Impact of Risk Attitude on Risk, Opportunity, and Performance Assessment of Construction Projects

2021 ◽  
pp. 875697282098567
Author(s):  
Abroon Qazi ◽  
Abdelkader Daghfous ◽  
M. Sajid Khan
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Risk Attitude ◽  
Project Performance ◽  
Performance Assessments ◽  
Multiple Dimensions ◽  
Expected Performance ◽  
Project Uncertainty ◽  
And Performance ◽  
The Impact

This article explores the impact of risk attitude on the assessment of project uncertainty encompassing both risk and opportunity and expected project performance. A survey was conducted involving project risk management experts from the construction industry, and the data collected were analyzed using various statistical techniques. The findings reveal that the impact of risk attitude significantly varies across multiple dimensions of project uncertainty and project performance. To the best of the authors’ knowledge, the association between risk attitude and project uncertainty and expected performance assessments has never been explored while capturing multiple dimensions of project uncertainty and performance.

Impact of COVID-19 on project performance in the UAE construction industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Sami Ur Rehman ◽  
Muhammad Tariq Shafiq ◽  
Muneeb Afzal
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Construction Project ◽  
Health And Safety ◽  
Project Performance ◽  
Content Type ◽  
Government Institutions ◽  
Depth Analysis ◽  
The Government ◽  
The Impact

Purpose The coronavirus disease 2019 (COVID-19) pandemic has affected the global economy and, thus, the global construction industry. This paper aims to study the impact of COVID-19 on construction project performance in the United Arab Emirates (UAE). Design/methodology/approach This study adopted a qualitative and exploratory approach to investigate the impact of COVID-19 and its policies on project performance in the UAE construction industry in critical areas of the project management body of knowledge (e.g. schedule, cost, resources and contracts). Semi-structured interview questions were asked from ten construction professional to obtain valuable insights into the pandemic’s effects on the UAE construction industry and the effectiveness of policies implemented to rectify the damage and identify the industry’s new normal. Findings The findings indicate that the construction industry faced several challenges such as schedule delays, disrupted cashflows, delayed permits, approvals and inspections, travel restrictions, serious health and safety concerns, material and equipment shortages, among others which hindered the timely delivery of construction projects. It also indicates that efforts made by the government institutions and the construction industry of the UAE such as economic support programs, digitization of processes, fee and fine waivers, health facilities, among other statutory relaxations proved effective in supporting the construction industry against the adverse effects of the pandemic. Research limitations/implications The research findings are limited to the literature review and ten semi-structured interviews seeking an expert’s opinion from industry professionals working in the UAE construction industry. The research team did not get access to project documents, contracts and project progress reports which may be required to validate the interview findings, and to perform an in-depth analysis quantifying the impact of COVID 19 on construction projects performance, which is a limitation of this research. Practical implications The implication is that, owing to the imposed lockdowns and strict precautionary measures to curb the rapid spread of the pandemic, smooth execution of the construction project across the country was affected. The government institutions and stakeholders of the construction projects introduced and implemented various techniques and solutions which effectively handled the implications of the COVID-19 pandemic on the construction industry of the UAE. Originality/value This study has identified the challenges faced by the construction industry of the UAE in the context of the management of project schedule, project cost, construction contracts, health and safety of construction employees and other related aspects of the construction projects. This study also identified the techniques and solutions adopted by various public and private institutions of the country and their implications on construction projects. Therefore, this study provides guidelines for policymakers and future research studies alike.

scholarly journals The Impact of the COVID-19 on the Construction Industry in Vietnam

2021 ◽  
Vol 8 (3) ◽  
pp. 47-61
Author(s):  
Van Tam Nguyen ◽  
Bao Ngoc Nguyen ◽  
Toan Quoc Nguyen ◽  
Hai Tuan Dinh ◽  
Anh Tung Chu
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Project Performance ◽  
Construction Sector ◽  
Limited Data ◽  
Online Questionnaire ◽  
General Sense ◽  
Importance Index ◽  
Wide Range ◽  
The Impact

The COVID-19 pandemic has generated a wide range of socio-economic disruption, which causes devastating in numerous aspects. Our knowledge of the true health of the construction industry under the ravage of COVID-19 outbreak is largely based on very limited data. This study aims to assess the impact of pandemic on the construction industry through an investigation in Vietnam. Data were collected through 129 respondents whose online questionnaire survey completed according to their recent direct or indirect participation in delivering construction projects during the spread. The implications of COVID-19 on the construction industry were examined based on simple percentage analysis and Relative Importance Index approaches. Three principal facets of the construction industry were considered: firms' business activities, project performance, and workforce demand. The findings highlighted the multilevel, multidimensional nature of the epidemic consequences on the construction sector. Notably, the revenue and profitability, in a general sense, have decreased during the COVID-19 period, while most of the production and business costs had remained unchanged. Further, the pandemic was argued to impair construction practitioners' incomes and mental health and sabotage projects' schedule and cost.

The Impact of Terrorism on Construction Industry in Iraq

2015 ◽  
Vol 3 (2) ◽  
pp. 69-84
Author(s):  
Wadhah Amer Hatem ◽  
Samiaah M. Hassen Al-Tmeemy
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Historical Data ◽  
Terrorist Attacks ◽  
Construction Sector ◽  
Statistical Procedures ◽  
Qualitative Approaches ◽  
Suicide Attacks ◽  
The Face ◽  
The Impact

     Suicide attacks, bombings, explosions became the part of daily life in Iraq. Consequently, the threat of terrorism put the Iraqi construction sector in the face of unique and unusual challenges that not seen on other countries. These challenges can have extensive impact on construction projects. This paper seeks to examine the impact of the terrorist attacks on construction industry and determine the extent to which the impact of terrorism on construction projects in terms of cost, schedule, and quality. This study adapted quantitative and qualitative approaches to collect data using questionnaire survey and interviews, as well as historical data. The study focused on projects that have been the target of terrorist strikes in Diyala governorate. A variety of statistical procedures were employed in data analysis. The results revealed the extent to which terrorist attacks impact construction projects in terms of cost, time, and quality. The results of this study will enhance the awareness of all construction parties to the impact of the terrorist attacks against construction projects. Eventually, this can develop a risk management assessment and assist contractors to properly protect projects and buildings to minimize injuries and fatalities in the event of terrorism.

scholarly journals Investigating Rework: Insights from the Malaysian Construction Industry

2021 ◽  
Vol 14 ◽  
pp. 1-9
Author(s):  
Jeffrey Boon Hui Yap ◽  
Shi Min Tan
Keyword(s):  
Quality Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Poor Quality ◽  
Project Performance ◽  
Statistical Techniques ◽  
Cost Overruns ◽  
Delivery Performance ◽  
Communication Design ◽  
Design Changes

Construction practitioners recognise that rework is undesirable due to the detrimental effects. While rework literature has examined rework causation factors in construction projects, the problem continues to plague the industry resulting in poor delivery performance. To better understand this phenomenon and given the scarcity of Malaysian-based rework study, a questionnaire survey involving 130 Malaysian construction practitioners (consultants, contractors and clients) were undertaken to obtain feedback about nature, implications, causes and solutions for rework. Data were analysed using descriptive statistical techniques to prioritise the variables studied. From the analyses, rework is a causal factor for delays and cost overruns, higher wastage and productivity inhibitor. The findings revealed the leading causes of rework are poor quality management, improper planning, lack of communication, design changes and poor subcontractor management. Some practical rework minimisation approaches are also suggested to better manage and prevent rework towards enhanced project performance.

scholarly journals Investigating Variation Orders Causes in Iraqi Building Construction Projects

2021 ◽  
Vol 318 ◽  
pp. 02003
Author(s):  
Hassan Kamal Alhilli ◽  
Sedki I. Rezoqi
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Harmful Effect ◽  
Fuzzy Cognitive Map ◽  
Future Research ◽  
Change Orders ◽  
Management Processes ◽  
And Performance ◽  
The Relationship ◽  
Comprehensive Reference

Changes are a common phenomenon in the construction industry, impacting the project's cost, time, and performance. The purpose of this work is to a comprehensive review relating to variation order causes. Also, the aim here is to determine variation order causes in the building’s construction. More importantly, explore the relationship between these causes. However, the importance of specifying the causes for change orders is the first step in managing variation orders to reduce the harmful effect on a project. The field survey was conducted for several institutions such as health (Karkh’s health), higher education (University of Baghdad and University of Kufa). As a result, a field visit was made to the project sites. They were then, Conducting interviews with the resident engineer, the consultant, and the contractor. A developer tool called cause (variation orders) breakdown structure (CBS) included 12 causes at the first level, including 103 sub-causes. There is a relationship between the variation orders causes, which is evident in the third level. The study recommends adopting (CBS) a comprehensive reference for variation order causes in projects due to facilitating their management processes. Future research could examine the relative importance of variation order causes, in addition to using a fuzzy cognitive map to find the extent of each cause’s influence on the other.

scholarly journals Integrated model for the stressors, stress, stress-coping behaviour of construction project managers in the UK

2018 ◽  
Vol 11 (3) ◽  
pp. 761-782 ◽  
Author(s):  
Shamil George Naoum ◽  
Carlos Herrero ◽  
Charles Egbu ◽  
Daniel Fong
Keyword(s):  
Construction Industry ◽  
Structural Equation Modelling ◽  
Structural Equation ◽  
Construction Project ◽  
Project Managers ◽  
Stress Coping ◽  
Content Type ◽  
Equation Modelling ◽  
And Performance ◽  
The Impact

Purpose It is axiomatic that construction is a fast-paced and competitive industry, which goes hand in hand with many construction professionals suffering from stress including construction project managers (C-PMs). The role of C-PMs is crucial to achieving project success as they are responsible for planning the project, organising human resources, controlling operations and the budget, and forecasting probable difficulties. The purpose of this paper is to investigate the causal relationships between stressors, stresses, stress-coping behaviours and their impact on the performance of C-PMs. Design/methodology/approach To investigate the relationships between stress and performance among C-PMs, a questionnaire was designed based on the extensive literature, and was sent to 150 C-PMs who had amassed at least five years’ direct working experience in the construction industry. A total of 44 completed questionnaires were returned. Correlation analysis and structural equation modelling were employed to understand the integrated relationships between these factors. Based on the data collected and analysis of the results, an integrated structural equation model of the stresses and performances of C-PMs was developed using AMOS version 22.0. Findings The results of structural equation modelling reveal the following: burnout is the type of stress that has the highest impact on the performance of C-PMs, being detrimental to their interpersonal performance (IPP) and positive for their organisational performance (OP), whereas physiological stress worsens the task performance of C-PMs and objective stress improves their IPP. The most active stressor towards the performance of C-PMs is “workgroup cooperation”, which has an impact on the IPP in a positive way but is detrimental to the OP. Career-developing environment, poor organisational structure and role conflict affect both stress and performance together. Originality/value This study provides a comprehensive investigation into the impact of various types of stress on the performances of C-PMs. The result constitutes a significant step towards the stress management of C-PMs in the dynamic and stressful construction industry.

scholarly journals ANALISIS KETERLAMBATAN PROYEK SERTA DAMPAKNYA TERHADAP BIAYA DAN WAKTU PELAKSANAAN PROYEK

2019 ◽  
Vol 5 (1) ◽  
pp. 13-19
Author(s):  
Fitri Nur Kharina ◽  
Kusno Adi Sambowo
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Project Performance ◽  
Project Work ◽  
Earned Value ◽  
Time Period ◽  
Review Period ◽  
The Difference ◽  
The Cost ◽  
The Impact

Construction projects in all regions continues to be developed for the creation of facilities that can be utilized by the community. One of them is the construction of apartments which are now being intensively carried out to meet residential needs for the community. Making a construction project plan always refers to estimates that exist at the time development plan is made, therefore problems can arise if there is a discrepancy between the plans that have been made and the actual reality. So the impact that often occurs is the delay in the time of project implementation which can also be accompanied by an increase in the cost of implementing the project. In the construction project of Cinere Terrace Suites Apartemen & Citywalk, Jakarta there was a delay resulting in a late payment of monthly bill progress by the owner. Based on the above reasons, this research was conducted to find out how the project performance was seen from the cost and time period of the review period. how is the estimated cost and time to complete the overall project work. The method used in the analysis of this study is the Earned Value Method. Based on the results of the analysis carried out for 29 weeks the project performance on schedule has been delayed and cost shows a positive value. For the estimated completion time of the project there is an increase in time whose duration increases from the planned 98 weeks or 685 days to 109,624 weeks or 768 days. While the estimated cost of completing the project from the results of the analysis obtained a value of Rp. 270,147,448,569.16 smaller than the planned cost of Rp. 315,272,727,272.73. With the difference VAC of Rp. 45,125,278,703.57 this shows that there are benefits obtained by the contractor.

FACTORS CAUSING PROBLEMS IN MANAGING CONSTRUCTION PROJECTS IN A COUNTRY UNDER MILITARY OCCUPATION: Contractors’ Perspective

2016 ◽  
Vol 05 (07) ◽  
pp. 01-07
Author(s):  
Akram Subhe Suleiman ◽  
Jafar Subhi Hardan Abahre
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Project Managers ◽  
Project Manager ◽  
Military Occupation ◽  
The Political ◽  
Clear Understanding ◽  
Team Members ◽  
Political Situation ◽  
The Impact

An exhaustive literature search revealed that not much research has been done on factors causing problems in managing a construction project in a country under military occupation like Palestine. So, it is the main goal of this research is to identify these factors which could be used by the decision makers to select the appropriate project manager who bosses the suitable skills and competencies to deal with these problems. The study is a step toward determining means to improve the effectiveness of projects through identifying project manager competencies. It is important for Palestinian construction industry to progress in terms of project success; the problems that face the project managers must be determined and identified, in order to achieve the best results with less risk. A clear understanding of such problems helps the Palestinian construction industry of finding the suitable solutions to overcome these problems. A questionnaire survey was carried out to achieve the main aim of this research. The respondents were engineers have more than 3 years in the position of project manager in the Palestinian construction industry. The survey was based on factors drawn from findings of another researches in different countries, together with special factors identified as potentially affecting Palestine. The results identified many factors created problems; they were clustered in eight groups. These groups were arranged according to respondents in descending order as follows: the political situation of Palestine, lack of consultants` technical competencies, lack of resources, insufficient planning, team members uncommitted, conflicts between departments, breakdowns in communications, and changes in goals. As a result of this study one could conclude that managing a project in Palestine is as difficult as the complication of the political situation of the country. The project manager should have a complicated mixture of skills and competencies from dealing with Israeli occupation to dealing with stakeholders to lack of resources and unclear goals. The study has recommended to the Palestinian government to improve the regulations and laws to meet the impact of closure and segmentation of the Palestine.

scholarly journals The Contribution of Workers’ Attributes on Sustainability of Construction Project Realization Goals—Survey on the Impact on Productivity in Croatia

2020 ◽  
Vol 12 (23) ◽  
pp. 9946
Author(s):  
Držislav Vidaković ◽  
Marijana Hadzima-Nyarko ◽  
Saša Marenjak
Keyword(s):  
Labor Productivity ◽  
Cognitive Skills ◽  
Construction Projects ◽  
Eastern Region ◽  
Structured Interviews ◽  
Physical Strength ◽  
Previous Decade ◽  
Worker Characteristics ◽  
And Performance ◽  
The Impact

The work of workers is still dominant in the realization of most construction projects and therefore has a great impact on the productivity of contractors and, thereby, on the sustainability of realization of the goals of contractors and clients. This article provides an overview of the results of more than 100 studies from the previous decade on the impacts of factors related to the personal attributes of workers on the productivity and performance of construction projects. Based on the reviewed literature and semi-structured interviews with experienced professionals in the construction industry, the relation between worker characteristics and other influences on labor productivity is defined and a list of worker characteristics suitable for research in Croatia is compiled. A survey of 262 workers, engineers, and managers from construction industries of Croatia’s eastern region, Slavonia and Baranja, showed that the worker characteristics that most influence labor productivity are experience and dexterity. It was also noticed, with a high correlation between the different groups of respondents, that physical strength and morale and morality of the workers were rated as highly influential, while education level was rated as the least influential. The research results are useful because they indicate the possibility of significantly improving the productivity of construction contractors by selecting workers with appropriate physical abilities and cognitive and non-cognitive skills, as well as developing a suitable system for training and motivation of employees.

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