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Construction projects are carried out under the triple constraint of cost, time, and scope, as stated in the project management literature. However, time and cost deviations in the construction industry are frequent, and their magnitude in many cases is considerable, generating harmful consequences. This paper developed a literature review to examine 33 research papers published since 1988 in the Web of Science database to identify the main factors causing these deviations, demonstrating that there is no evidence that it is a problem exclusive from a region, country, or project type. A list of 74 factors has been identified from the top ten reported in each paper. The factors were grouped, taking into account their origin. Simultaneously through literature review, tools, methods, and approaches of Lean Construction were also identified, and after an analysis of its nature, these tools were assigned to the previously identified factors considering the possibilities to mitigate their effects. For more than 88% of the identified factors, a Lean tool, method, or approach was identified, demonstrating that both topics are related, and the body of literature developed must be integrated.