ASSESSMENT OF FACTORS MITIGATING THE EFFECTIVE PREPARATION OF COST ESTIMATE AT THE DESIGN STAGE

The construction industry struggles with developing accurate cost estimates during the design stage, creating significant project management and financial risks. Research reveals that current estimation practices are complex and often compromise project outcomes. Kumar et al. (2022) found that approximately 62% of construction projects experience budget overruns directly linked to inadequate early-stage cost estimation. These challenges stem from insufficient predictive modeling techniques, limited integration of technological and economic variables, lack of comprehensive risk assessment frameworks, and inadequate historical data utilization. Cost estimation errors create substantial economic consequences, with González-García et al. (2020) demonstrating that inaccuracies can result in financial discrepancies ranging from 15% to 40% of total project budgets. These errors generate economic inefficiencies and organizational uncertainties that ripple throughout project lifecycles. The research problem focuses on identifying and analyzing specific factors that undermine effective cost estimation during the design stage, aiming to develop more robust, data-driven methodological approaches that improve estimation accuracy and reliability. While numerous studies have investigated cost estimation in construction projects, few have focused specifically on the design stage (Moselhi, 2015). Furthermore, there is a need for empirical research that identifies the factors hindering effective cost estimation at this critical stage (Atkin & Brooks, 2015). This study addresses this research gap by exploring the factors mitigating effective cost estimation at the design stage.