Study on cost deviation in construction of residential projects

Abstract

Cash flow and cost control are the main concerns for the success of any construction project. Effective cost control methods are carefully selected for the steady cash flow in the building project. The client’s and contractor’s aim are to achieve a better profit by controlling the cost contributing to a building project. Different factors contributing to the cost deviation are identified at various stages of the building projects. The study is conducted by categorizing building projects below 50 Lakhs, projects within 50 lakhs to 1 crore and project above 1Crs as budget cost. This paper discusses the problems of cost control and techniques effectively utilized for the management of construction cost of the building projects.