Search results for "Cost overrun"
showing 3 items of 3 documents
Development of target cost – By the owner or together with Contractors - Target Value Design
2021
Abstract Cost growth and cost overrun of projects is a well-researched topic, but still a recurring problem. Some of the problems may be attributed to the difficulties of setting a realistic cost estimate in the early phase of the project. This paper aims to give insight o the challenge of setting realistic cost targets. We particularly focus on large and complex infrastructure projects in the context on the Norwegian construction industry. Four large infrastructure projects have been examined, all used a variation of target cost and was more or less successful in their implementation of this approach. Through interviews and document study we identified that when setting cost targets for pr…
Brief Introduction to Probability Distributions
2014
There is a great deal of uncertainty in any project. That is, data is seldom absolutely reliable and exact, since there is never certainty about duration of tasks, price variations, effect on the environment, etc., to say nothing about those aspects which are external to the project and for which the project developer has no control, such as weather conditions, demand, stock fluctuations, inflation, supplier’s delays, etc. It is believed that many projects are not completed in time and finish with cost overrun, because in their preparation, data is taken as unquestionable, and then actual conditions show that it is not precisely the case. For this reason the uncertainty aspect has to be con…
ERP Implementation in an SME: A Failure Case
2013
This study examines a failed enterprise resource planning (ERP) implementation in a small-and-medium-sized enterprise (SME). The improper handling of critical success factors (CSFs), particularly those relating to support from top management, project management, and the use of consultants, led to severe problems. This placed stress on the organization, caused employees to leave the company, workarounds, and led to serious errors in the systems and a significant cost overrun. This case study contributes to the literature on ERP implementation in SMEs. In particular, it contributes to our understanding of the socio-technical dynamics of ERP implementation projects. Failed ERP cases are little…