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Project Cost Overrun

Author: Esbjörn Segelod

Publisher: Cambridge University Press

Published: 2017-11-23

Total Pages: 273

ISBN-13: 1316800199

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Cost overrun is common in public and private sector projects. Costs tend to grow, plans fail and financial problems follow, but how can we approve the right projects if we cannot estimate their true cost? This book, for academics in project management, management accounting and corporate finance, as well as for managers in the public and private sectors, offers a new way of thinking about the causes and consequences of cost overrun for firms and society. It demonstrates that there is a logic behind cost growth and overrun, identifies projects and situations that are more vulnerable, and examines the effects of increased costs. It further identifies the negative and positive consequences of cost overrun, analyses how and why preconditions for cost overrun differ when the logic governing private firms dominates versus the logic of the political sector, and explains why cost can sometimes be of lesser importance to decision makers.

Book Synopsis Project Cost Overrun by : Esbjörn Segelod

Download or read book Project Cost Overrun written by Esbjörn Segelod and published by Cambridge University Press. This book was released on 2017-11-23 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cost overrun is common in public and private sector projects. Costs tend to grow, plans fail and financial problems follow, but how can we approve the right projects if we cannot estimate their true cost? This book, for academics in project management, management accounting and corporate finance, as well as for managers in the public and private sectors, offers a new way of thinking about the causes and consequences of cost overrun for firms and society. It demonstrates that there is a logic behind cost growth and overrun, identifies projects and situations that are more vulnerable, and examines the effects of increased costs. It further identifies the negative and positive consequences of cost overrun, analyses how and why preconditions for cost overrun differ when the logic governing private firms dominates versus the logic of the political sector, and explains why cost can sometimes be of lesser importance to decision makers.

Project Cost Overrun

Author: Esbjörn Segelod

Publisher: Cambridge University Press

Published: 2017-11-23

Total Pages: 273

ISBN-13: 1107173043

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This book offers a new way of thinking about the causes and consequences of cost overrun to firms and society. It is ideal for academic researchers in project management, management accounting and corporate finance, as well as for managers in the private and public sectors.

Book Synopsis Project Cost Overrun by : Esbjörn Segelod

Download or read book Project Cost Overrun written by Esbjörn Segelod and published by Cambridge University Press. This book was released on 2017-11-23 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a new way of thinking about the causes and consequences of cost overrun to firms and society. It is ideal for academic researchers in project management, management accounting and corporate finance, as well as for managers in the private and public sectors.

Megaprojects and Risk

Author: Bent Flyvbjerg

Publisher: Cambridge University Press

Published: 2003-02-13

Total Pages: 226

ISBN-13: 9780521009461

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Megaprojects and Risk provides the first detailed examination of the phenomenon of megaprojects. It is a fascinating account of how the promoters of multi-billion dollar megaprojects systematically and self-servingly misinform parliaments, the public and the media in order to get projects approved and built. It shows, in unusual depth, how the formula for approval is an unhealthy cocktail of underestimated costs, overestimated revenues, undervalued environmental impacts and overvalued economic development effects. This results in projects that are extremely risky, but where the risk is concealed from MPs, taxpayers and investors. The authors not only explore the problems but also suggest practical solutions drawing on theory, experience and hard, scientific evidence from the several hundred projects in twenty nations and five continents that illustrate the book. Accessibly written, it will be the standard reference for students, scholars, planners, economists, auditors, politicians and interested citizens for many years to come.

Book Synopsis Megaprojects and Risk by : Bent Flyvbjerg

Download or read book Megaprojects and Risk written by Bent Flyvbjerg and published by Cambridge University Press. This book was released on 2003-02-13 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Megaprojects and Risk provides the first detailed examination of the phenomenon of megaprojects. It is a fascinating account of how the promoters of multi-billion dollar megaprojects systematically and self-servingly misinform parliaments, the public and the media in order to get projects approved and built. It shows, in unusual depth, how the formula for approval is an unhealthy cocktail of underestimated costs, overestimated revenues, undervalued environmental impacts and overvalued economic development effects. This results in projects that are extremely risky, but where the risk is concealed from MPs, taxpayers and investors. The authors not only explore the problems but also suggest practical solutions drawing on theory, experience and hard, scientific evidence from the several hundred projects in twenty nations and five continents that illustrate the book. Accessibly written, it will be the standard reference for students, scholars, planners, economists, auditors, politicians and interested citizens for many years to come.

An Analysis of Cost Overruns and Time Delays of INDOT Projects

Author: Claire Bordat

Publisher:

Published: 2004-12-15

Total Pages:

ISBN-13: 9781622602018

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Book Synopsis An Analysis of Cost Overruns and Time Delays of INDOT Projects by : Claire Bordat

Download or read book An Analysis of Cost Overruns and Time Delays of INDOT Projects written by Claire Bordat and published by . This book was released on 2004-12-15 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Proceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate

Author: K. W. Chau

Publisher: Springer

Published: 2017-12-18

Total Pages: 1558

ISBN-13: 9811061904

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This book presents the proceedings of CRIOCM_2016, 21st International Conference on Advancement of Construction Management and Real Estate, sharing the latest developments in real estate and construction management around the globe. The conference was organized by the Chinese Research Institute of Construction Management (CRIOCM) working in close collaboration with the University of Hong Kong. Written by international academics and professionals, the proceedings discuss the latest achievements, research findings and advances in frontier disciplines in the field of construction management and real estate. Covering a wide range of topics, including building information modelling, big data, geographic information systems, housing policies, management of infrastructure projects, occupational health and safety, real estate finance and economics, urban planning, and sustainability, the discussions provide valuable insights into the implementation of advanced construction project management and the real estate market in China and abroad. The book is an outstanding reference resource for academics and professionals alike.

Book Synopsis Proceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate by : K. W. Chau

Download or read book Proceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate written by K. W. Chau and published by Springer. This book was released on 2017-12-18 with total page 1558 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the proceedings of CRIOCM_2016, 21st International Conference on Advancement of Construction Management and Real Estate, sharing the latest developments in real estate and construction management around the globe. The conference was organized by the Chinese Research Institute of Construction Management (CRIOCM) working in close collaboration with the University of Hong Kong. Written by international academics and professionals, the proceedings discuss the latest achievements, research findings and advances in frontier disciplines in the field of construction management and real estate. Covering a wide range of topics, including building information modelling, big data, geographic information systems, housing policies, management of infrastructure projects, occupational health and safety, real estate finance and economics, urban planning, and sustainability, the discussions provide valuable insights into the implementation of advanced construction project management and the real estate market in China and abroad. The book is an outstanding reference resource for academics and professionals alike.

Productivity in Construction Projects

Author: Ted Trauner

Publisher: John Wiley & Sons

Published: 2022-11-01

Total Pages: 229

ISBN-13: 1119910803

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PRODUCTIVITY IN CONSTRUCTION PROJECTS From planning/design to post-construction, this valuable guide provides the construction industry the key to understanding the importance of properly tracking and measuring productivity, resulting in increased efficiency and profitability for contractors, subcontractors, owners, civil and construction engineers, and attorneys. Productivity in Construction Projects anticipates and answers the questions of owners, contractors, sub-contractors, and construction professionals to avoid cost overruns in a specific area of work, or when activities are taking more resources to perform than planned. Packed with real-world case studies, Productivity in Construction Projects’ thirteen chapters move beyond the symptoms and provide a remedy. This book provides a comprehensive look at how to: Complete more projects on time and budget, and earn greater profits and future business. Track and analyze productivity on construction projects, and quantify additional costs resulting from productivity losses. Select the right experts and attorneys should litigation or arbitration occur, and employ credible and reliable methods of analysis. Solve problems on the project instead of incurring lengthy and costly litigation or arbitration.

Book Synopsis Productivity in Construction Projects by : Ted Trauner

Download or read book Productivity in Construction Projects written by Ted Trauner and published by John Wiley & Sons. This book was released on 2022-11-01 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: PRODUCTIVITY IN CONSTRUCTION PROJECTS From planning/design to post-construction, this valuable guide provides the construction industry the key to understanding the importance of properly tracking and measuring productivity, resulting in increased efficiency and profitability for contractors, subcontractors, owners, civil and construction engineers, and attorneys. Productivity in Construction Projects anticipates and answers the questions of owners, contractors, sub-contractors, and construction professionals to avoid cost overruns in a specific area of work, or when activities are taking more resources to perform than planned. Packed with real-world case studies, Productivity in Construction Projects’ thirteen chapters move beyond the symptoms and provide a remedy. This book provides a comprehensive look at how to: Complete more projects on time and budget, and earn greater profits and future business. Track and analyze productivity on construction projects, and quantify additional costs resulting from productivity losses. Select the right experts and attorneys should litigation or arbitration occur, and employ credible and reliable methods of analysis. Solve problems on the project instead of incurring lengthy and costly litigation or arbitration.

A study investigating the factors that cause delays and cost overruns in construction projects in India

Author: Kushal Agrawal

Publisher: diplom.de

Published: 2014-02-01

Total Pages: 47

ISBN-13: 395489713X

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Anyone who has got a rework or renovation work done in their house can tell you what a troublesome activity it is. Not only that, it seems to take forever to be completed and is heavy on the wallet. Even an international icon like the Sydney Opera house, which has always been Australia’s pride, was delayed by 10 years with its budget shooting up by 14.5 times its estimated budget of $7 million. There are plenty of such examples available. It is very common for construction projects to get delayed and outrun their budget. This is a tough scenario faced by almost all projects around the world, with India not being an exception. Thus, the researcher has undertaken this research to investigate the factors responsible for delays and cost overruns. Both secondary research and primary research have been carried out and the barriers have been identified. Such barriers create problems that hinder the efficiency and progress of a project, making it lag behind its schedule. The factors identified in the secondary research are compared to the findings of the primary research to see if they hold true in the Indian context.

Book Synopsis A study investigating the factors that cause delays and cost overruns in construction projects in India by : Kushal Agrawal

Download or read book A study investigating the factors that cause delays and cost overruns in construction projects in India written by Kushal Agrawal and published by diplom.de. This book was released on 2014-02-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anyone who has got a rework or renovation work done in their house can tell you what a troublesome activity it is. Not only that, it seems to take forever to be completed and is heavy on the wallet. Even an international icon like the Sydney Opera house, which has always been Australia’s pride, was delayed by 10 years with its budget shooting up by 14.5 times its estimated budget of $7 million. There are plenty of such examples available. It is very common for construction projects to get delayed and outrun their budget. This is a tough scenario faced by almost all projects around the world, with India not being an exception. Thus, the researcher has undertaken this research to investigate the factors responsible for delays and cost overruns. Both secondary research and primary research have been carried out and the barriers have been identified. Such barriers create problems that hinder the efficiency and progress of a project, making it lag behind its schedule. The factors identified in the secondary research are compared to the findings of the primary research to see if they hold true in the Indian context.

Root Cause Analysis of Cost Overrun in Construction Projects Under Different Market Sectors

Author: Rami Sarakbi

Publisher:

Published: 2019

Total Pages: 39

ISBN-13: 9781658414050

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Abstract: A project is pronounced successful if it is finished on time within the budgeted value. Cost overruns and time overrun (delays) have been a critical problem of many projects that led to poor project execution. The construction industry has a poor reputation in terms of finishing the project within budget and on time. Although contractors and designers are one of the key players in construction projects, various other factors affect the project cost overrun depending on the main cause of change. This thesis takes the previous studies one step forward by identifying the root causes of cost overrun using real data extracted from one of the largest general contractors in California and analyzing the data to find the main causes of change orders in the top three market sectors, and the key responsible parties for each change. The analysis showed that the contract value is irrelevant to the amount of change orders. In addition, it proved that depending on the market sector, the underlying root causes for the cost overrun may vary accordingly. Furthermore, it provides legitimate data to help quantify the change impacts on project performance.

Book Synopsis Root Cause Analysis of Cost Overrun in Construction Projects Under Different Market Sectors by : Rami Sarakbi

Download or read book Root Cause Analysis of Cost Overrun in Construction Projects Under Different Market Sectors written by Rami Sarakbi and published by . This book was released on 2019 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: A project is pronounced successful if it is finished on time within the budgeted value. Cost overruns and time overrun (delays) have been a critical problem of many projects that led to poor project execution. The construction industry has a poor reputation in terms of finishing the project within budget and on time. Although contractors and designers are one of the key players in construction projects, various other factors affect the project cost overrun depending on the main cause of change. This thesis takes the previous studies one step forward by identifying the root causes of cost overrun using real data extracted from one of the largest general contractors in California and analyzing the data to find the main causes of change orders in the top three market sectors, and the key responsible parties for each change. The analysis showed that the contract value is irrelevant to the amount of change orders. In addition, it proved that depending on the market sector, the underlying root causes for the cost overrun may vary accordingly. Furthermore, it provides legitimate data to help quantify the change impacts on project performance.

Advances in Geotechnics and Structural Engineering

Author: Sanjay Kumar Shukla

Publisher: Springer Nature

Published: 2021-04-29

Total Pages: 700

ISBN-13: 9813369698

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This book comprises select proceedings of the International Conference on Trends and Recent Advances in Civil Engineering (TRACE 2020). The book focuses on the latest research developments in structural engineering, structural health monitoring, rehabilitation and retrofitting of structures, geotechnical engineering, and earthquake-resistant structures. The contents also cover the latest innovations in building repair and maintenance, and sustainable materials for rehabilitation and retrofitting. The contents of this book are useful for students, researchers, and professionals working in structural engineering and allied areas.

Book Synopsis Advances in Geotechnics and Structural Engineering by : Sanjay Kumar Shukla

Download or read book Advances in Geotechnics and Structural Engineering written by Sanjay Kumar Shukla and published by Springer Nature. This book was released on 2021-04-29 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book comprises select proceedings of the International Conference on Trends and Recent Advances in Civil Engineering (TRACE 2020). The book focuses on the latest research developments in structural engineering, structural health monitoring, rehabilitation and retrofitting of structures, geotechnical engineering, and earthquake-resistant structures. The contents also cover the latest innovations in building repair and maintenance, and sustainable materials for rehabilitation and retrofitting. The contents of this book are useful for students, researchers, and professionals working in structural engineering and allied areas.

Broken Buildings, Busted Budgets

Author: Barry B. LePatner

Publisher: University of Chicago Press

Published: 2008-09-15

Total Pages: 240

ISBN-13: 0226472701

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Across the nation, construction projects large and small—from hospitals to schools to simple home improvements—are spiraling out of control. Delays and cost overruns have come to seem “normal,” even as they drain our wallets and send our blood pressure skyrocketing. In Broken Buildings, Busted Budgets, prominent construction attorney Barry B. LePatner builds a powerful case for change in America’s sole remaining “mom and pop” industry—an industry that consumes $1.23 trillion and wastes at least $120 billion each year. With three decades of experience representing clients that include eminent architects and engineers, as well as corporations, institutions, and developers, LePatner has firsthand knowledge of the bad management, ineffective supervision, and insufficient investment in technology that plagues the risk-averse construction industry. In an engaging and direct style, he here pinpoints the issues that underlie the industry’s woes while providing practical tips for anyone in the business of building, including advice on the precise language owners should use during contract negotiations. Armed with Broken Buildings, Busted Budgets, everyone involved in the purchase or renovation of a building or any structure—from homeowners seeking to remodel to civic developers embarking on large-scale projects—has the information they need to change this antiquated industry, one project at a time. “LePatner describes what is wrong with the current system and suggests ways that architects can help—by retaking their rightful place as master builders.”—Fred A. Bernstein, Architect Magazine “Every now and then, a major construction project is completed on time and on budget. Everyone is amazed. . . . Barry LePatner thinks this exception should become the rule. . . . A swift kick to the construction industry.”—James R. Hagerty, Wall Street Journal

Book Synopsis Broken Buildings, Busted Budgets by : Barry B. LePatner

Download or read book Broken Buildings, Busted Budgets written by Barry B. LePatner and published by University of Chicago Press. This book was released on 2008-09-15 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Across the nation, construction projects large and small—from hospitals to schools to simple home improvements—are spiraling out of control. Delays and cost overruns have come to seem “normal,” even as they drain our wallets and send our blood pressure skyrocketing. In Broken Buildings, Busted Budgets, prominent construction attorney Barry B. LePatner builds a powerful case for change in America’s sole remaining “mom and pop” industry—an industry that consumes $1.23 trillion and wastes at least $120 billion each year. With three decades of experience representing clients that include eminent architects and engineers, as well as corporations, institutions, and developers, LePatner has firsthand knowledge of the bad management, ineffective supervision, and insufficient investment in technology that plagues the risk-averse construction industry. In an engaging and direct style, he here pinpoints the issues that underlie the industry’s woes while providing practical tips for anyone in the business of building, including advice on the precise language owners should use during contract negotiations. Armed with Broken Buildings, Busted Budgets, everyone involved in the purchase or renovation of a building or any structure—from homeowners seeking to remodel to civic developers embarking on large-scale projects—has the information they need to change this antiquated industry, one project at a time. “LePatner describes what is wrong with the current system and suggests ways that architects can help—by retaking their rightful place as master builders.”—Fred A. Bernstein, Architect Magazine “Every now and then, a major construction project is completed on time and on budget. Everyone is amazed. . . . Barry LePatner thinks this exception should become the rule. . . . A swift kick to the construction industry.”—James R. Hagerty, Wall Street Journal