Download PDFOpen PDF in browserRethinking the Study of Cost Overruns: A Review and Path Forward10 pages•Published: June 2, 2026AbstractDespite decades of research, cost overruns in construction projects, especially large-scale infrastructure, remain a persistent global issue. Extensive literature has examined this topic, with most studies focusing on identifying the causes of cost overruns. However, significant disagreement remains among researchers regarding their root causes. This paper critically examines these divergent perspectives to work toward a common understanding through narrative synthesis and deductive reasoning. An exploratory literature review supported by Natural Language Processing (NLP) was then conducted to identify commonly overlooked themes in cost overrun research, clarify conceptual and methodological shortcomings, and outline directions for future inquiry. The review identified three recurring gaps: an overreliance on perception-based studies, insufficient attention to exogenous factors, and a limited examination of causal relationships and underlying root causes. This paper contributes by integrating perspectives on the debated root causes of cost overruns into a cohesive framework that articulates where and why, current understandings diverge. It calls for a transition toward empirically grounded, data-driven methodologies that capture the complex interdependencies among causes while incorporating both endogenous and exogenous factors, including political and institutional influences. These contributions strengthen theoretical development and promote more robust, evidence-based approaches to understanding and managing cost overruns.Keyphrases: construction project management, cost management, cost overrun In: Wesley Collins, Anthony Perrenoud and John Posillico (editors). Proceedings of Associated Schools of Construction 62nd Annual International Conference, vol 7, pages 881-890.
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