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Risks of Highway Construction in the Republic of Croatia in Regards to the Research of Cost Overruns

Studies of cost overruns show that the frequency of exceeding the planned construction costs is in the range from 80 to 90%, and the span is from 20% to 164% planned cost. Results obtained by research depend on methodology of the survey, data processing, sample size and definition of estimated cost. However, the large span of cost overruns across different countries also points out to the impact of countries specificities as the environment in which the project was conducted. Development of the system for reduction overruns efficiency in identifying and risk management and quality of project definition varies among the states. The paper will present the results of the survey of construction experts that will help in defining the environment of road infrastructure projects in the Republic of Croatia. The survey was conducted in relation to the risks that followed the construction of the motorway network in the Republic of Croatia. The survey point out to the specificities of the Republic of Croatia as a project environment in terms of its historical economic heritage, the lack of systematic cost estimation and the governance of projects from the Government point of view. Furthermore, the result of the study are the most significant risks in the opinion of practitioners regarding the construction of individual motorway projects. In addition, with risk ranking, have been made preparations to assess the impact of risk on cost overrun and further research of cost overruns in the Republic of Croatia.

Republic of Croatia, Highway, Cost overruns ; Risks ;

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