Investigation of Construction Cost Overrun Issues and Management: Evidence from a Public University in Ghana

Philip Kofi Asiwome Segbedzi
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Philip Kofi Asiwome Segbedzi: Directorate of Physical Development and Estate Management, University of Cape Coast, Cape Coast, Ghana.

International Journal of Research and Innovation in Applied Science, 2023, vol. 8, issue 7, 76-81

Abstract: This study investigated the issues and management of construction cost overruns in a public university in Ghana. Specifically, the study answered the following research questions: (1) What types of project experience construction cost overrun? (2) What are the causes of project construction cost overruns? (3) How are project construction cost overruns managed? The study used the qualitative research approach. Documentary reviews and participant observation were the research methods employed for the data collection. The study showed that all types of construction project irrespective of the source of funding (i.e., internally generated funded, Ghana Education Trust Funded and externally funded project) experienced cost overruns. Also, it was established that contractors, location of the project, project consultants and funders were responsible for construction cost overrun in the university. In terms of the management of projects with cost overrun, they were based on the circumstances surrounding each project.The study recommendsthat due diligence should be done before awarding construction project contracts to avoid contractual stalemates in the future. Also, the income statement of contractors should be thoroughly analyzed to ensure they are not concurrently executing numerous projects and have the financial capacity to execute the project. Other resources like human resources and machinery should also be thoroughly analyzed to ensure their adequacy. Additionally, project consultants should ensure that their roles in projects that have been awarded for construction are effectively and efficiently carried out.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bjf:journl:v:8:y:2023:i:7:p:76-81

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