Predicting cost contingency for private projects: Case study in Vietnam

Abstract

Actual cost in construction projects has tended to exceed the project budgets. Thus, cost contingency from the initial of the project is the significant budget to complete project activities. Cost contingency is an important element of cost estimation to protect project stakeholders such as owners, contractors, and architects from the risks of the project. This paper reviewed the previous studies to find the factors affecting cost contingency and proposed a regression model to predict the cost contingency for private projects in Vietnam.