Factor-based target cost modelling for construction projects

2018 ◽  
Vol 45 (5) ◽  
pp. 393-406 ◽  
Author(s):  
Aladdin Alwisy ◽  
Ahmed Bouferguene ◽  
Mohamed Al-Hussein
Keyword(s):  
Construction Projects ◽  
Clear Understanding ◽  
Value Analysis ◽  
Construction Companies ◽  
Target Cost ◽  
Cost Modelling ◽  
Building Components ◽  
And Performance ◽  
Efficient Exploration ◽  
Design Estimate

Target value design (TVD) principles set the main guidelines for the design-estimate process that allow the efficient exploration of available construction alternatives, thereby helping construction companies to reduce cost-to-design, cost-to-build, and improve the quality of construction projects. The successful application of TVD requires a clear understanding of the interactions among construction components. The proposed target cost modelling approach introduces an algorithmic factor-based framework to advance TVD that supports the design-estimate process by examining the relationships among building components, their direct and indirect impact on project overall cost and value. Construction factors control compatibility and performance analysis among available construction alternatives. Costing factors contribute to the development of mathematical costing models capable of automatically calculating the cost of compatible alternatives. Finally, rule-based analysis, developed under an appropriate programming environment, executes alternative value analysis to develop a detailed estimate with an improved overall value for construction projects.

scholarly journals 3.1. VALUE ANALYSIS IN CONSTRUCTION PROJECT MANAGEMENT

2021 ◽  
pp. 37-41
Author(s):  
Ю. Лю ◽  
А.Т. Зуб
Keyword(s):  
Construction Projects ◽  
Creative Thinking ◽  
Value Engineering ◽  
Construction Project Management ◽  
Quality Cost ◽  
Value Analysis ◽  
Management Technology ◽  
Efficiency And Effectiveness ◽  
Implementation Stages ◽  
And Performance

Функционально-стоимостный анализ (или стоимостная инженерия) – это относительно новая технология управления, которая надежно реализует необходимые функции продукта с наименьшими затратами в течение жизненного цикла проекта и фокусируется на организованных действиях функционального анализа, который оптимизирует затраты и производительность. Конечной целью любой деятельности является улучшение функции ценности и снижение затрат на ее достижение, а способ достижения этого – сравнение альтернатив и выбор лучшей из предложенных на основе творческих методов. Стоимостная инженерия применяется в управлении строительными проектами. Ее основным применением является анализ качества проекта, стоимости и времени на его реализацию для повышения эффективности и результативности управления проектами. Value Analysis (Value engineering) is a relatively new management technology, based on the lowest Life Cost Cycle (LCC) and focuses on organized functional analysis activities that optimize costs and performance. The ultimate goal of the activity is to improve the value function and reduce costs, and the key is to compare and choose the best plan with creative thinking methods. Value engineering is applied to the management of construction projects. The most basic application is a qualitative analysis of project quality, cost and time, using the "preparation – analysis – innovation – implementation" stages of work to improve the efficiency and effectiveness of project

Energy-based target cost modelling for construction projects

2018 ◽  
Vol 20 ◽  
pp. 387-399 ◽  
Author(s):  
Aladdin Alwisy ◽  
Beda Barkokebas ◽  
Samer Bu Hamdan ◽  
Mustafa Gül ◽  
Mohamed Al-Hussein
Keyword(s):  
Construction Projects ◽  
Target Cost ◽  
Cost Modelling

scholarly journals Forecasting techniques in construction industry: earned value indicators and performance models

2020 ◽  
Vol 29 (2) ◽  
pp. 234-243
Author(s):  
Firas Jaber ◽  
Faiq Al-Zwainy ◽  
Nidal Jasim
Keyword(s):  
Performance Index ◽  
Construction Projects ◽  
Performance Indicator ◽  
Tall Buildings ◽  
Earned Value ◽  
Cost Performance ◽  
Value Analysis ◽  
Earned Value Analysis ◽  
New City ◽  
And Performance

Machine Learning Regression Techniques (MLRT) as a shrewd method can be utilized in this study being exceptionally fruitful in demonstrating non-linear and the interrelationships among them in problems of construction projects such as the earned value indexes for tall buildings projects in Republic of Iraq. Three forecasting models were developed to foresee Schedule Performance Index (SPI) as first model, Cost Performance Index (CPI) as a second model, and the third model is To Complete Cost Performance Indicator (TCPI) in Bismayah New City was chosen as a case study. The methodology is mainly impacted by the deciding various components (variables) which impact on the earned value analysis, six free factors (X1: BAC, Budget at Completion; X2: AC, Actual Cost; X3: A%, Actual Percentage; X4: EV, Earned Value; X5: P%, Planning Percentage, and X6: PV, Planning Value) were self-assertively assigned and agreeably depicted for per tall buildings projects. It was found that the MLRT showed good results of estimation in terms of correlation coeffi cient (R) generated by MLR models for SPI and CPI and TCPI where the R were 85.5%, 89.2%, and 86.3% respectively. At long last, a result tends to be presumed that these models show a brilliant concurrence with the genuine estimations.

scholarly journals Acquisition of Materials and Performance of Road Construction Projects in Kenya: A Case of Nairobi County

2016 ◽  
Vol 12 (32) ◽  
pp. 221
Author(s):  
Msafiri Atibu Seboru ◽  
Angeline Sabina Mulwa ◽  
Dorothy Ndunge Kyalo ◽  
Charles M. Rambo
Keyword(s):  
Significant Influence ◽  
Construction Projects ◽  
Road Construction ◽  
Research Approach ◽  
Statistical Tools ◽  
Cross Sectional ◽  
Construction Companies ◽  
Engineering Firms ◽  
And Performance ◽  
Consulting Engineering

This study sought to establish the influence of acquisition of materials on performance of road construction projects in Kenya: A case of Nairobi County. The objective of the study was to establish the extent to which acquisition of materials influences performance of road construction projects in Kenya. This study was anchored on the theory of controlling, theory of construction management, and stakeholder theory. The paradigm used was pragmatism and the research approach used was mixed methods. Cross sectional descriptive survey and correlational research design were used. The sample size was 74 senior engineers which comprised 30 senior engineers from consulting engineering firms and 44 senior engineers from construction companies; 74 managing directors which comprised 30 managing directors from consulting engineering firms and 44 managing directors from construction companies. A five point Likert type scale questionnaire was used to collect quantitative data while interview guides were used to collect qualitative data. The statistical tools of analysis that were used for descriptive data were frequencies, percentages, arithmetic mean and standard deviation while the statistical tools that were used for inferential statistics were Pearson’s Product Moment Correlation and Linear Regression. The Fisher (F) test was used to test the hypotheses. The results indicated that with R²=0.246, F(6,40)=2.173, p=0.066>0.05, H1 was rejected and it was concluded that acquisition of materials had no statistically significant influence on the performance of road construction projects. However, establishment of quantities of materials required had a statistically significant influence on the performance of road construction projects. The study recommends that organizations that deal with road construction should have appropriate policies on establishment of quantities of materials required.

REVIEW AND ADOPT A TOOL FOR MEASURING SAFETY CLIMATE IN INTERNATIONAL CONSTRUCTION PROJECTS

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Ran Gao ◽  
Albert P. C. Chan ◽  
Wahyudi P. Utama ◽  
Hafiz Zahoor
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Safety Climate ◽  
Safety Management ◽  
Safety Behavior ◽  
Construction Companies ◽  
Construction Market ◽  
International Construction ◽  
And Performance ◽  
Construction Safety Management

The construction industry is deemed to be one of the most dangerous industries worldwide due to its special characteristics of production process. Globalization has brought about an increasing number of construction companies involving themselves in the international construction market. Due to involvement of participants from different countries and regions, international construction projects possess complexities from national, organizational and individual perspectives which may affect construction safety management adversely and lead to unsatisfactory safety performance. Safety climate, defined as “a unified set of cognitions regarding the safety aspects of the organization”, is often considered to be a predictor of safety behavior and performance. After conducting a comprehensive review of existing literature related to safety climate measurement in construction sector, this study highlights several conditions for selecting suitable safety climate instruments specific in international construction projects.

Improvement of the Methods of Disclosure of Financial Results in the Financial Statements of Construction Companies

Auditor ◽  
2016 ◽  
Vol 2 (5) ◽  
pp. 11-18
Author(s):  
Гаджиева ◽  
P. Gadzhieva
Keyword(s):  
Construction Projects ◽  
Financial Statements ◽  
Construction Companies ◽  
Construction Products ◽  
And Performance ◽  
Construction Works

Th e article considers the main problems of formation of fi nancial results of realization of construction products (construction projects, construction works) in fi nancial accounting and reporting. Th e article proposes a methodology for the disclosure of such information in fi nancial statements using the sub-accounts, accounting records and performance.

Framework for target cost modelling in construction projects

2018 ◽  
Vol 20 (2) ◽  
pp. 89-104 ◽  
Author(s):  
Aladdin Alwisy ◽  
Ahmed Bouferguene ◽  
Mohamed Al-Hussein
Keyword(s):  
Construction Projects ◽  
Target Cost ◽  
Cost Modelling

Constraints and opportunities facing construction organization in post-conflict condition in Afghanistan

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Qais Amarkhil ◽  
Emad Elwakil
Keyword(s):  
Matrix Analysis ◽  
Content Type ◽  
Construction Firms ◽  
Construction Companies ◽  
Post Conflict ◽  
Conflict Condition ◽  
Local Construction ◽  
And Performance ◽  
Construction Organization ◽  
Critical Constraints

Purpose Although there are many challenges and constraints for construction organization operation and performance in a post-conflict condition, there is insufficient construction project management literature. Therefore, the purpose of this paper is to identify a framework to understand and determine critical constraints and opportunities in a post-conflict condition facing local construction firms in Afghanistan. The proposed framework is composed of three major steps: identify and determine key performance indicators; identify challenges impacting organization operation and performance in post-conflict condition; determine critical constraints and opportunities based on prioritized performance measures; and organizational strength and weakness factors. Design/methodology/approach The strength, weakness, opportunities and threat matrix analysis has been used to determine post-conflict condition constraints and opportunities. Then the analytical hierarchy process has been used to prioritize the measures and identify the constraints and opportunities facing construction companies in a post-conflict situation. The mix-research method is applied to this study to analyse qualitative variables and quantitative variables obtained from the experts’ opinions and 51 filled questioners. Findings The study shows that there are a total of 11 critical constraints and three essential opportunities for construction companies that industry practitioners and policymakers should take into account while formulating the organizational strategy. Practical implications The developed framework will benefit construction companies in improving their performance and operation in after-conflict conditions. Originality/value This paper is the first to provide a comprehensive conceptualization of the challenges and constraints for construction organization operation and performance in a post-conflict condition. It also offers a novel conceptual framework to understand and determine critical constraints and opportunities in a post-conflict condition facing local construction firms in Afghanistan.

scholarly journals Measuring the performance of project risk management: a preliminary model

2019 ◽  
Vol 11 (1) ◽  
pp. 1984-1991
Author(s):  
Alfredo Federico Serpell ◽  
Ximena Ferrada ◽  
Larissa Rubio
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Research Literature ◽  
Lessons Learned ◽  
Project Risk Management ◽  
Project Risk ◽  
Know How ◽  
Construction Companies ◽  
Important Concern ◽  
Preliminary Model

Abstract The function of project risk management (PRM) is to understand the uncertainty that surrounds a project and to identify the potential threats than can affect it as well as to know how to handle these risks in an appropriate way. Then, the measurement of the performance of PRM becomes an important concern, an issue that has not yet been addressed in the research literature. It is necessary to know how successful the application of the PRM process is and how capable is the process within the organization. Regarding construction projects, it is essential to know whether the selected responses to mitigate or eliminate identified risks were suitable and well implemented after the execution of the project. This paper presents a critical analysis of the relevance of measuring the performance of PRM and the benefits of doing so. Additionally, it presents a preliminary and pioneering methodology to measure the performance of PRM through the evaluation of the adequacy of responses applied to mitigate risks as well as to evaluate the resulting impacts as indicators of the effectiveness of these actions at the end of the project. This knowledge will allow construction companies to incorporate good practices, generate lessons learned, and thereby to promote a continuous improvement of the whole PRM process.

scholarly journals Application of BIM and 3D Laser Scanning for Quantity Management in Construction Projects

2020 ◽  
Vol 2020 ◽  
pp. 1-10
Author(s):  
Thu Anh Nguyen ◽  
Phong Thanh Nguyen ◽  
Sy Tien Do
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Laser Scanning ◽  
Essential Role ◽  
Industrial Revolution ◽  
Management Process ◽  
3D Laser Scanning ◽  
Economic Sectors ◽  
Construction Companies

The construction industry has played an essential role in the process of modernization and industrialization and it has also been a major factor in determining the development of the infrastructure for other economic sectors. Construction companies consider the measurement of work progress, which often wastes time and has a low resolution, to be one of the most challenging problems faced by project management. Therefore, this research aimed to propose practical solutions by applying recent technological achievements of the 4.0 industrial revolution to improve the efficiency of the quantity management process. By utilizing the advantages and features of a BIM model and 3D laser scanning, this paper proposes that adopting a BIM model and 3D laser scanning has the potential to improve the accuracy and efficiency of the quantity management process. The case study demonstrated some typical tasks to evaluate accuracy and efficiency as well as to showcase the research proposal.

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