| Title |
The Impacts of Time Extension on Construction Costs |
| Keywords |
Delay ; Overhead Costs ; Indirect Costs ; Time Extension |
| Abstract |
Delays and costs increase have been common occurrence in domestic public construction. Delays cause pretty much damages to the contractor as well as the owner. Few researches, nevertheless, has been performed to calculate the damages due to delays based on actual case study. It is important to estimate damages due to delays in public construction projects in order to take great concerns on the importance of timely completion of public construction projects. This paper focused on the impacts of time extension on public construction costs. The impact costs have been calculated and compared according to the Korean code and the international method. The results showed maximum 28.65% costs increase in domestic method and 31.65% in international method respectively based on 2 years time extension. Bigger gap was noted between domestic method and international method according the increase of time extension. It was, therefore, understood that the actions to prevent delays in construction projects are urgently needed especially in public construction sector. |