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Cost Overrun

Cost Controlling in Construction Projects

By |July 10, 2020|Categories: Construction Management, Cost Control, Project Controls, Project Management|Tags: , , , , , |

Cost overrun is a serious issue in construction projects. Despite its proven importance, it is common for a construction project to fail to achieve its objective within the specified budget limits. Cost performance is one of the essential criteria to measure the project's success. Some of the strategies are presented here to keep the project on track concerning the cost constraints. 1. Accurate Project Estimates Accurate estimation of the project is the key factor controlling the project costs. Mostly the BOQs that are generated at the time of bidding are not accurate and are made based on certain assumptions. [...]

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