Analysis of Time and Cost Overruns in Road Project

Abstract

Management of the risk is the best approach during construction of road project, wherein numbers of unforeseen factors are involved. The project under consideration is the construction of 30 m wide road from Wadalagaon to Takligaon under the jurisdiction of Nashik Municipal Corporation. The road construction was started especially to cater the huge crowd likely to occur during Sinhastha Kumbha Mela, which comprises of laying of water supply, storm water and drainage lines, slab culvert at the intersection point of major road crossing and flexible pavement construction. The major activities of the project are broken down into various sub-activities and risks associated with each of these activities are enlisted. Time and cost analysis of project events for feasibility, design and technology stages is carried out. Costing of the project is carried out for corrective cost, risk cost, expected cost, present risk cost and final present completion cost, which clearly shows that rise in cost of the project is 18.46%. Further duration analysis of for corrective time, risk time, expected time, present risk time and final completion time is determined. The completion time of the project is delayed by 28.56%.
Keywords: Risk management, Nashik Municipal Corporation, Road project, Time and Cost overrun