INHIBITING FACTORS OF COST PERFORMANCE IN CONSTRUCTION PROJECTS - A CRITICAL REVIEW

Abstract

Building projects worldwide face significant cost performance challenges due to cost overruns, with 30% underperforming on cost. Overruns were 80% of the global building projects, and this issue was a repetitive phenomenon. The study performed an investigation for the elements of poor construction cost performance due to exceeding budgeted costs. Comparative analysis was conducted at a global level, identifying common factors affecting project expenses. Also, The paper analyzed the driven elements contributing to this problem, focusing on understanding the causative elements. Following PRISMA guidelines. the study identified prevailed overruns factors affected project budgets and presented mitigation measures. Comprehensive guidelines were established to direct project costs management and control budget overruns. A protocol was developed to identify, evaluate, and manage key elements leading to overruns, helping to avoid overruns, stay on budget, and achieve economic benefits.