This study was carried out on the basis of literature review and the questionnaire survey on selected construction projects with 5-point Likert scale and earned value analysis to know the opinion of different parties involved. The questionnaire contained statements on practices adopted of extension of time in construction field, consequences of extension of time in the project’s cost and time and impacts of extension of time in the project’s performance through literature review. The different timing of the extension of time claim were identified for the practices of extension of time adopted in the Hupsekot Rural Municipality and the study focused the consequences of extension of time in the projects’ cost and time and the real factors for the projects time and cost overrun were also studied from Earned Value Analysis. Also, the impacts of extension of time in the project’s performance were tested through Hypothesis test method. Total of four statements from practices adopted in construction, seventeen statements from the consequences of extension of time and four statements from the impacts of extension of time in projects performance were established and administrated on twelve projects for collecting the information in Hupsekot Rural Municipality. The identified results were analyzed with Relative Importance Index (RII) and Ranking.