Time and Cost Variance of Construction Projects Monitored …
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Fig. 4 Variability of cost deviations ratios CV representative for shopping malls
5 Conclusions
The following preliminary conclusions have been drawn as a result of determining
time and cost variance of construction projects monitored by Bank Investment
Supervision in 40 projects and 536 reported measurements:
• the planned costs resulting from the work and expenditure schedule differ significantly from the actual costs incurred during the execution of the investment; this
also applies to the planned time for completing the investment task;
• the average value of the cost performance efficiency indicator proves that the
actual cost of implementation is by 2–19% higher than that planned;
• the average value of the schedule performance efficiency indicator proves that the
actual implementation time is by 4–20% longer than that planned;
• actual costs, after reaching a half of work and expenditure advancement, are generated at a much faster rate than indicated in the Investor’s work and expenditure