Aguocha, T (2023) Best practices for cost monitoring and control in construction projects: An exploratory case study. DBA thesis, National University, USA.
Abstract
The growing complexities within the commercial construction sector in the United States have generated significant challenges related to cost management and project timeliness. These issues impact various stakeholders, including project owners, contractors, subcontractors, and suppliers. There was a problem with project management in the construction industry, which is poor performance in budgeting and cost overruns (COs) in the construction industry. The purpose of this qualitative exploratory study was to understand senior managers' approaches to controlling COs in construction projects to improve project success with budget constraints. The relationship between concepts derived from existing theories and research was the guiding conceptual framework for this study. Three research questions guided the study: (a) What are the primary factors contributing to cost overruns in commercial construction projects in the United States, (b) What best practices do senior managers implement to ensure the performance of construction projects regarding budget and cost management, and (c) What are the strategies of a project manager to manage scheduled construction project delivery on time. The qualitative exploratory study, with participants consisting of 12 seasoned project managers within the U. S. commercial construction sector, using purposive sampling. A semi-structured interview was the primary data collection tool, transcribed and analyzed using thematic analysis, facilitating the identification and interpretation of recurring themes. The findings indicated incomplete drawings, schedule delays, fluctuating material prices, and insufficient project management practices. The implications for practice are that project managers are not bound by convention but are pioneering innovative strategies and embracing technology. Recommendations for future research includes focus on longitudinal studies, comparative analyses, and insights from other industries to inspire innovation in modern technologies.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Davis, R |
| Uncontrolled Keywords: | United States; budgeting; case study; cost management; innovation; interview; monitoring; project delivery; project manager; project success; thematic analysis |
| Index terms: | case study, project manager, project success, schedule delay, budget constraint, cost management, cost overrun, commercial construction, owner, monitoring, best practice, project management, project delivery, construction industry, purposive sampling, interview, project management practice, manager, United States, comparative analysis, budgeting, exploratory study, construction project delivery, strategy, drawing, thematic analysis, construction project, subcontractor, complexity, conceptual framework |
| Subjects: | practitioner, construction type, production management, Geography, theoretical framing, research methods, accounting and finance, control systems, data collection methods, profession, business, data analysis and analytics, financial and cost management, project delivery, technical documentation, methods and analysis, project management theory and practice, management, financial management, industry analysis, systems engineering, project controls, sociology |
| Topics: | Project Management, Geographical Context, Engineering Principles, Procurement, Research Practice, Cost Management, Business Strategy, Construction Technology, Roles and Professions, Stakeholder Management, Design Practice, Site Management, Time Control |
| Descriptive scope: | 5 PCTEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here