Optimizing Cost Efficiency Through Cost Control in Construction Projects
Year: 2025
Type: article
Abstract: This research examines the critical role of cost control in enhancing cost efficiency within construction projects, an industry known for its financial complexity and susceptibility to cost overruns. By evaluating a range of cost control methodologies, the study aims to determine which techniques are most effective in managing project budgets and minimizing financial deviations. The Relative Importance Index (RII) method was applied to rank key cost control factors based on expert survey responses from construction professionals. These factors include project manager competency, frequency of cost updates, team stability, and the use of forecasting tools. A comparative assessment of cost control models—such as Activity-Based Costing, Earned Value Management, and performance-based budgeting—was conducted to identify their relative effectiveness in practical scenarios. Furthermore, this study incorporates case analysis and data collected from real-world projects to validate theoretical models. Challenges in the implementation of cost control strategies, particularly in large-scale or government-funded projects, were identified, including organizational inertia and political interference. The findings emphasize the importance of strategic planning, stakeholder involvement, and continuous monitoring to achieve budget adherence and financial sustainability. This research provides valuable insights for project managers and policymakers seeking to optimize project delivery through efficient and context-specific cost control mechanisms.
Authors: Nijal Alpeshkumar Kadia, J. R. Pitroda, C. S. Raichura, Umesh Panchal
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6893216113
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