Dealing with construction cost overruns using data mining

@article{AhiagaDagbui2014DealingWC,
  title={Dealing with construction cost overruns using data mining},
  author={Dominic D. Ahiaga-Dagbui and Simon D. Smith},
  journal={Construction Management and Economics},
  year={2014},
  volume={32},
  pages={682 - 694}
}
One of the main aims of any construction client is to procure a project within the limits of a predefined budget. However, most construction projects routinely overrun their cost estimates. Existing theories on construction cost overrun suggest a number of causes ranging from technical difficulties, optimism bias, managerial incompetence and strategic misrepresentation. However, much of the budgetary decision-making process in the early stages of a project is carried out in an environment of… 
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