Strategies and Best Practices for Managing Cost Overruns in the Construction Industry of Pakistan

Abstract

Cost overruns pose a common challenge for the construction industry, leading to significant impacts on project profitability and sustainability. This research study aims to investigate effective strategies and best practices that can assist construction firms in managing and mitigating cost overruns. The study will employ a qualitative research method, specifically utilizing an in-depth review of existing literature on cost overruns in the construction industry, as well as conducting semi-structured interviews. The research findings will identify the root causes of cost overruns and provide practical measures for effectively managing them. This study contributes to the existing body of knowledge on cost overrun management in the construction industry, offering detailed and practical recommendations for construction professionals to address this critical issue, with a particular focus on Pakistan.