Examination into Cost Overruns within the Construction Industry of China (2019)
Construction Cost Overruns in China Dissertation – Construction overruns can prove to be costly and problematic, notably within the construction industry. Project overruns can come into existence by delayed regulatory approvals, stalled land acquisition and financial constraints all of which take a toll on the execution of projects. This research dissertation focuses on identifying major factors which can cause cost overruns notably within the construction industry of China.
Both internal (major) and external factors of cost overruns will be identified by a robust literature review and survey. Also, this dissertation attempts to pro-vide a comprehensive cost management system overview of the current state of the construction industry in China. The overruns of cost can be caused by delays, variations (such as changes in designs and contract documentation) and mistakes (poor planning, management or supervision).
Under these conditions, new delays and cost overruns could be incurred, thus result in project failure. It is worth to mention that the best way to minimise cost overruns is minimising delays and other factors which can cause cost overruns. In this way, this dissertation will carry out research investigation on delays and variations in order to identify the factors and causes of construction cost overruns.
A survey was deployed with the aim to assess the current climate within the construction industry of China and the most important factors that contribute to cost over-runs. Lastly, the method of how to manage the construction cost overruns and relevant problems will be fully presented. Although this research is focus on China, but it provides useful information for the UK even the worldwide construction industry.
- Present research on the definition and characteristic of cost overruns. To be specific, 1) the frequency of cost overruns in China; 2) which party can cause cost overruns; and 3) identify which is the best stage to prevent cost overruns.
- To identify the most severe causes and factors that result in project cost overruns in China
- To provide a comprehensive management method for cost overruns at different stages
- 12,000 words – 54 pages in length
- Excellent use of literature
- Excellent of subject area
- Well written throughout
- Includes questionnaire
- Ideal for quantity surveying students
1 – Introduction
Background of China Construction Industry
Rationale of the Research
Aim and Objectives
2 – Literature Review
Problems in China Construction Industry
Relevant Research on Cost Overruns
Definition of Cost Overruns
Effects of Cost Overruns
Definition of Delays
The Relationship between Cost Overruns and Delays
Effects of Delay
Study of Specific Factors and Issues which Affect the Project Cost
Factors which Incur Cost Overruns at Design Stage
Factors which Incur Cost Overruns at Construction Stage
Types of Delay
Causes of Delay / Factors which Incur Delay
Correlation of Variation, Delay and Cost
Variations in Construction Project
Definition and Details of Variations
Control of Variations
Control of Project Finance and Cost Overruns
Causes of Cost Overruns at Different Stages in China
Decision Making and Design Stage
Management Methods of Cost Overruns and Relevant Problems
The Organisation of Construction Cost Control Process
Partial Cost Management Map
Variations Management System and Model
3 – Research Design and Methodology
Research Data Types
Sample of Participants
4 – Data Collection, Analysis and Discussion
Working Experience of Survey Participators
Frequency of Occurrence of Cost overruns
Who Is the Main Cause and should be Responsible for Cost Overruns?
Which Stage Can Manage the Cost Overruns Easily?
Stage is the Best Stage to Prevent Cost Overruns?
Most of the Causes and Factors of Cost Overruns Occur in which Stage?
Result of Internal Factors Caused the Cost Overrun
Result of External Factors Caused the Cost Overrun
Top 10 (Rank) Internal Factors which Cause Cost Overruns Importance and Frequency
5 – Conclusion and Recommendation
Research Finding and Observation
Conclusion of Objectives
Limitation of the Research
Future Research recommendation