| Abstract: | The effects of cost overruns are not confined to the construction industry but are reflected in the state of the overall economy of a country. This is particularly so in Turkey, where construction investments account for almost half of all investments. A large number of Turkish public agencies and contractors were surveyed to identify the causes of such cost overruns in public projects undertaken in the decade 1970–1980. The results indicate that inflationary pressures, increases in material prices and workmen's wages, difficulties in obtaining materials at current official prices, construction delays and errors in first estimates were the most important sources for cost overruns. |
