Risks Leading to Cost Overrun in Construction Projects: A Systematic Literature Review

In construction projects in the world, there is generally a final cost overrun on the completion of construction projects. The cost overruns occur when the project has to face various risks due to the lack of anticipated preparation to minimize the risks that cause delays in the implementation of the sequence of work sequences. This is certainly a big problem in preparing construction project budgets and critical challenge for both owners and contractors, so it should be managed to decrease or avoid bad things. The purpose of this literature review is to present risks that cause cost overrun for the past ten years. Factors cause cost overrun; Cost Estimate, Construction Items, Project Participants, Environment, and Finance. This research used a systematic literature review. Based on ۵۰ journals review about risks leading to cost overrun, the most factor causes cost overrun is Project Participants (۲۵, ۶۰%) with case Poor Planning, ۲nd rank is Construction Items (۲۲.۶۷%) with case Frequent Changes in Design, ۳rd Rank is Cost Estimates (۲۲,۰۰%) with case Inaccurate Cost Estimation, ۴th rank is Finance (۱۶,۹۳%) with case Inflationary Pressure and last risk factor is Environment (۱۲,۸۰%) with case Weather Condition.

Keywords:

risk , Cost Overrun , construction project