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Title:

COST OVERRUNS ON STATE OF WASHINGTON CONSTRUCTION CONTRACTS

Accession Number:

00626878

Record Type:

Component

Availability:

Find a library where document is available


Order URL: http://worldcat.org/isbn/0309052157

Abstract:

The completion of construction projects within budget is of paramount importance to most owners. Yet, it is common knowledge that numerous factors can cause the costs of construction to exceed the budget. Understanding the specific causes of cost overruns can serve as the beginning stage for controlling costs. Research was conducted to evaluate construction cost overruns on projects completed for the Washington State Department of Transportation. The objective was to identify factors that have the strongest association with construction cost overruns. Results of the analysis, which examined information from 468 construction projects, indicated that cost overruns, expressed as a percentage of the original contract amount, tend to increase with the size of the project. Evidence also suggests that the cost overrun rate increases with the number of bidders and with the increased dispersion of the various bids submitted per project.

Supplemental Notes:

This paper appears in Transportation Research Record No. 1351, Construction Quality and Construction Management. Distribution, posting, or copying of this PDF is strictly prohibited without written permission of the Transportation Research Board of the National Academy of Sciences. Unless otherwise indicated, all materials in this PDF are copyrighted by the National Academy of Sciences. Copyright © National Academy of Sciences. All rights reserved

Monograph Accession #:

01405027

Language:

English

Authors:

Hinze, Jimmie
Selstead, Gregory
Mahoney, Joe P.

Pagination:

p. 87-93

Publication Date:

1992

Serial:

Transportation Research Record

Issue Number: 1351
Publisher: Transportation Research Board
ISSN: 0361-1981

ISBN:

0309052157

Features:

References (13) ; Tables (8)

Uncontrolled Terms:

Construction costs

Geographic Terms:

Washington (State)

Old TRIS Terms:

Washington (State)

Subject Areas:

Administration and Management; Construction; Finance; Highways; I50: Construction and Supervision of Construction

Files:

TRIS, TRB

Created Date:

Feb 18 1993 12:00AM

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