Behavior in terms of delays and cost overrun of the construction of public infrastructure in Colombia

Autores UPV
Año
CONGRESO Behavior in terms of delays and cost overrun of the construction of public infrastructure in Colombia

Abstract

Delays and cost overruns in the construction of public infrastructure in Colombia is well documented in the literature. However, the information used in the studies is usually supported by subjective perceptions and not by reliable data. For this reason, it is important to conduct a detailed execution analysis of construction contracts in Colombian public infrastructure to confirm the existence of cost overruns and delays. For this analysis, cost values and contractual deadlines were obtained from not currently running contracts made by state agencies in Colombian infrastructure construction. These data were compared with the real final results to establish consistent percentage delays and cost overruns. Consistent differences along time since 2011 were found depending on the type of contract, revealing the weaknesses of the selection process. Additionally, the analysis shows that cost overruns are less significant than time delays. The results obtained from this analysis will be used to identify the magnitude of the problem in order to create new strategies to develop more efficient selection criteria for public contracts in Colombia.