Explpring critical success factors for cost management process in construction projects

Abstract

Critical success factors are inputs to project management put into practice which canister lead rightly or incidentally to project success. The purpose of the study is to determine the critical success factor for cost management process in construction project. The objective of the study is to identify the factors that give to the success and failure in project management system. Construction industry is an important part of Indian infrastructure and an essential contributor to the economic and social development. This thesis has been planned to deal with exploring the critical success factors affecting the cost management process and to carry out quantitative analysis using questionnaire survey among engineers, architect, developers and using ANOVA (analysis of variance) method. The outcome indicates that positive supplies must be met with for reducing the cost overruns. In particular, standard management practices, high stage performance of the project engineers, successful time and quality management, large agreement of current management tools and techniques and team involvement in the project are found to be significant factors for project Cost management. Absence of one is many of these factors in project execution result in cost overrun.