A study on impact of assertion and cost management in construction industry

Assertion management has high priority in the construction engineering and management field. It is complicated to completely forbid asserts from appearing in the construction management project and escalating the number of construction assertions designate the necessary for the enactment of a successful construction assertion management. The overall objective of the project is ‘to traverse all the major elements donating the cost overrun and recognizing the judgmental elements among them in cost management process and assertion’. Further, various practicing professionals like project managers, consultants and promoters have been interrogated uniquely to get the empirical issues through a survey questionnaire. Findings have been arranged and acceptable methodologies are being used to solve the problems and have been formulated which are appropriate for our Indian Scenario. The findings show that a lack of knowledge of the assertion, inaccessibility or unavailability of relevant records, and disputes that occur during owner/contractor negotiations are all major concerns. Another explanation is that the building industry is unregulated, which means that everyone can work as a contractor. As a result, contract costs are reduced, and job quality suffers.