scholarly journals Delay in payment effects on productivity of small and medium construction companies in Oman: exploration and ranking

2021 ◽  
Author(s):  
Mubarak Al Alawi
Keyword(s):  
Cash Flow ◽  
Questionnaire Survey ◽  
Financial Stability ◽  
Construction Project ◽  
Internal Factors ◽  
Construction Productivity ◽  
Construction Companies ◽  
Productivity Rate ◽  
Delay In Payments ◽  
Productivity Factors

AbstractMaintaining a stable productivity rate in a construction project is a challenge. Many external and internal factors influence it. Delay in payment is one of the factors representing the project cash flow and mirrors the company’s financial stability status. This study explores the delay in payments effects on the construction productivity of the small and medium construction companies in Oman. Also, it ranks the delay in payment among other productivity factors. Sixty-five small and medium construction companies registered in Oman Tender Board participated in the questionnaire survey. The results showed that delay in payment significantly affects the financial stability of the companies. The delay in payment was ranked third out of 21 influencing productivity factors. The results were compared with a previous study that covered large construction companies in Oman. It was found that the rank of delay in payment in the small and medium construction is significantly higher than what was found in large companies.

A novel solution for construction on-site communication – the information booth

2009 ◽  
Vol 36 (4) ◽  
pp. 659-671 ◽  
Author(s):  
Kasun N. Hewage ◽  
Janaka Y. Ruwanpura
Keyword(s):  
Technology Implementation ◽  
New Technologies ◽  
Construction Project ◽  
Communication Tool ◽  
Productivity Improvement ◽  
Construction Productivity ◽  
Construction Companies ◽  
Worker Satisfaction ◽  
Lower Tool ◽  
The University

A recent study on construction productivity improvement at the University of Calgary revealed the direct tool time (working time) of Alberta’s commercial construction to be about 51%. This study exposed inadequate communication and unavailability of required information as the main causes for a relatively lower tool time. Use of information technology (IT) to overcome widely visible communication issues was extremely limited at the construction site level. Construction companies’ hesitation to adopt new technologies was well noted whereas construction workers expressed their willingness and ability to use IT at the site level. The objective of this paper is to discuss the concept and the application of a novel communication tool (called an information booth) developed and pilot tested at a construction project. The concept and the technology presented in this paper have been tested at an actual construction project resulting in improvements in construction productivity, worker satisfaction, and efficiency. This paper also elaborates the rationale for a new technological framework (and the information booth), barriers for technology implementation, research objectives, methodology, and data analysis.

scholarly journals LATE PAYMENT ISSUES OF SUBCONTRACTORS IN MALAYSIAN CONSTRUCTION INDUSTRY

2020 ◽  
Vol 18 (11) ◽  
Author(s):  
Roziha Che Haron ◽  
Ahmad Lutfil Arazmi
Keyword(s):  
Construction Industry ◽  
Cash Flow ◽  
Research Methodology ◽  
Questionnaire Survey ◽  
Construction Projects ◽  
Standard Form ◽  
Survey Analysis ◽  
Construction Companies ◽  
Flow Problems ◽  
Research Findings

The practice of efficient and timely payment in construction projects is a major factor that can contribute to the success of a project. Delays in payment to subcontractor(s) by main contractor and client on construction projects in the Malaysian construction industry is considered to be a significant factor of concern. It causes severe cash flow problems to subcontractor(s) and this condition may lead to a devastating impact to the contractual payment chain. Withholding or delaying payment creates financial hardship for the construction companies and its impacts are sometimes so harsh that some companies have to close down their services. The research methodology adopted was the questionnaire survey analysis based on thirty (37) respondents from selected main contractors and sub-contractors in Gombak, Selangor. The data and information were also gathered from interviews analysis. From the research findings, among the factor of late payment from the client is payment withhold by the client. Meanwhile, the factor of late payment from the main contractor is when the term of “pay when paid” is applied. To improve the payment situation, the findings of this study suggest that there must be dedicated enforcing provisions for payment delay in contracts. This is proposed by introducing the standard form of contract clause regarding payment between the main contractor and domestic subcontractor which include levying charges on overdue payments.

ANALISIS PENGARUH ERUBAHAN TINGKAT SUKU BUNGA SBI DAN PERUBAHAN KURS US$ TERHADAP HARGA PASAR SAHAM SEMEN GRESIK, TBK PERIODE JANUARI 2002 – DESEMBER 2006

2017 ◽  
Vol 4 (1) ◽  
Author(s):  
Oktafalia Marisa ◽  
Maya Syafriana
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Cash Flow ◽  
Stock Price ◽  
External Factors ◽  
Investment Climate ◽  
Internal Factors ◽  
Price Fluctuation ◽  
Two Factors ◽  
Investment Behaviour

<p class="Pendahuluan">Investment climate has begun to rise since a few years ago. Stock price fluctuations keep stable and move to the positive position. Stock price fluctuation affected by two factors, internal factors and external factors. Internal factors consist of company’s cash flow, dividend and investment behaviour. External factors consist of monetary policy, exchange rate, interest volatility, globalization, companies’ competition, and technology. This research, try to find out the effects of SBI rate and exchanged rate (USD/Rp) to PT. Semen Gresik’s stock price.</p><p class="Pendahuluan"> </p><p class="Pendahuluan">Keywords : Investment, stock price, SBI’s rate, and Exchanged rate.</p>

The financial stability of corporations: theoretical aspect

2018 ◽  
Vol 34 (1) ◽  
pp. 161-165 ◽  
Author(s):  
M. V. Zhukova
Keyword(s):  
Financial Market ◽  
Financial Stability ◽  
Theoretical Aspect ◽  
Financial Sustainability ◽  
Effective Demand ◽  
Internal Factors ◽  
The Many

Financial sustainability of corporations is an important multifactorial phenomenon that determines the competitiveness, solvency and capacity of the corporation to innovation and expanded reproduction. In connection with the complex and multipartite financial stability of corporations, the many writers who studied in this field, have different conceptual approaches to the interpretation of this financial category. The financial stability of corporations depends on external and internal factors, priority of which are: competition in the corporate segment, as effective demand for the products, factors and tendencies of development of the financial market.

Application of machine learning in predicting construction project profit in Ghana using Support Vector Regression Algorithm (SVRA)

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Emmanuel Adinyira ◽  
Emmanuel Akoi-Gyebi Adjei ◽  
Kofi Agyekum ◽  
Frank Desmond Kofi Fugar
Keyword(s):  
Machine Learning ◽  
Support Vector Regression ◽  
Cash Flow ◽  
Predictive Accuracy ◽  
Model Development ◽  
Construction Project ◽  
Support Vector ◽  
Sensitivity Index ◽  
Content Type ◽  
Hyperparameter Selection

PurposeKnowledge of the effect of various cash-flow factors on expected project profit is important to effectively manage productivity on construction projects. This study was conducted to develop and test the sensitivity of a Machine Learning Support Vector Regression Algorithm (SVRA) to predict construction project profit in Ghana.Design/methodology/approachThe study relied on data from 150 institutional projects executed within the past five years (2014–2018) in developing the model. Eighty percent (80%) of the data from the 150 projects was used at hyperparameter selection and final training phases of the model development and the remaining 20% for model testing. Using MATLAB for Support Vector Regression, the parameters available for tuning were the epsilon values, the kernel scale, the box constraint and standardisations. The sensitivity index was computed to determine the degree to which the independent variables impact the dependent variable.FindingsThe developed model's predictions perfectly fitted the data and explained all the variability of the response data around its mean. Average predictive accuracy of 73.66% was achieved with all the variables on the different projects in validation. The developed SVR model was sensitive to labour and loan.Originality/valueThe developed SVRA combines variation, defective works and labour with other financial constraints, which have been the variables used in previous studies. It will aid contractors in predicting profit on completion at commencement and also provide information on the effect of changes to cash-flow factors on profit.

Organizational Internal Factors and Construction Risk Management among Nigerian Construction Companies

2017 ◽  
Vol 19 (4) ◽  
pp. 921-938 ◽  
Author(s):  
A. Q. Adeleke ◽  
A. Y. Bahaudin ◽  
A. M. Kamaruddeen
Keyword(s):  
Risk Management ◽  
Structural Equation ◽  
Positive Relationship ◽  
Moderator Variable ◽  
Significant Interaction Effect ◽  
Internal Factors ◽  
Significant Positive Relationship ◽  
Construction Companies ◽  
State Construction ◽  
Construction Risk

Significant number of empirical research works have reported contravening results regarding the effects of organizational internal factors on construction risk management. This prompted the introduction of a moderator variable. This research tested the moderating role of rules and regulations on the relationships between organizational internal factors and construction risk management. Drawing on discouragement and organizational control theory, this research studied the effects of organizational internal factors and rules and regulations on construction risk management among 238 employees operating in Abuja and Lagos State construction companies in Nigeria. Self-administered questionnaires were used to gather the data. Using the partial least squares structural equation modelling (PLS-SEM) for analysis, a significant positive relationship between organizational internal factors and construction risk management was acknowledged. This study also discovered a significant positive relationship between rules and regulations and construction risk management. As expected, rules and regulations was discovered to moderate the relationship between organizational internal factors and construction risk management, with a significant positive result. A significant interaction effect was also discovered between rules and regulations and organizational internal factors. The significance of this study on Nigerian construction industry was also highlighted.

scholarly journals Impact of Construction Productivity Attributes Over Construction Project Performance in Indian Construction Projects

2019 ◽  
Vol 50 (1) ◽  
pp. 89-96 ◽  
Author(s):  
Saurav Dixit ◽  
Kinshuk Saurabh
Keyword(s):  
Construction Projects ◽  
Positive Impact ◽  
Construction Project ◽  
Project Performance ◽  
Construction Productivity ◽  
Complex Projects ◽  
High Degree ◽  
The Relationship ◽  
Creative Construction ◽  
Similar Kind

Performance of a construction project could be influenced by a number of attributes, especially large and complex projects lay additional focus on the success / failure attributes, because of the intensive amount of money invested, a high degree of uncertainty, the complexity of personnel’s required, a multiplicity of goals and problems in coordination between different stakeholders encountered. In this research paper, the author intended to define and examine the relationship and impact of construction productivity (CP) over construction project performance (CPP). The author tests the proposition that there is a positive relationship/impact between both of them. And to test the effect of factors is affecting CP on CPP and to propose a conceptual model on the basis of the analysis. To validate the mathematical validity of factor analysis, Spearman correlation analysis has been performed on the factors. And to check the reliability of all the factors using reliability analysis, and finally test the hypothesis that construction productivity is having a positive impact on project performance using one sample t-test. The findings of the study concluded that there is a positive impact of construction productivity on project performance in Indian construction projects. This paper attempts to identify the relationship between CP and CPP and recommends the framework for the industry to grow sustainably and deliver projects successfully. This study is conducted using a structured questionnaire survey in India and to validate the results of the study similar kind of study is required to be conducted in the other regions of the country to have more reliable findings."This paper is the revised version of the paper that has been published in the proceedings of the Creative Construction Conference 2018: Dixit, S., Mandal, S. N., Thanikal, J. V, & Saurabh, K. (2018). Construction Productivity and Construction Project Performance in Indian Construction Projects, m(July), 379–386. https://doi.org/10.3311/CCC2018-050".

Construction Productivity Factors Affected by the Motivation of Foreign Laborers in Construction Fields

2013 ◽  
Vol 357-360 ◽  
pp. 2599-2602 ◽  
Author(s):  
Yoon Seok Shin ◽  
Jin Dong Kim ◽  
Tae Yong Kim ◽  
Gwang Hee Kim
Keyword(s):  
Social Factors ◽  
Psychological Factors ◽  
East Asian ◽  
Motivational Factors ◽  
Construction Workers ◽  
Foreign Workers ◽  
Economic Factors ◽  
Construction Sites ◽  
Construction Productivity ◽  
Construction Companies

These days, it is necessary to introduce motivational methods for foreign workers on construction sites in order to improve the productivity of Korean construction companies. Therefore, this study aimed to compare the motivational factors of East Asian laborers working on Korean construction fields in order to better understand the characteristics of foreign laborers. Of the motivational factors, economic factors among were considered more important than social and psychological factors for East Asian construction workers. And the importance averages of the construction workers from three ethnic groups were found to be statistically equal in terms of economic and social factors, but were not for psychological factors.

scholarly journals Research on Pre-control of Typhoon Disaster in Construction Site under Extreme Typhoon Climate-- Take typhoon Moranti as an example

2018 ◽  
Vol 53 ◽  
pp. 03082
Author(s):  
Jianxun Deng ◽  
Jing Chen
Keyword(s):  
Construction Project ◽  
Control Level ◽  
Electrical Equipment ◽  
Control Measures ◽  
Impact Factors ◽  
Corporate Management ◽  
Construction Site ◽  
Construction Companies ◽  
Comprehensive Level ◽  
The Impact

This article focuses on the damage to the construction project caused by the strong typhoon “Moranti” No. 14 of 2016 to the coastal city of Xiamen, and further analyzes the characteristics of the extreme typhoon climate, like strong destruction,extensive damage and obvious characteristics of the centralization, and the causes of the damage to the construction project. Leading to the conclusion that the risk items in the construction site mainly include personnel, scaffolds, and mechanical and electrical equipment, etc. Combined with the impact factors of duration, structure scale, economic exposure, and corporate management level, establishing the criteria for judging the extreme typhoon climate risk pre-control level and calculating the comprehensive level according to the level of each element and the weight distribution, and then, put forward pre-control measures and recommendations accordingly for government decision-making and construction companies' reference.

scholarly journals The Nature of Payment Problems in the New Zealand Construction Industry

2011 ◽  
Vol 11 (2) ◽  
pp. 22-33 ◽  
Author(s):  
Thanuja Ramachandra ◽  
James Olabode Rotimi
Keyword(s):  
New Zealand ◽  
Construction Industry ◽  
Cash Flow ◽  
General Construction ◽  
Court Cases ◽  
Significant Percentage ◽  
Construction Companies ◽  
Financial Obligations ◽  
Specific Construction ◽  
Property Developers

Delay and loss of payment is a serious problem in the construction industry of many countries. These affect the cash flow of contractors which is critical to meeting their financial obligations. Payment defaults by the principal leads to insolvency of contractors and in turn other parts of the project chain. In recognition of some of these problems, most countries have established payment-specific construction industry legislation and other contractual measures to mitigate the problems, but nevertheless the problem persists. In this context, the paper examines the nature of payment problems in the construction industry in New Zealand. It is part of a larger study, that seeks solutions to payment losses in the construction industry.The study uses two approaches; an analysis of liquidators’ reports, and an analysis of court cases involving payment disputes to determine the magnitude of payment problems on construction parties. The findings are presented using simple descriptive and interpretive analyses. The study finds that trade creditors are impacted negatively (payment delays and losses) by the liquidation of property developers, general construction and construction trade companies. 75% of trade creditors are unable to be paid fully by these categories of construction companies after liquidation proceedings. Liquidation proceedings take an average 18 months before they are finalised. The analysis of court cases found that 80% of payment disputes are between principals and contractors; with considerably significant percentage of disputes resulting in outright loss of payments. Only 40% of the cases are successful, in which case claimants are able to fully recover the amount in dispute. Payment losses are more prevalent in liquidation than delays and unlike in legal disputes, there is no security for those losses. The study finds that construction parties use remedies contained in the security of payment provisions within standard conditions of contract, and legislative documents.

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