Risk of Time Delay and Cost Overrun in Construction Projects

Document Type : Primary Research paper

Author

Civil Engineering Department, University of Garmin, Kalar, Sulaymaniyah, Iraq

Abstract

The aim of this research is to minimize business risk. Online questionnaire is used as a methodology. This research concludes that time delays and cost overruns, are not uncommon in construction projects. The research finds the most important factors leading to time delay and cost overrun are inadequate construction planning, poor estimation, project changes, poor contract management, shortages of materials, finance and payment problems. Poor business performances can be significantly reduced by providing adequate construction planning at the beginning of the project, accurate in estimation, preventing changes in projects during construction, improving contract management and improving communication between construction parties.

Keywords