| dc.description.abstract | Construction Industry plays a major
role in the development of a country. Cost is a
basic criterion which measures the success of a
project. Though the cost reduction methods are
available in the industry, cost overrun has
severely affected the status of the Sri Lankan
construction industry. Thus, this paper aims to
identify the impact of cost reduction methods
which are currently used over cost overrun, on
the identified management approaches in the Sri
Lankan construction industry. This research was
assessed through a detailed questionnaire survey
and interviews. The number of distributed
questionnaires were 60 and the response rate
was 88%. Correlation and regression analyses
were done with the use of SPSS software to
analyse the collected data. The interview
questions were assessed through the content
analysis. The findings highlighted that there is a
positive relationship between cost reduction and
those identified management approaches (precontract,
post-contract, human resource,
material & change management). It is
recommended to change the cost mitigation
measures from traditional methods to new
methods such as sustainable construction and
value management strategies. Moreover, the
implementation issues of these methods were
identified and suggestions were made as making
proper project planning with the use of actual
project data and software skills. While this
research focused on finding the impact of cost
reduction methods, future research could
develop and categorize the modern techniques to
reduce the cost and time overruns in
construction projects. | en_US |
