Costs and Cost Analysis in Construction Project Management

Dear Colleagues,

The classical approach to project management is the planning, organizing, directing, and monitoring of an organization’s resources for a temporary purpose that will eventually achieve specific goals and objectives. Project management in the construction sector is a very intriguing issue as it involves the dynamic nature of a construction project, at the same time involving a variety of different stakeholders and parties with the challenge of a successful coordination. However, even after 40 years of project management, construction projects fail to respond successfully. One of the most critical success factors for construction projects is the “Iron Triangular” cost–quality–time. One step further would be, “is the right project in progress?” This level of project success is one of the most preferred by owners, sponsors, and developers and is known as “value for money”. Again, though, the question remains of which the most effective approach is. The evolution of technology and the new era of the 4th Industrial Revolution with the introduction of digital technologies in the construction sector such as building information modeling (BIM) and blockchain could pave new avenues for successful projects.

The aim of this Special Issue is to investigate ways for the adoption of new technologies for efficient and effective cost estimation and analysis in the construction industry.

Dr. Kleopatra Petroutsatou
Guest Editor

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