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Original Research

ASSESSMENT OF FINANCIAL FACTORS AND THEIR IMPACT ON DELAYING CONSTRUCTION PROJECTS (AN APPLIED STUDY ON PRIVATE COLLEGES IN IRAQ)

MOHAMMED MAREAI AWAD 1, ABDERRAZEK ELKHALDI 2, and HOUSSAM BOUZGRROU 3.

Vol 18, No 05 ( 2023 )   |  DOI: 10.17605/OSF.IO/ST7DJ   |   Author Affiliation: Ph.D. student, University of Sousse, Faculty of Economic Sciences and Management of Sousse, Tunisia 1; University of Sousse, Faculty of Economic Sciences and Management of Sousse, Tunisia 2,3.   |   Licensing: CC 4.0   |   Pg no: 1987-1999   |   Published on: 31-05-2023

Abstract

Delays in construction projects are often attributed to financial factors such as inadequate budget and cost estimation. Unexpected costs can arise during the course of a project, leading to budget overruns and delays. Payment delays or disputes with contractors and suppliers can also contribute to delays in construction projects. Determining the responsibility of the owner, project supervisors, and other parties involved in management and financing is crucial in avoiding complications and risks that could cause delays. This research came to assess the financial factors in delaying construction projects in Iraqi private colleges. (200) of engineers, workers, contractors, and project owners in order to draw conclusions. The research concluded that the financial factors (risk management, financial factors of the owner, financial factors of the contractor, and economic factors) affect the delay of construction projects in Iraqi private colleges.


Keywords

financial factors, delaying construction projects, and economic factors