Factors Causing Project Cost Overrun In Construction Project In Case Of Rama Construction Plc

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Construction projects routinely overrun their cost estimates. Many studies have thus beenrndedicated to investigate the root cause. The purpose of this study is to identify factors causingrnconstruction project cost overrun in RAMA Construction PLC. The study used a descriptivernsurvey type for the assessment. It deploys both quantitative and qualitative research method torncollect both primary and secondary sources of data. Both close ended and open ended questionsrnwere included on the questionnaire. The interview was unstructured. The secondary source ofrndata was from different journals, study, books, and also from the internet and from these a totalrnof 43 factors were identify which exists in the planning, design and construction phase ofrnconstruction projects. The sampling technique was non-probability sampling technique, inrnparticular purposive sampling. A total of 50 respondents were chosen and from the distributedrnquestionnaire 43 were collected and 3 employees were interviewed. The data obtained from thernquestionnaire were later analyzed based on their frequency, severity and importance by usingrnSPSS Version 20. The findings from the analysis were ranked based on their importance index itrnshows the Currency exchange, Underestimating time requirement, Frequent design change,rnEconomic instability and Number of projects going at the same time are the top five factorsrncausing the project cost overrun. In addition poor project risk management, poor financialrncontrol on site was found with highest frequency and severity index. As a result, thernrecommendation was provided so that the company could minimize the construction project costrnform overrun.

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Factors Causing Project Cost Overrun In Construction Project In Case Of Rama Construction Plc

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