Campbell, M. M.Ramabodu, Molusiwa Stephan2015-11-062015-11-06201420142014http://hdl.handle.net/11660/1514English: A number of factors contribute to cost overruns and delays in projects, some within the control of the project team, most of them not. These cost overruns and delays lead to additional costs and loss of productivity on work sites because of time lost. These factors are also not limited to certain regions, but occur in similar projects across the globe. Optimism bias and strategic misrepresentation are identified as the main causes of cost overruns in construction projects, estimates and costs. While the estimation process for this type of project is very complicated, certain techniques have been developed to assess risk and to plan for contingency for these types of problems. This is significant because the cost performance of construction projects is a key success criterion for project sponsors, since construction projects are notorious for running over budget. The concept of cost contingency, estimates, cost overruns, procurement, risk management and value management will be dominant in this study. The aim of this study is to propose a project flow chart model. When followed correctly, this model can reduce the risk of project overrun from the cost plan point of view. The results of the research indicate that the estimator must have the experience and skill to be able to produce accurate estimates. A model is proposed to guide the estimators on what to do before they can start with the estimating process.Afrikaans: 'n Aantal faktore dra tot koste-oorskrydings en vertragings van projekte by, sommige binne die beheer van die projekspan, die meeste nie. Hierdie koste-oorskrydings en vertragings lei tot bykomende kostes en verlies aan produktiwiteit op werkterreine weens tyd wat verlore gaan. Hierdie faktore is ook nie tot sekere streke beperk nie, maar kom regoor die wêreld by soortgelyke projekte voor. Optimistiese partydigheid en strategiese wanvoorstelling word as die hoofoorsake van koste-oorskrydings by konstruksieprojekte, beramings en kostes geïdentifiseer. Terwyl die beramingsproses vir hierdie soort projek baie ingewikkeld is, is sekere tegnieke ontwikkel om die risiko te evalueer en te beplan vir hierdie tipe probleme vir gebeurlikheid. Dit is betekenisvol omdat die kosteprestasie van konstruksieprojekte vir projekborge 'n kernkriterium vir sukses is, aangesien konstruksieprojekte berug is dat hulle begrotings oorskry. Die begrippe, kostegebeurlikheid, beramings, koste-oorskrydings, verkryging, risikobestuur en waardebestuur, sal die oorheersende faktore in hierdie studie wees. Die doel van hierdie ondersoek is om 'n projekvloeikaart-model voor te stel. Wanneer dit korrek gevolg word, kan hierdie model die risiko van projekoorskryding ten opsigte van die kosteplan verlaag. Die resultate van die navorsing dui aan dat die beramer ervare en vaardig moet wees om akkurate beramings te maak. 'n Model word voorgestel om die beramers te lei ter voorbereiding van die beramingsproses.enThesis (Ph.D. (Quantity Surveying and Construction Management)--University of the Free State, 2014Building -- Cost controlBuilding -- EstimatesCost overrunsEstimatesSkillExperienceCost plansThesisUniversity of the Free State