Cost Escalation as a Risk in Construction Contracts

The increase in cost due to inflation has been a concern in the construction industry. In long-term projects, it becomes even more essential to know the cost for future planning and budget approval. This study attempts to adopt the probabilistic approach to put forth the prediction of cost escalation and compares the same with the actual cost and World Bank formula to demonstrate how the proposed method could lead to a more realistic way of forecasting

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Year of publication:	2019
Authors:	Yadav, Smitha
Other Persons:	Mehta, Vineet Kumar (contributor) ; Jain, Nishith (contributor) ; Kumar, Saket (contributor) ; Deb, Sagnik (contributor)
Publisher:	[2019]: [S.l.] : SSRN
Subject:	Bauwirtschaft \| Construction industry \| Risikomanagement \| Risk management \| Risiko \| Risk \| Vertrag \| Contract \| Projektmanagement \| Project management \| Theorie \| Theory
Description of contents:	Abstract [papers.ssrn.com]