Risk of Cost Overruns in Implementation of Building Investment in Urban Conditions in the Aspect of Historical Background of its Location. Issue 11 (February 2019)

• Record Type: Journal Article
• Authors: Apollo, Magdalena; Grzyl, Beata; Jakubowicz, Pawel
• Is Part Of: IOP conference series. Volume 471:Issue 11(2019)
• Publication Date: 2019-02
• Subjects: Materials science -- Periodicals; 620.1105
• DOI: 10.1088/1757-899X/471/11/112055
• Languages: English
• ISSNs: 1757-8981

Abstract

Abstract: The article is a continuation of the authors' analyzes on the risk of delays in implementation of building investment in urban conditions in the aspect of historical background of its location. In case of construction investment located in the historic part of the city, the possible accumulation of many unfavourable factors, which in course of its implementation, may constitute a serious source of cost overruns and disruptions, should be taken into account at the preparation stage of the project. Therefore the aim of the article is to present the main factors that have a significant impact on the construction site located in the historic part of the city, i.e. they are the cause of risk in the course of works and, as a consequence, affect the cost of construction project. On the selected example of the facility located in the historic part of Gdańsk Old Town, the authors indicate the reasons for construction investment cost increase. The authors also analyze the scope of resulting cost overruns between planned and actual values. The aim of the analysis is to draw investors' attention to the need of taking into account cost contingency already at the preparation stage of construction investment, which results from the specific and unique nature of this type of projects.