Cost Overruns
3 articles · search the full text for this term
-
Benchmarking Cost Overruns in Transportation Infrastructure Investments
Abstract: Highway projects have historically experienced significant cost overruns, with front end implications for the sustainability of transportation investments. However, the criteria for assessing cost overruns continues to elicit diverse opinions and has become a debatable issue in the literature. Some studies allude to detailed design stage estimates, while others tag conceptual stage estimates, as the ideal benchmark for quantifying the project cost deviations. A survey of the literature, principally from …
Published in Trends in Transport Engineering and Applications · Vol. 7, Issue 2, 2020 · pp. 29–37 Read article
-
Economic Sustainability of Transportation Infrastructure Procurement: The Differing Site Condition Clause Debate as an Underlying Environmental Trigger to Cost Overruns
Abstract: Case law is rife with contractual disputes arising due to lack of adequate geotechnical risk containment during procurement. The use of a ‘Differing Site Conditions (DSC) clause’, implies that, in the event of encountering a subsurface/geo-environmental condition different from that which was indicated in the contract, the owner bears the additional cost for executing the work under such conditions. However, the literature indicates a divergence in industry practise, with some …
Published in Journal of Construction Engineering, Technology & Management · Vol. 10, Issue 1, 2020 · pp. 11–19 Read article
-
Explaining the Cost Performance and Maturity of Transportation Infrastructure in the Developed and Developing World: One Size Fits All?
Abstract: AbstractScholarly text analysing the financial performance of highway projects are evident in the literature, most of which have opined that highway agencies record higher levels of cost overruns compared to other clients of construction and building works. Similar assertions are made about the relatively higher levels of cost overruns recorded on highway projects executed in the developing world. A scant number of seminal works have emerged in the literature, offering …
Published in Recent Trends in Civil Engineering & Technology · Vol. 10, Issue 1, 2020 · pp. 33–42 Read article