Evaluation of the Factors Influencing Time and Cost Overrun in Construction

Construction industry is considered as one of the most important and second largest industries in India after agriculture. It is well known that most construction projects in India, especially in Tamil Nadu are exposed to time and cost overrun or both. Time cost schedule is a crucial task in construction project management. This phenomenon may affect the progress of construction industry in Kerala as well as may expose many institutions of construction to be destroyed For instance, it can materially help to identify the expected financial requirements. It is also an important tool for the time control process. Construction project time schedule is greatly affected by many uncertain but predictable factors. This research list the main factors affecting time and cost overrun and discusses their influence on schedule performance. The main factors are analysis using Statistical Package for the Social Science (SPSS 16.0). From the analysis planning and scheduling deficiencies, financial unavailability, quality of materials, rain / inclement weather effect, inaccurate time estimates, design changes by owner found to be most critical factors.