FACTORS RESPONSIBLE FOR TIME AND COST OVERRUN IN HIGHWAY CONSTRUCTION PROJECTS: INDIA

Abstract

As infrastructure is the backbone of a country and plays an important role in the growth of the economy of the country. But the problem of the delays and cost overrun is the main problem in India which is hindering the performance of the projects and affecting the economy in the negative way. This study was carried out with aim to find out the most critical factors which are responsible for the time and cost overrun in highway construction projects which would help to sort out the problem of the time and cost overruns and ensure the timely completion of projects. The research was done by carried out the questionnaire survey and personal interviews of the professionals who are experienced in this field. The prioritization of factors was done after checking the difference in the perceptions of the different stakeholder organization. The factors were prioritizing from most critical to the desirable factors. A binary logistic model was also developed to check the probability that whether the project was within time and cost or not by comparing the dividing the respondents into two categories namely, one who have handled projects which were completed on time and within cost and other who have handled projects with time and cost overrun.