Paper Contents
Abstract
The construction project performance is generally expressed in terms of time and cost variance against its baseline. Out of the four fundamental constraints namely scope, cost, time and quality, cost performance is the most essential and common issue in the global construction industry. It is important to measure the cost variance in construction to understand the performance of the project and thereby to understand financial risks involved in the project execution. The cost variance, resulting as project cost overrun is denoted as a negative impact on economy and the profitability.Going through the extensive research article on the subject it has been observed the change of governance structures for forecasting the project development as an external factor also effect the project planning and execution. It was found that projects do not perform as forecasted, in terms of costs many projects fall victim to significant cost overrun.
Copyright
Copyright © 2023 Ankush Patil, Dr. D. B Jasutkar. This is an open access article distributed under the Creative Commons Attribution License.
