scholarly journals The impact of project risk audits on construction project success

2020 ◽  
Vol 10 (2) ◽  
pp. 103-115
Author(s):  
Kennedy Obondi
Keyword(s):  
Construction Projects ◽  
Project Success ◽  
Construction Project ◽  
The United States ◽  
Project Managers ◽  
Business Success ◽  
Construction Companies ◽  
Construction Organizations ◽  
Simple Logistic ◽  
The Impact

Risk audit is often poorly implemented in construction projects because of the absence of constant auditing of risks by construction project managers. Construction companies are experiencing large financial deficits because of managers failing to audit and monitor project risks. The purpose of this study was to examine whether the utilization of risk audit correlates with project success in construction projects. An electronic survey instrument was used to collect data from a sample of 50 construction project managers in the Dallas-Fort Worth area of Texas in the United States. Spearman's rho correlational analysis and simple logistic regressions were used to examine the relationship between risk audit and project success. The results of this study indicated that there is a positive and significant association between risk audit and project success in terms of schedule performance, cost performance, customer satisfaction, and business success. One of the recommendations presented in this study was to expand the study to developing countries to see whether the findings from the study remain the same. The study concluded that construction organizations should regularly consider the importance and usage of risk audit techniques to improve the success rate of a project.

scholarly journals Method of Assessing the Risk of Implementing Railway Investments in Terms of the Cost of Their Implementation

2021 ◽  
Vol 13 (23) ◽  
pp. 13085
Author(s):  
Jan Kowalski ◽  
Mieczysław Połoński ◽  
Marzena Lendo-Siwicka ◽  
Roman Trach ◽  
Grzegorz Wrzesiński
Keyword(s):  
Construction Projects ◽  
Original Method ◽  
Project Managers ◽  
Simple Method ◽  
Construction Companies ◽  
Risk Forecasting ◽  
Specific Object ◽  
Effective Cost ◽  
The Cost ◽  
The Impact

Exceeding the approved budget is often an integral part of the implementation of construction projects, especially those where unforeseen threats may occur. Therefore, each construction investment should contain elements of risk forecasting, mainly in terms of the cost of its implementation. Only a small number of institutions apply effective cost control methods, taking into account the specifics of a given industry. Especially small construction companies that participate in the structure of the implementation of large construction projects as subcontractors. The article presents a method by which it is possible to determine, with certain probability, the final cost of railway construction investments carried out in Poland. The method was based on a reliable database of risk factors published in sources. In this article, the main presumptions of the original method are presented, which take into account the impact of potential, previously recognized, risks specific to railway investments, and enable project managers to relate them to the conditions where the implementation of a specific object is planned. The authors assumed that such a relatively simple method, supported by a suitable computational program, would encourage teams that plan to implement railway projects to use it and increase the credibility of their schedules.

scholarly journals Realizacja projektów inwestycyjno-budowlanych z wykorzystaniem Big Data

2017 ◽  
Vol 26 (2) ◽  
pp. 241-249 ◽  
Author(s):  
Jarosław Górecki ◽  
Jadwiga Bizon-Górecka ◽  
Karol Michałkiewicz
Keyword(s):  
Risk Management ◽  
Big Data ◽  
Construction Projects ◽  
Construction Project ◽  
Construction Companies ◽  
On Line ◽  
Line Survey ◽  
The Impact

A paper focuses on analyzing the impact of Big Data (BD) on minimizing the risk in investment and construction projects. The work presents the aspects of risk occurring during the execution of the construction project. It presents an on-line survey which was aimed at knowing the opinion of Polish construction companies on the BD, and checking their readiness to implement technologies supporting manipulation of the data. It was underlined that results of the BD analysis provide a powerful tool for risk management, however, it is hardly noticed by the Polish respondents.

scholarly journals The utilization of project risk monitoring and control practices and their relationship with project success in construction projects

2022 ◽  
Vol 7 (1) ◽  
pp. 35-52 ◽  
Author(s):  
Kennedy Christopher Obondi
Keyword(s):  
United States ◽  
Construction Projects ◽  
Project Success ◽  
The United States ◽  
Risk Identification ◽  
Project Managers ◽  
Monitoring And Control ◽  
Project Risk ◽  
Risk Monitoring ◽  
And Control

Risk monitoring and control is often poorly implemented in construction projects because of a failure to monitor and manage identified risks. Construction companies experience significant losses due to project managers' lack of project risk monitoring and control in construction projects. Most studies have concentrated on risk identification, risk assessment, and risk analysis processes while neglecting crucial risk management processes of risk control, risk monitoring, and risk response. The lack of research on these three crucial processes highlights a gap in the literature concerning how these processes can increase the delivery of successful projects. The purpose of this study was to examine whether the utilization of project risk monitoring and control practices was related to project success in construction projects in the United States. An electronic survey instrument was used to collect data from a sample of 50 construction project managers in the Dallas-Fort Worth area in the state of Texas, in the United States. Spearman rho correlation analysis was used to examine the relationship between project risk monitoring and control practices and project success. The results of this study indicated that all project risk monitoring and control practices, including risk reassessment, risk audits, contingency reserves analysis, and risk status meetings, were significantly and positively related to project success in construction projects. One of the recommendations presented in this study was that future research should conduct the same study in developing countries to see if the study’s findings remain the same and generalizable. The study concluded that construction organizations should regularly consider the importance and usage of project risk monitoring and control practices and apply them to improve the success rate of a project.

scholarly journals Identifying Challenges of Internet of Things on Construction Projects Using Fuzzy Approach

2021 ◽  
Vol 11 (3) ◽  
pp. 215-227
Author(s):  
Benedict Amade ◽  
Cosmas Ifeanyi Nwakanma
Keyword(s):  
Internet Of Things ◽  
Construction Projects ◽  
Structural Model ◽  
Project Managers ◽  
The Internet ◽  
Fuzzy Decision Making ◽  
Fuzzy Dematel ◽  
Construction Companies ◽  
The Impact ◽  
The Internet Of Things

Abstract This study presents a fuzzy decision-making trial and evaluation laboratory (DEMATEL) analysis of the internet challenges of the internet of things (IoT) implementation of construction projects in Nigeria. The identification of the IoT challenges was carried out through a thorough literature search and discussions with 27 built environmental experts. In addition, DEMATEL, an expert judgement-based tool, was used to pick, design, and evaluate a structural model consisting of a causal relationship between defined IoT challenges. Subsequently, the fuzzy DEMATEL was deployed with a view to constructing a structural relationship between the various challenging factors by visualising the dynamic associations between them. Based on the findings of the literature survey and expert evaluation, 18 obstacles to the implementation of IoT in construction projects were classified into cause and effect classes based on their relative parameters of impact. The results suggest that 8 challenges were categorised into the cause group, while 10 were listed into the impact group. The results of this study will enable construction companies, construction industry experts, project managers in Nigeria to enhance their search to design and execute an effective and productive IoT application for their construction projects.

The Impact of Emotional Intelligence, Project Managers’ Competencies, and Transformational Leadership on Project Success: An Empirical Perspective

2017 ◽  
Vol 48 (3) ◽  
pp. 58-75 ◽  
Author(s):  
Rashid Maqbool ◽  
Ye Sudong ◽  
Nasir Manzoor ◽  
Yahya Rashid
Keyword(s):  
Emotional Intelligence ◽  
Transformational Leadership ◽  
Leadership Style ◽  
Construction Projects ◽  
Project Success ◽  
Leadership Behavior ◽  
Project Managers ◽  
Effective Leaders ◽  
Transformational Leadership Style ◽  
The Impact

Project stakeholders always strive for a successful project, hence there is growing concern about the factors that influence project success. Although the success of a project is influenced by various factors, project managers play a very important role. This study aims to examine the relationship and impact of construction project managers’ emotional intelligence (EI), managerial competencies, and transformational leadership style on project success. A total of 107 Pakistani construction firms were studied with a view to measuring the effects of these variables on the overall performance of construction projects. The results show that project managers with high emotional intelligence who bear the desired competencies and exhibit transformational leadership behavior are effective leaders and ensure higher success in projects than their counterparts. The findings will assist project sponsors in selecting the appropriate project managers for their projects.

scholarly journals An assessment of Key Success Factors for Construction Projects in the Democratic Republic of Congo

2021 ◽  
Vol 13 (2(I)) ◽  
pp. 16-34
Author(s):  
Adrien Fariala ◽  
Olawumi Dele Awolusi
Keyword(s):  
Risk Management ◽  
Construction Projects ◽  
Success Factors ◽  
Democratic Republic ◽  
Project Success ◽  
Democratic Republic Of Congo ◽  
Construction Project ◽  
Republic Of Congo ◽  
Key Success Factors ◽  
The Impact

The success of the Government's construction projects in the Democratic Republic of Congo (DRC) since 2011 has been anchored on the potential of construction firms in completing these projects based on the planned timeframe as well as the budget. Consequently, from a project management viewpoint, the main objective of the present study was to assess the critical success factors in developing countries' construction projects and to examine the impact of risk management, leadership, experience and expertise, and project size on construction projects in DRC. Data was gathered from respondents in the construction projects in DRC using quantitative methods. A statistical software program, SPSS version 25, was subsequently used to analyze the collected quantitative data. The findings emanating from this study contribute to the body of knowledge on key success factors in construction projects in DRC as a developing country. It was revealed from the study that the success of construction projects in DRC could be boosted through effective and efficient risk management. In addition, effective and efficient leadership mainly transactional leadership would affect construction project success. Further, the more the experience and expertise of construction project staff, the more likely the project success criteria would be met, and the more likely the project would be successful. And lastly, smaller-sized and medium-sized construction projects may be more successful, whereas mega projects may not be very successful due to insufficient and limited experience and expertise.

Exploring the influence of project complexity on the mega construction project success: a qualitative comparative analysis (QCA) method

2020 ◽  
Vol 27 (9) ◽  
pp. 2429-2449 ◽  
Author(s):  
Li Ma ◽  
Hongwei Fu
Keyword(s):  
Construction Projects ◽  
Project Success ◽  
Qualitative Comparative Analysis ◽  
Construction Project ◽  
Environmental Complexity ◽  
Content Type ◽  
Influencing Mechanism ◽  
Technological Complexity ◽  
Project Complexity ◽  
The Impact

PurposeUnderstanding the impact of project complexity on the mega construction project success will help improve the efficiency of project management. However, the influencing mechanism of project complexity on project success has not been clearly depicted. This paper aims to divide project complexity and project success into five dimensions, trying to explore the impact of different complexity combinations on mega construction project success.Design/methodology/approachThis study applies the qualitative comparative analysis (QCA) method to find out the impact of the combinations of different project complexities on the every dimension of mega construction project success. First, 21 cases were interviewed and scored in five categories of project complexities and five aspects of project success. Second, with the QCA program, the combinations of different project complexities influencing every aspect of mega construction project success was obtained.FindingsThis research found that high organizational complexity or a combination of high environmental complexity and goal complexity can lead to serious schedule delays of mega construction projects, high technological complexity and goal complexity are important reasons for cost overrun, high technological complexity or a combination of high environmental complexity and low organizational complexity usually lead to low quality of mega construction projects, high goal complexity and cultural complexity are important factors affecting the key stakeholders' satisfaction and high technological complexity and environmental complexity are the reasons for the poor sustainability of mega construction projects.Originality/valueThis study clearly reveals the influencing mechanism of project complexity on mega construction project success, which can help the project managers to understand and assess the complexity of mega construction projects and accurately predict their negative impacts on the mega construction projects.

scholarly journals Communication and Information Flow in Polish Construction Projects

2020 ◽  
Vol 12 (21) ◽  
pp. 9182
Author(s):  
Ewelina Kania ◽  
Elżbieta Radziszewska-Zielina ◽  
Grzegorz Śladowski
Keyword(s):  
Information Flow ◽  
Construction Projects ◽  
Construction Project ◽  
Effective Communication ◽  
General Information ◽  
Project Managers ◽  
Survey Study ◽  
Literature Study ◽  
Project Participants ◽  
The Impact

The objective of this paper is to analyse communication and information flow within construction projects on the basis of a survey study and a review of the literature. The subject of communication and its impact on carrying out a construction project is widely discussed in global academic literature. Many scholars point to problems with communication and information flow while also reporting that it directly affects construction project time and cost. In the literature, communication is also presented as an essential factor that improves safety and partnering in construction projects. There is also a group of studies that points to the lack of effective communication as the cause of delays and modifications. The authors, in reference to global studies, present the results of a survey study performed in Poland on a group of 160 construction industry practitioners. Information about five research areas was collected. These areas included: general information about communication and information flow between construction project participants, problems in carrying out construction projects in relation to the lack of effective communication, the impact of communication on the success of carrying out a construction project, communication costs, and the need to develop a tool (a digital system) that would support construction project managers in the optimal control over communication between project participants. On the basis of the obtained research results and the literature study, it was found that effective communication and information flow within a construction project can improve the construction process and that there exists a need to develop a comprehensive approach that would aid construction project managers in ensuring a more effective information flow.

scholarly journals Impact of Construction Project Managers’ Emotional Intelligence on Project Success

2021 ◽  
Vol 13 (19) ◽  
pp. 10804
Author(s):  
Alessandra Montenegro ◽  
Marina Dobrota ◽  
Marija Todorovic ◽  
Teodora Slavinski ◽  
Vladimir Obradovic
Keyword(s):  
Emotional Intelligence ◽  
Construction Projects ◽  
Project Success ◽  
Construction Project ◽  
Project Managers ◽  
Working Relationships ◽  
Construction Project Management ◽  
Stakeholder Relationships ◽  
External Stakeholder ◽  
External Relationships

Numerous authors are persistent in investigating the competency profile of the ideal construction project manager in order to decrease the failure rate of construction projects. There is evidence for the change in construction project management, from traditional practices to practices more focused on people and working relationships. The literature demonstrates a positive correlation between project manager’s Emotional intelligence and project success but less is written about the mechanisms that interfere with that relationship. Furthermore, project manager’s relationships with stakeholders are recognized as an important determinant of project success in the construction industry. Considering the above facts, this study was motivated to examine how the construction project manager’s emotional intelligence influences project success, and whether the relations with internal and external stakeholders interfere as mediators in that relationship. In the conducted research, 110 project managers participated. The results demonstrate that the emotional intelligence of construction project managers significantly influences the project success and that internal and external stakeholder relationships play an important role as mediators among them. Moreover, it is found that some components of EI have more significant influence on stakeholder relationships and project success and that internal and external relationships in different amounts affect components of project success.

scholarly journals Views of the Kenyan Construction Industry Players Regarding the Impact of Resource Planning and Leveling on Construction Project Performance

2021 ◽  
Vol 3 (1) ◽  
pp. 28-35
Author(s):  
Shadrack Mutungi Simon
Keyword(s):  
Resource Management ◽  
Construction Projects ◽  
Qualitative Data ◽  
Project Success ◽  
Stakeholder Management ◽  
Construction Project ◽  
Resource Planning ◽  
Project Planning ◽  
Improved Performance ◽  
The Impact

The successful completion and performance of a construction process is pegged on three basic performance parameters which have evolved to be regarded as the three pillars of any successful construction project. These include finishing the project within budget and schedule without compromising on the desired quality. It is however important to note that these factors are all affected by the level of resource management within the project. Questionnaires were used to collect both quantitative and qualitative data from contractors who were chosen randomly. Out of 106 questionnaires distributed, 81 were received back by the researcher. This represented a response rate of 76%. An overwhelming majority of contractors in the country shared a similar opinion that Resource Planning and Leveling (RP&L) contributes to reduced cost of a project, reduced completion period of a project and improved quality of a project. This means that RP&L generally contributes to the improved performance of construction projects. Qualitative data obtained from open-ended questions were analysed thematically. A total of 97 possible solutions were suggested by respondents as solutions to overcoming challenges associated with RP&L. These solutions were grouped into a number of themes namely: technical (52%); financial, (3%); resource management, (7%); project planning and control, (14%); top management involvement, (7%); communication, (3%) and others, (13%). 98% of the contractors suggested that RP&L was a contributor to project success. The remaining 2% claimed that it could both be a contributor and hindrance depending on how it was carried out. Contractors proposed different ways in which RP&L could contribute to project success. These were also analysed thematically under the following topical areas: scope management (6%); schedule management (28%); cost management (14%); quality management (3%); integration management (1%); stakeholder management (1%); risk management (7%); resource management (23%) and others (16%).

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