Risks Leading to Cost Overrun in Building Construction from Consultants’ Perspective

Abstract

Risks Leading to Cost Overrun in Building Construction from Consultants' PerspectiveThis study aims at identifying the risk map for factors affecting cost overrun in building construction projects in the West Bank in Palestine from the consultants' perspective.The field survey included 26 consultants.41 factors are identified through literature review.The factors are divided into 5 groups.The analysis of the identified 41 factors indicates that 1 factor is located in the green zone, 14 factors are located in the yellow zone, and 26 factors are located in the red zone of the risk map.The results indicate that the top five affecting factors are: political situation, fluctuation of prices of materials, economic instability, currency exchange, and level of competitors.It is hoped that these findings will guide efforts to enhance the cost performance of construction industry.

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