Mitigation measures for controlling time and cost overrun factors
Achieving completion of projects on time and staying within budget are fundamental criteria of successful construction. Hence, it is vital to evaluate time and cost performance at the early stage and take corrective actions. There have been a lot of studies worldwide focusing on mitigation measures,...
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| Format: | Thesis |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://eprints.uthm.edu.my/7984/ http://eprints.uthm.edu.my/7984/1/NADZIRAH_BINTI_ROSLAN.pdf |
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| Summary: | Achieving completion of projects on time and staying within budget are fundamental
criteria of successful construction. Hence, it is vital to evaluate time and cost
performance at the early stage and take corrective actions. There have been a lot of
studies worldwide focusing on mitigation measures, but not much information has
highlighted the effectiveness of these measures. A study in Malaysia has
recommended procedures to mitigate or even recover the time and cost overrun,
where more than one measures can be applied at the same time depending on the
nature of the problem/s that cause the time and cost overrun. However, the mitigation
measures were not critically reviewed and discussed in relation to the effectiveness
since only general recommendations or suggestions were provided. Thus, this study
focused on investigating the effective mitigation measures for controlling critical
factors of time and cost overrun throughout four phases of project life cycle, i.e.,
planning phase, design phase, construction phase and finishing phase. Twelve critical
factors and the corresponding mitigation measures were recognised from literature
review, which were categorized into the four phases of project life cycle. Two rounds
of Delphi survey were applied to achieve consensus among the respondents. The
effectiveness level of the mitigation measures were determined by Average Index.
The findings of this study show that the most effective mitigation measures for
controlling time overrun was through implementation of realistic planning and
scheduling of the project, while for cost overrun was development of a
comprehensive financial plan and cash flow. The mitigation measures for controlling
time and cost overrun in accordance to the phases of project life cycle were
successfully investigated their effectiveness for potential application by the
construction practitioners in the Malaysian construction industry. |
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