Study on Time and Cost Management in Construction

International Journal of Civil Engineering and Technology, 10(3), 2019, pp. 679-690

12 Pages Posted: 28 Sep 2019

See all articles by K. Venkat Raman

K. Venkat Raman

Assistant Professor, Bharath Institute of higher education and research, Chennai.

P. Dayakar

Professor, Bharath Institute of higher education and research, Chennai.

Dr. R. Venkatkrishniah

Professor, Bharath Institute of higher education and research, Chennai.

Dr. A. Mani

Professor, Bharath Institute of higher education and research, Chennai.

Date Written: March 2019

Abstract

In India large construction projects are inherently complex and dynamic. Many projects start with good ideas, huge investments and great efforts. However, most of them do not achieve much success. A major contribution to unsuccessful projects is the lack of understanding on scope, time, cost and quality. This project Projects as powerful strategic weapons when initiated create economic value and competitive advantage. The objective of the research is to explicitly declare the scope of the research to by considering only the scope, time, cost and quality as process success parameters and how specifically the cost element would influence the project success when all other elements or factors other than cost are represented in terms of cost factor along with the contract conditions as basic rules or constraints that drive the strategic cost based on applying the analysis methodology concept. The concept of benchmarking would provide right meaning of project success when allowing to properly distributing the meaning of customer profitability to the project providers (project owner and contractors). In this discussion, we emphasize the project management uses of accounting information. Interpretation of project accounts is generally not straightforward until a project is completed, and then it is too late to influence project management.

Keywords: Time and Cost Management

Suggested Citation

Raman, K. Venkat and Dayakar, P. and Venkatkrishniah, Dr. R. and Mani, Dr. A., Study on Time and Cost Management in Construction (March 2019). International Journal of Civil Engineering and Technology, 10(3), 2019, pp. 679-690. Available at SSRN: https://ssrn.com/abstract=3455960

K. Venkat Raman (Contact Author)

Assistant Professor, Bharath Institute of higher education and research, Chennai. ( email )

Chennai
India

P. Dayakar

Professor, Bharath Institute of higher education and research, Chennai. ( email )

Chennai
India

Dr. R. Venkatkrishniah

Professor, Bharath Institute of higher education and research, Chennai. ( email )

Chennai
India

Dr. A. Mani

Professor, Bharath Institute of higher education and research, Chennai. ( email )

Chennai
India

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