction projects across the world which are forcing the construction firms to compromise with the quality and completion time of the building. This can possibly be reduced by concentrating on the key sectors during building construction that are most probable to cause adverse effects on the project objectives. These key sectors that spoils the objectives of projects can be found with the help of a descriptive survey drafted using the significant factors gathered from various Literatures. As a result of survey 38 factors in 7 major groups such as Owner, Consultant, Contractor, Material, Equipments, Labour, External related causes were formulated and the factors were to be assessed based on the Response Scale. These Questionnaire were then circulated among various construction parties such as Owner, Consultant, Contractor in Tamil Nadu. About 191 replies were received in which 66% of them were related Contractors, 21% were Consultants, and 13% were Owner related. The study was carried out by finding the Relative Importance Index of each factor and it was found that the influencing factors were Inadequate Fund for Project, Material Cost Inflation, Changes in Government Regulations, Unrealistic Contract Duration and Requirements imposed by Owner, Inadequate Resources for Construction. Based on the Group Importance Index the Owner group was ranked the highest which signifies that it needs to be concentrated more to reduce the adverse effects.
Keywords: Cost and Time Overrun, Construction, Tamil Nadu.
Scope of the Article: Construction Economics.