Cost overruns and failure in project management: Understanding the roles of key stakeholders in construction projects

Abstract

The subject of poor cost performance has been widely published in the mainstream project and construction management literature. Nevertheless, the underlying responsibilities of the key stakeholders (clients, consultants, and contractors) in managing this chronic problem in the Australian construction industry remain unclear. By performing an in-depth analysis of the roles and responsibilities of these key stakeholders, this research is intended to unfold the industrywide perception of cost performance being heavily reliant on the contractor's performance alone. Based on a thorough literature review and relevant industry inputs, 73 attributes associated with cost performance were identified ..