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TIME AND COST OVERRUN AND THEIR EFFECTS ON PROJECTS DELIVERY IN CHINA CONSTRUCTION PROJECTS. ILLUSTRATE YOUR ESSAY WITH SPECIFIC EXAMPLES.

INTRODUCTION
The construction industry in China is of paramount importance for employment and economic growth. Therefore efforts geared towards improving construction efficiency by means of cost effectiveness and timeliness would be worthwhile and it will certainly contribute to cost savings for the country as a whole. There is worldwide accepted criterion for measuring project success. According to Dissanayaka and Kumaraswamy, (1999), time, cost, quality target and participation satisfaction have been identified as the main criteria for measuring the overall success of construction projects Ogunsemi and Jagboro (2006) assert that cost and time tend to be the most important and visible, always considered as very critical because of their direct economic implications if they are unnecessarily exceeded. However, Ifte et al (2002) opines that the estimation of time has continued to be a problem of great concern and interest to both the researchers and contractors.

Timely completion of a construction project is one goal of the client and contractor because each party tends to incur additional costs and lose potential revenues when completion is delayed (Thomas et al, 1995). In other words, project cost can be said to be a function of the completion time. The more the extension of time then there is likelihood of increased cost. Chan and Kumaraswamy (1996) opine that a project is usually regarded as successful if it is completed on time, within budget and to the level of quality standard specified by the Client at the beginning of the project. However, severe criticisms of the industry are generated when projects take far longer than planned.

 

EXPECTED CONTRIBUTION TO KNOWLEDGE
The study will contribute to the body of knowledge in the following ways:

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