Risk assessment of time and cost overrun factors throughout construction project lifecycle

Construction industry is a very important industry for the economic development of the country. However, this industry has been facing serious problems i.e. failure to complete projects within stipulated time and cost. Hence, the aim of this study is to assess the risk of various factors that...

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Main Author:	Ismail, Ismaaini
Format:	Thesis
Language:	English English English
Published:	2014
Subjects:	HD Industries Land use Labor HD9715-9717.5 Construction industry
Online Access:	http://eprints.uthm.edu.my/1479/1/24p%20ISMAAINI%20ISMAIL.pdf http://eprints.uthm.edu.my/1479/2/ISMAAINI%20ISMAIL%20COPYRIGHT%20DECLARATION.pdf http://eprints.uthm.edu.my/1479/3/ISMAAINI%20ISMAIL%20WATERMARK.pdf
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id	my-uthm-ep.1479
record_format	uketd_dc
spelling	my-uthm-ep.14792021-10-03T07:42:43Z Risk assessment of time and cost overrun factors throughout construction project lifecycle 2014-10 Ismail, Ismaaini HD Industries. Land use. Labor HD9715-9717.5 Construction industry Construction industry is a very important industry for the economic development of the country. However, this industry has been facing serious problems i.e. failure to complete projects within stipulated time and cost. Hence, the aim of this study is to assess the risk of various factors that cause time and cost overruns throughout the life cycle of construction projects in Malaysia. A total of 35 factors were identified from previous studies. The data collections were carried out using structured questionnaire survey. A pilot study was conducted to determine the level of occurrence and severity of each factor with respect to various phases of project life cycle. Then, the actual survey was conducted in two rounds of Delphi. Delphi round 1 was conducted to assess the probability of occurrence and level of severity of each factor in the life cycle phases. Based on the survey, construction phase was found as the phase that had significantly contributed to time and cost overrun compared to other phases. Then, Delphi round 2 was conducted to seek agreeability from respondents regarding the results obtained from the Delphi round 1. The result showed that majority of respondents had agreed with the results from Delphi round 1. This study found that there were 12 high risk factors on time overrun, namely: poor site management and supervision, incompetent subcontractors, inadequate planning and scheduling, frequent design changes, mistakes and errors in design, change in the scope of the project, delay preparation and approval of drawings, lack of coordination between parties, slow information flow between parties, lack of communication between parties, shortages of materials, and late delivery of materials and equipment. While, there were 9 high risk factors on cost overrun, namely: poor site management and supervision, incompetent subcontractors, schedule delay, inaccurate time and cost estimates, mistakes during construction, incomplete design at the time of tender, poor design and delays in design, contractual claims, such as, extension of time with cost claims, and poor financial control on site. 2014-10 Thesis http://eprints.uthm.edu.my/1479/ http://eprints.uthm.edu.my/1479/1/24p%20ISMAAINI%20ISMAIL.pdf text en public http://eprints.uthm.edu.my/1479/2/ISMAAINI%20ISMAIL%20COPYRIGHT%20DECLARATION.pdf text en staffonly http://eprints.uthm.edu.my/1479/3/ISMAAINI%20ISMAIL%20WATERMARK.pdf text en validuser mphil masters Universiti Tun Hussein Onn Malaysia Fakulti Kejuruteraan Awam dan Alam Bina
institution	Universiti Tun Hussein Onn Malaysia
collection	UTHM Institutional Repository
language	English English English
topic	HD Industries Land use Labor HD9715-9717.5 Construction industry
spellingShingle	HD Industries Land use Labor HD9715-9717.5 Construction industry Ismail, Ismaaini Risk assessment of time and cost overrun factors throughout construction project lifecycle
description	Construction industry is a very important industry for the economic development of the country. However, this industry has been facing serious problems i.e. failure to complete projects within stipulated time and cost. Hence, the aim of this study is to assess the risk of various factors that cause time and cost overruns throughout the life cycle of construction projects in Malaysia. A total of 35 factors were identified from previous studies. The data collections were carried out using structured questionnaire survey. A pilot study was conducted to determine the level of occurrence and severity of each factor with respect to various phases of project life cycle. Then, the actual survey was conducted in two rounds of Delphi. Delphi round 1 was conducted to assess the probability of occurrence and level of severity of each factor in the life cycle phases. Based on the survey, construction phase was found as the phase that had significantly contributed to time and cost overrun compared to other phases. Then, Delphi round 2 was conducted to seek agreeability from respondents regarding the results obtained from the Delphi round 1. The result showed that majority of respondents had agreed with the results from Delphi round 1. This study found that there were 12 high risk factors on time overrun, namely: poor site management and supervision, incompetent subcontractors, inadequate planning and scheduling, frequent design changes, mistakes and errors in design, change in the scope of the project, delay preparation and approval of drawings, lack of coordination between parties, slow information flow between parties, lack of communication between parties, shortages of materials, and late delivery of materials and equipment. While, there were 9 high risk factors on cost overrun, namely: poor site management and supervision, incompetent subcontractors, schedule delay, inaccurate time and cost estimates, mistakes during construction, incomplete design at the time of tender, poor design and delays in design, contractual claims, such as, extension of time with cost claims, and poor financial control on site.
format	Thesis
qualification_name	Master of Philosophy (M.Phil.)
qualification_level	Master's degree
author	Ismail, Ismaaini
author_facet	Ismail, Ismaaini
author_sort	Ismail, Ismaaini
title	Risk assessment of time and cost overrun factors throughout construction project lifecycle
title_short	Risk assessment of time and cost overrun factors throughout construction project lifecycle
title_full	Risk assessment of time and cost overrun factors throughout construction project lifecycle
title_fullStr	Risk assessment of time and cost overrun factors throughout construction project lifecycle
title_full_unstemmed	Risk assessment of time and cost overrun factors throughout construction project lifecycle
title_sort	risk assessment of time and cost overrun factors throughout construction project lifecycle
granting_institution	Universiti Tun Hussein Onn Malaysia
granting_department	Fakulti Kejuruteraan Awam dan Alam Bina
publishDate	2014
url	http://eprints.uthm.edu.my/1479/1/24p%20ISMAAINI%20ISMAIL.pdf http://eprints.uthm.edu.my/1479/2/ISMAAINI%20ISMAIL%20COPYRIGHT%20DECLARATION.pdf http://eprints.uthm.edu.my/1479/3/ISMAAINI%20ISMAIL%20WATERMARK.pdf
_version_	1747830799340666880

Risk assessment of time and cost overrun factors throughout construction project lifecycle

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