Published Paper Details:

The role of the construction industry plays in socio-economic development is significant. The construction industry has a significant multiplier effect on the economy as a whole. Cost is one of the primary measures of a project's success. This thesis presents a new optimization -based approach to the long term planning of road networks. The traditional approach to the road network planning problem focuses on defining the investment decisions that will optimize the network efficiency under a given budget. The investment decisions can consist of either improving existing roads or adding new roads to an existing road network. The use of contingency in construction provides a tacit acknowledgement of the perennial problem of cost overruns in the delivery of projects. The effects of these cost overruns are adverse consequences such as projects becoming non-viable or in extreme cases being abandoned. The immediate as well as other stakeholders associated with the project suffer the socio-economic impact of this adverse consequence. To some extent the cost overruns can be deemed as being symptomatic of inadequate planning and budgeting of projects that in turn is a consequence of accuracy of costing data employed for estimating project budgets. Understanding the nature and factors that account for the overruns should assist in establishing more accurate project costs. The aim of the study is to explore the nature and scale of project cost overrun in construction to provide information for planning future projects. The study will utilize project data from road schemes to establish the magnitude of the cost overrun. In this paper we proposed an efficient budget oriented optimized cost overgrow scheme in Construction Technology and Management (CTM) system. Our proposed scheme solved the cost overgrow problem and improved the overall effect of the construction industry projects. The experimental results of our proposed scheme showed the effectiveness compared with existing works.