Time and cost performance of construction projects in Southern and Central Regions of Peninsular Malaysia
Time and cost performance is the fundamental criteria for success of any project. Unfortunately construction industry in Malaysia has been regarded as industry facing poor performance leading to failure in achieving effective time and cost performance. As a consequence most of the projects face huge...
Saved in:
| Main Authors: | , , , , |
|---|---|
| Format: | Conference or Workshop Item |
| Published: |
2012
|
| Subjects: | |
| Online Access: | http://eprints.uthm.edu.my/3472/ http://eprints.uthm.edu.my/3472/1/p52%2Dabdul_rahman.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | Time and cost performance is the fundamental criteria
for success of any project. Unfortunately construction industry in
Malaysia has been regarded as industry facing poor performance
leading to failure in achieving effective time and cost
performance. As a consequence most of the projects face huge
amount of time and cost overrun. This study assessed the time
and cost performance of construction projects in Malaysia using
structured questionnaire survey. The findings of study revealed
that 92% of construction projects were overrun and only 8% of
project could achieve completion within contract duration. The
amount of time overrun was in between 5-10% as agreed by
respondents. In terms of cost performance only 11% of
respondents mentioned that normally their projects are finished
within the budgeted cost while 89% of respondents agreed that
their projects were facing the problem of cost overrun with
average overrun at 5-10% of contract price. The major
contributors of this poor performance include design and
documentation issues, financial resource management and
project management and contract administration issues. Further,
qualitative study was carried out using semi-structured
interviews with the experience personnel involving in managing
construction project which resulted in developing 13 mitigation
measure to improve time performance and 15 mitigation measure
to improve cost performance in construction project. This study
will help the practitioners to implement the mitigation measure
at planning stage in order to achieve successful construction
projects. |
|---|