International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 09 Issue: 05 | May 2022
p-ISSN: 2395-0072
www.irjet.net
IDENTIFICATION OF FACTORS CAUSING TIME AND COST OVERRUN IN CONSTRUCTION PROJECTS IN INDIA Anupam Khedkar1, Dr. Shrikant M. Harle2 M.E. Student, Department of Civil Engineering, Prof Ram Meghe College of Engineering and Management, Bandera, 2Assistant Professor, Department of Civil Engineering, Prof Ram Meghe College of Engineering and Management, Bandera ------------------------------------------------------------------------***----------------------------------------------------------------------Abstract: This study focuses on identifying and ranking the numerous elements that contribute to time and expense 1
overruns in building projects. The main goal of this thesis was to use the literature to determine the numerous elements that cause time and expense overruns in construction projects and to create a questionnaire based on these factors. The detected criteria are listed in this questionnaire, along with a likert scale to indicate their importance. The survey was sent to several project stakeholders, including engineers, contractors, project managers, builders, and supervisors, who were asked to mark the criteria on the scale according to their comprehension. Relative Important Index analysis is used to determine the components and their effects on time and cost overrun. Data was gathered by using a Google form to conduct a survey; responses from experienced and highly qualified individuals were gathered to determine the importance of the supplied parameters using the Likert scale. The criteria were rated according to their impact on cost and time after thorough analysis of the data gathered from the respondents.
INTRODUCTION: The outcome of development projects is reliant upon meeting the goal of the task and finishing the targets inside the predetermined time and financial plan. The board assumes a gigantic part in the effective finish of development projects. The main issues that is looked by the administration in the undertakings are strategies and cycle of execution, the board of laborers, gear, planning, and cash. Cost and time are typically the main inquiries that surface in any undertaking. Assuming that we think about any development industry on the planet, the Indian development area has confronted a ton of challenges in land obtaining issues, unfriendly political and primary changes, lack of ability, plan and constructability issues, and high material and work costs. Because of the current degrees of material and work cost expansion and economic situations, workers for hire are expanding their normal by somewhere in the range of 6% and 9%. These increments are seen in higher delicate costs, especially on significant milestone improvements, albeit on more modest undertakings workers for hire are bound to retain the inflated expenses to stay in rivalry. In arranging, planning, and developing a venture, the expense is critical. While conveying a venture the principal point of the association is to complete the undertaking inside arranged time and cost and whenever achieved thus, the task is said effective. Be that as it may, for all intents and purposes because of absence of information and disappointment in arranging and execution this is unimaginable. The development business is viewed as quite possibly the most basic ventures in Indium. It is notable that most development projects are presented to numerous disappointments to many reasons. Deferral and cost overwhelm are two of the significant imperfections in the development business. Be that as it may, for all intents and purposes because of absence of information and disappointment in arranging and execution this is absurd. As indicated by PMI research, around half - 60% of ventures are effective and the rest flop because of cost invade and delays in project conveyance. Countless development projects have been deferred because of many reasons and issues, which have been concentrated in various investigates, yet these reasons in India, fluctuates from better place to put, because of different geography of the country. To the aversions of proprietor, worker for hire, and expert, in any case, many tasks experience a ton of postponements and along these lines lead to starting time invade and generally quotes. This issue is more found in the conventional kind of agreements in which the agreement is given to the most minimal bidder-the granting methodology of most of undertakings in emerging nations like India. As indicated by the Ministry of measurements, upwards of 369 ventures every value Rs. 150 crores or above, have shown cost invaded of over Rs. 3.58 lakh crores because of postponements and different reasons in the year 2018.
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