AWARENESS OF CRYPTOCURRENCIES AMONG CONSTRUCTION PROFESSIONALS

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Mehmet İlker Genç ◽  
Aslı Pelin Gürgün
Keyword(s):  
Construction Industry ◽  
Firm Size ◽  
Construction Projects ◽  
Payment System ◽  
Payment Systems ◽  
Construction Companies ◽  
Payment Methods ◽  
Technological Developments ◽  
Natural Result ◽  
Day By Day

Recent technological developments are gradually causing changes and transformations in the existing global money and payment systems. The worldwide interest in electronically created cryptocurrencies as an alternative payment system is growing day by day. As a natural result of this interest, the payment system has been receiving attention with the potential to integrate into project processes as an alternative to traditional payment methods. The construction industry is one of the sectors, where cryptocurrencies could be integrated into several processes including money transactions. In this study, the awareness of cryptocurrencies among construction professionals and the possibility of their use in the future projects are investigated. For this purpose, a survey was prepared and administered to 284 professionals working in construction companies in Turkey. The collected results showed that the awareness of cryptocurrency among construction professionals changed based on firm size by revenue and having international or national operations. In general, it could be stated that cryptocurrencies would be considered as an alternative payment tool in the construction projects as the awareness increases.

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.

Roles of Contractors in Implementing Quality Assessment System in Construction (QLASSIC) in Construction Projects

2021 ◽  
Vol 15 (S1) ◽  
pp. 53-69
Author(s):  
Mohd Shazreen Seman ◽  
Mohd Reza Esa ◽  
Mohd Reeza Yusof
Keyword(s):  
Quality Assessment ◽  
Construction Industry ◽  
Construction Projects ◽  
Poor Quality ◽  
Technical Committee ◽  
Assessment System ◽  
Construction Companies ◽  
Industry Standard ◽  
The Government ◽  
Questionnaire Surveys

In recent decades, the construction industry has been widely criticized for its lack of efficiency and productivity, and it has been shown that the Malaysian construction industry records poor quality on its projects. To overcome this issue, the Technical Committee on Quality Assessment in Construction with the support of the Construction Industry Development Board (CIDB) has introduced Quality Assessment System in Construction (QLASSIC). QLASSIC is a scoring system that is used to assess and evaluate the performance of construction buildings. It is based on the Construction Industry Standard (CIS 7:2006). Unfortunately, this assessment system had poor implementation since its introduction in November 2006. QLASSIC was not extensively implemented and was taken lightly by the contractors and developers in Malaysia. There are still a huge number of contractors that are not aware of QLASSIC even the big construction companies. Thus, this research is aimed at investigating the contractor’s perspective towards the implementation of QLASSIC in the construction industry in Malaysia. Three objectives are developed to achieve the aim: (1) identification of the needs to implement QLASSIC; (2) investigation of issues and challenges to implement QLASSIC and (3) recommendation of strategies to implement QLASSIC. Structured questionnaire surveys were distributed to the G7 and G6 contractors in the Klang Valley area; which may have or may not have experience in implementing QLASSIC in their projects. The result revealed that majority of the respondents were aware and understand the needs of QLASSIC implementation, but there were still few who were unfamiliar with the QLASSIC. The current level of implementation of QLASSIC in Malaysia is still not satisfactory due to several issues and challenges acting as barriers to its implementation. Therefore, the initiatives from the government are important to promote QLASSIC implementation in the construction industry. By doing this, the contractors would be aware of the implementation of QLASSIC in the construction industry. The significance of this research is that it will assist contractors and other construction players in comprehending the implications and importance of QLASSIC implementation.

Reducing waste to landfill in the UK: identifying impediments and critical solutions

2013 ◽  
Vol 10 (2) ◽  
pp. 131-142 ◽  
Author(s):  
Lukumon O. Oyedele ◽  
Martin Regan ◽  
Jason von Meding ◽  
Ashraf Ahmed ◽  
Obas John Ebohon ◽  
...  
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Methodological Approach ◽  
Cost Savings ◽  
Content Type ◽  
Construction Companies ◽  
Early Communication ◽  
Design Changes ◽  
Critical Solutions ◽  
The Uk

PurposeThe UK construction industry produces up to one third of all waste to landfill. This study aims to identify specific project practices impeding the reduction of waste in construction projects as well as uncovering potential waste solutions throughout the project delivery process. The rationale being that for such a drastic reduction in waste to landfill, holistic and extensive measures would be required.Design/methodology/approachA two‐way methodological approach was used. This comprised qualitative unstructured interviews and a quantitative questionnaire survey of three major stakeholders in the UK construction industry: clients, architects and contractors.FindingsDesign factors remain the major cause of impediments to waste reduction to landfill. Critical impediments include clients making waste prevention a top priority in projects, overly complex designs, waste taking a low priority compared to project time and costs, lack of concerns by designers for buildability, among others. Critical solutions include early supply chain involvement in design process, choosing materials for their durability, early communication of design changes to all parties, longer project programmes and better lead times, among others.Practical implicationsIn all, the target of halving construction waste to landfill based on the 2008 benchmark is achievable but would require construction companies to take it upon themselves to implement the proposed solutions suggested by this study.Originality/valueThe value of this research is to provide UK construction companies with solutions to reduce waste and aid the reaching of the landfill target, as landfill is decreasing as a solution to waste. In addition the cost savings on reducing waste could be crucial for companies in this current economic climate.

Review of the Development of Project Portfolio Management

2013 ◽  
Vol 838-841 ◽  
pp. 3131-3134
Author(s):  
Na Guo ◽  
Shi Rui Xiao
Keyword(s):  
Project Management ◽  
Construction Industry ◽  
Portfolio Management ◽  
Construction Projects ◽  
Current Situation ◽  
Project Portfolio ◽  
Project Portfolio Management ◽  
Construction Companies ◽  
Fast Development ◽  
Complex Construction

With the fast development of the construction industry, traditional project management cannot deal with some complex construction projects. This paper reviewed the development of the project portfolio management and the current situation of the Chinese construction industry. We suggest that project portfolio management is applicable and should be adopted in Chinese construction companies.

Level of visualization support for project communication in the Turkish construction industry: A quality function deployment approach

2007 ◽  
Vol 34 (1) ◽  
pp. 19-36 ◽  
Author(s):  
Yasemin Nielsen ◽  
Bilge Erdogan
Keyword(s):  
Construction Industry ◽  
Quality Function Deployment ◽  
Construction Projects ◽  
Communication Tool ◽  
Quality Of Data ◽  
Quality Function ◽  
Construction Companies ◽  
Visualization Tools ◽  
Types Of Information

Quality of communication is a key factor in the success of construction projects. Visualization technologies can play an important role in improving the quality of data by improving human comprehension and increasing the depth of the information delivered. Visualization has for some time been identified as one of the major technology themes allowing development of construction processes. However, visualization has not been embraced as a strategic tool by construction companies, and they generally fail to take full advantage of available visualization tools. This paper aims to evaluate the extent of visualization as a communication tool in the construction industry and to determine potential benefits to be gained through implementation of visualization. The current state of the use of visualization for communication in Turkish architecture, engineering, and construction companies is mapped through surveys and interviews. Information flow contents and types are analysed to determine the types of information in the construction process that may benefit from visual representation. According to the priorities of the expectations ranked by the users and the potential of different visualization tools, the level of visualization required for each data flow is determined by a quality function deployment (QFD) based approach.Key words: visualization, construction, visual communication, quality.

scholarly journals Effect of Comparative Study of Payment System between Malaysia and Republic of Tajikistan

2017 ◽  
Vol 3 (2) ◽  
pp. 131-136
Author(s):  
Firdavsi Kholiqov ◽  
Sara Ramzani ◽  
Valliappan Raju
Keyword(s):  
Research Study ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Method ◽  
Payment Systems ◽  
Developing Nation ◽  
Training Courses ◽  
The Republic ◽  
And Training ◽  
Day By Day

Purpose: The worldwide payment system has another alternative called e-payment system now. There are a numbers of different aspects on payment system in two mentioned countries. To utilize the arrangement of e-payment, we can spare our time, assets and powers throughout our day by day to exercise the daily e-payment method. The larger part of developing nation is utilizing this e-payment system these days, on the grounds that the e-payment will push the economy to drive speedily. Author has used quantitative method data collection, whereby questionnaire will be provided to respondents. The populations for this research study are financial organizations in both of countries. The target markets are 59 organizations and for data analyzing author will use SPSS technique. Today, the structure of payment system is electronic-payment systems.  It is believed that the result of this study significantly support e-payment system. Using cash, cheque and other kind of payment methods are very less observed in Malaysia. Author has tried to find what are the comparative aspects of payment system between two countries and what are the benefit of e-payment system which used in Malaysia and unused in Tajikistan. This study will help the payment system of Tajikistan to develop and transform to new payment system accordingly. Therefore, this research will deliver as educational subject and training courses to the Republic of Tajikistan.

scholarly journals The COVID-19 Pandemic as a Driving Force for E-Wallet Adoption in Indonesia

2021 ◽  
Vol 9 (2) ◽  
pp. 40
Author(s):  
Machmudin Eka Prasetya ◽  
Intan Salwani Mohamed ◽  
Shuhaida Mohamed Shuhidan ◽  
Gede Harja Wasistha
Keyword(s):  
Driving Force ◽  
Payment System ◽  
Mobile Banking ◽  
Payment Systems ◽  
Online Transactions ◽  
Payment Methods

During the COVID-19 pandemic, e-payment systems, also known as cashless payment systems, have steadily evolved as a payment system instrument. Changes in payment methods, followed by a growth in digital payment systems, may be driving people to use e-wallets. The functions of an e-wallet are similar to those of an e-banking or mobile banking account, but an e-wallet gives greater convenience and simplicity of access while making payments. Because the use of e-wallets can help reduce the spread of COVID-19-causing coronaviruses, this study looks into the possibilities of increasing e-wallet usage while also increasing the use of digital payment and online transactions during the COVID-19 outbreak.

scholarly journals Strategic framework for implementing smart devices in the construction industry

2021 ◽  
Vol 21 (2) ◽  
pp. 218-243
Author(s):  
Manuel Alexander Silverio-Fernández ◽  
Suresh Renukappa ◽  
Subashini Suresh
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Success Factors ◽  
High Rate ◽  
Smart Devices ◽  
Structured Interviews ◽  
Content Type ◽  
Strategic Framework ◽  
Construction Companies ◽  
The Uk

Purpose The decentralisation of information and high rate of mobile content access in the construction industry provide an ideal scenario for improvement of processes via the implementation of the paradigm of the Internet of Things (IoT). Smart devices are considered as the objects interconnected in the IoT; therefore, they play a fundamental role in the digital transformation of the construction industry. Currently, there is a lack of guidelines regarding the implementation of smart devices for digitalisation in the construction industry. Consequently, this paper aims to provide a set of guidelines for implementing smart devices in the construction industry. Design/methodology/approach An empirical study was performed in the UK and the Dominican Republic (DR). Following a systematic approach, qualitative data collection and analysis was performed based on semi-structured interviews involving professionals from construction companies in the UK and the DR. Interviews were recorded and subsequently transcribed using Microsoft Word and exported to the software NVivo, where the software was used to find common thematic nodes across all interviews. Findings The findings encompass drivers, challenges and critical success factors (CSFs) for implementing smart devices in construction project. For both countries, the top five CSFs were leadership, staff training, culture, technology awareness and cost of implementation. These findings were used to develop a strategic framework for implementing smart devices in construction companies. The framework establishes the actors, elements and actions to be considered by construction companies when implementing smart devices. Originality/value This paper provides a richer insight into the understanding and awareness of implementing smart devices. A strategic framework for implementing smart devices in the construction industry and providing guidelines for adopting smart devices in construction projects was developed and validated. This study provides a better understanding of the key factors to be considered by construction companies when embedding smart devices into their projects.

scholarly journals Challenges and Issues Involved in Adopting Lean and Bim in Construction

2020 ◽  
Vol 9 (3) ◽  
pp. 2873-2878
Keyword(s):  
Construction Industry ◽  
Customer Value ◽  
Construction Projects ◽  
Waste Reduction ◽  
Information Modeling ◽  
Construction Companies ◽  
Construction Techniques ◽  
Building Information ◽  
Intelligent Model ◽  
Survey Questionnaires

Lean Construction techniques have been introduced as an alternative way for conventional construction process in 1990’s.. It is described as a process of eliminating waste, increasing worth and value, and meeting or extraordinary client necessities and requirements. Waste reduction and customer value satisfaction are important factors to be considered in implementing construction projects. Building Information Modeling (BIM) is an intelligent model based process. BIM implementation seems to more advantageous in construction industry, for instance, it makes use of visualization technique of a product to facilitate architecture, engineering and construction professionals to effectively plan, design and manage infrastructure. Review of literature is administered and a survey is conducted to identify major issues involved in adopting Lean and BIM in construction sector. The present study depends mostly on the survey questionnaires from building professionals. Totally forty construction companies were selected for the questionnaire survey. The results obtained were analyzed in Statistical Package for Social Science (SPSS). The outcome of the study indicates that Lean and BIM implementation is necessary for allocation of resources, quality improvement and it enhances the sustainability of building and also it signifies that there is a shortage in lack of awareness, lack of framework and professionals.

scholarly journals Stimulating the accumulation of deposits in banks to finance the construction industry of the European Union

2018 ◽  
Vol 212 ◽  
pp. 08008
Author(s):  
Igor Anokhov
Keyword(s):  
European Union ◽  
Construction Industry ◽  
Construction Projects ◽  
The European Union ◽  
Short Term ◽  
Economic Cycles ◽  
Construction Companies ◽  
Construction Market ◽  
One Year

The paper is devoted to the search for a way of development of the construction industry by the deposits in banks. The analysis of the eurozone statistics has shown that most of the deposits are short-term ones. In addition, loans for the purchase of housing and loans to non-financial corporations are issued mainly for up to one year. This constrains the demand for housing and construction projects, limits the opportunities for long-term crediting construction companies, and also causes Juglar’s economic cycles. In this regard, measures are needed to make the financial plans of all stakeholders on the construction market lengthier. The author proposes to create the targeted deposits in banks under collateral in the form of buildings, structures, and infrastructure facilities. This will increase the propensity to save and invest free money in the construction industry.

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