Risks that Cause Cost Overrun in Construction Projects
Case Study in Jordan
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The construction industry is major contributor in the economy of all countries. Effective cost performance is always main concern of any construction project. Its importance has been further increased after the economic recession. Each construction project has different characteristics based on its location, function and objectives, which means that new projects hide new challenges to be faced by the construction parties. The success of a project is usually measured by delivering it within the required cost, time and quality, which are affected by number of risks and uncertainty sources. Some ...
The construction industry is major contributor in the economy of all countries. Effective cost performance is always main concern of any construction project. Its importance has been further increased after the economic recession. Each construction project has different characteristics based on its location, function and objectives, which means that new projects hide new challenges to be faced by the construction parties. The success of a project is usually measured by delivering it within the required cost, time and quality, which are affected by number of risks and uncertainty sources. Some of these risks are related to global factors, while others are linked to the performance of project parties. This book aims to investigate major risks that cause cost overruns and delays in construction projects and gives recommendations about how to avoid, prevent and mitigate their effects. In addition, it analyses the implementation of risk management in the Jordanian construction industry. This book is considered different because it mainly covers complex private projects in Jordan, while others were based on public projects.
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