ANALYSIS OF TIME AND COST OVERRUN TO KEY SUCCESS OF HIGH-RISE COMMERCIAL BUILDING PROJECT - A CASE STUDY

Time overruns and Cost overruns have been a major issue in many Indian construction projects especially in high-rise building projects. The successful execution of construction projects and keeping them within prescribed schedule and cost is very important for effective time performance and cost performance. Successful management of construction projects is based on three major factors i.e. time, cost and quality. The successful completion of construction projects within the specified time has become the most valuable and challenging task for the Managers, Architects, Engineers and Contractors. The aim of the study is to study the management of time and cost overruns to key success of high rise commercial building project which shall not be increased by more than ten percent of estimated cost. Time and cost overrun is analyzed by identifying the factors influencing time and cost overruns in high rise commercial building project. A valid questionnaire for the survey was developed based on factors for cost overruns identified from literature review. These factors are grouped into 8 categories for cost overruns and distributed to Contractors, Consultants, and Owners of high-rise construction projects.