• Ishan Doshi
• Vaibhav Shah
• Aniket Bhoite
• Nitin Rane

In this day and age, construction of buildings in India’s construction industry, are encountering numerous difficulties regarding total cost flow and project schedule. The main aim of this study was to identify, asses the risk factors affecting the total cost and time of project and their effects on construction projects. After thorough and in-depth literature review, forty (40) risk factors were identified. Questionnaire survey and personal interviews were carried out across associates, stakeholders, engineers, contractors and sub-contractors to know their perspectives on causes of cost and time overrun of the project. This study categorizes and asses the risk factors that affect the total cost and time of project using relative importance index (RII) for analysis. Due to utilization of RII, factors were computed so as to get their respective ranks. The most crucial factors that played significant role in increasing the predefined budget and project time were identified as: (1) inflation (RII=0.945), (2) time overrun (RII=0.815), (3) shortage of key materials (RII=0.81), (4) access to funds at reasonable interest rates (RII=0.806), (5) labour shortage (RII=0.805). The study deducted that inflation and time overrun were top two factors having highest impact with RII values 0.945 and 0.815 respectively. Also factors that had the least impact were changes in currency exchange rates and poor communication between parties having RII values 0.32 and 0.314 respectively. Due to identification of these factors, we can prevent complexities, uncertainties and increase in total cost and time of a building project.

Risk impact, Relative importance index, and Total cost flow

"A Study on Factors affecting Cost and Time Overrun for Residential Construction Projects by RII", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.174-177, April-2019, Available :http://www.jetir.org/papers/JETIR1904E29.pdf

"A Study on Factors affecting Cost and Time Overrun for Residential Construction Projects by RII", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp174-177, April-2019, Available at : http://www.jetir.org/papers/JETIR1904E29.pdf