Abstract:
Without any doubt for the project to be completed successfully depends upon meeting the projects goals, aims as well as its objectives within its expected budget and time. Unfortunately mostly projects did not complete successfully in term of under the budget and the defined time. Delay in construction is the main problem in Pakistan large construction projects. The delays and cost overrun are caused either due to paucity of funds or mismanagement at different levels of course. In Pakistan, construction sector is an important sector although not working to its fullest potential but still of prime significance to the country. Cost overrun has seen as the most severe problem in construction projects globally and in Pakistan particularly. Along with cost overrun delays in projects completions is also a crucial factor worldwide. Some time these failures lead to negative affections like conflicts between contractors and clients, decrease quality of work and safety accidents. Main objective of this research is to find causes of cost overrun and delays in construction projects in Pakistan. In this study we will identify the factors affecting construction projects in terms of cost and time overrun through literature review and questionnaire survey. Numbers of variables are studied out of which three variables are found to be common between all parties, so total of four variables are analyzed. Three independent (material price fluctuation, lack of experience and insufficient funds) and one dependent variable (cost overrun and delay). Quantitative methodology was used and data was collected from six construction companies in Rawalpindi and Islamabad. At the end result show positive relation between variables, that is with increase in causes the cost overrun and delays also increases with it.
