Problems and Solutions of Construction Budget Overruns in China's Engineering Projects

Abstract

The rapid development of the construction industry has driven the construction of engineering projects in China. However, there are currently many construction projects with budget overruns, resulting in reduced economic benefits of the project. Therefore, this paper elaborates the importance of construction budget of engineering projects, and then proposes the reasons for construction budget overrun of engineering projects: imperfect construction budget plan, lack of supervision in the implementation of construction budget plan, insufficient level of cost management personnel, and construction materials affected by the supply market. Finally, we propose measures to solve the budget overrun of engineering project construction: improve the project construction budget plan, strengthen the supervision of the implementation of the project budget plan, improve the professional skills of budget staff, and stabilize the supply price of construction materials.