Construction Projects Cost Overruns Predicted to Minimize Risks and Control Budgets
The article analyzes costs of different construction projects from 2006 to 2019. Data was collected through inspections at construction sites and analyzed using the Earned Value Method. The researchers compared planned, incurred, and actual costs to identify deviations and predict cost overruns. They found similarities in cost trends within and between construction sectors, providing valuable insights for controlling and predicting project costs and schedules.