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<p>This research examines the multifaceted factors that influence cost management practices in the Indian construction sector, with the objective of improving efficiency, competitiveness, and sustainability. The study addresses two central questions: (1) What are the prevailing cost management practices in the Indian construction industry, and (2) Which factors significantly impact these practices? Using a comprehensive literature review and empirical data collected through an online survey, the study uses factor analysis via SPSS 28 to discern the key determinants affecting cost management. The analysis identifies economic conditions, material costs, supply chain disruptions, project delays, poor site management, and lack of skilled labour as critical factors. The findings underscore the need for robust cost management strategies to mitigate financial challenges, reduce project delays, and improve overall project success. This research contributes to a more profound understanding of cost management dynamics in the Indian construction sector and provides practical recommendations to practitioners and policymakers to foster more effective cost control measures, thus ensuring the timely and cost-effective completion of construction projects.</p>
</abstract>

This research examines the multifaceted factors that influence cost management practices in the Indian construction sector, with the objective of improving efficiency, competitiveness, and sustainability. The study addresses two central questions: (1) What are the prevailing cost management practices in the Indian construction industry, and (2) Which factors significantly impact these practices? Using a comprehensive literature review and empirical data collected through an online survey, the study uses factor analysis via SPSS 28 to discern the key determinants affecting cost management. The analysis identifies economic conditions, material costs, supply chain disruptions, project delays, poor site management, and lack of skilled labour as critical factors. The findings underscore the need for robust cost management strategies to mitigate financial challenges, reduce project delays, and improve overall project success. This research contributes to a more profound understanding of cost management dynamics in the Indian construction sector and provides practical recommendations to practitioners and policymakers to foster more effective cost control measures, thus ensuring the timely and cost-effective completion of construction projects.

Scaffolding Success: A Comprehensive Analysis of Cost Management Drivers in Construction Projects

Baltic Journal of Real Estate Economics and Construction Management

This work is licensed under the Creative Commons Attribution 4.0 International License.

This research examines the multifaceted factors that influence cost management practices in the Indian construction sector, with the objective of improving...

Scaffolding Success: A Comprehensive Analysis of Cost Management Drivers in Construction Projects

Pubblicato online: 22 lug 2024

Pagine: 138 - 149

Ricevuto: 17 mar 2024

Accettato: 12 apr 2024

DOI: https://doi.org/10.2478/bjreecm-2024-0009

Parole chiave
Cost management, construction sector, factor analysis, economic conditions, material costs, project delays, skilled labour shortage

© 2024 Rashmi Jaymin Sanchaniya et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Scaffolding Success: A Comprehensive Analysis of Cost Management Drivers in Construction Projects

Pubblicato online: 22 lug 2024

Pagine: 138 - 149

Ricevuto: 17 mar 2024

Accettato: 12 apr 2024

DOI: https://doi.org/10.2478/bjreecm-2024-0009

Parole chiaveCost management, construction sector, factor analysis, economic conditions, material costs, project delays, skilled labour shortage

© 2024 Rashmi Jaymin Sanchaniya et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Parole chiave
Cost management, construction sector, factor analysis, economic conditions, material costs, project delays, skilled labour shortage