scholarly journals Quantitative risk analysis procedure for economic project sustainability.

2021 ◽  
Vol 10 (1) ◽  
Author(s):  
Jithin Arakkatt Shaji
Keyword(s):  
Risk Analysis ◽  
Construction Industry ◽  
Construction Projects ◽  
Quantitative Methods ◽  
Economic Sustainability ◽  
Key Factors ◽  
Paper Briefly ◽  
Cost Variance ◽  
Project Sustainability ◽  
Project Deliverables

The paper briefly explains the importance of quantitative procedures of risk analysis in large and medium scale projects for the sustenance of project economic sustainability. Globally, several construction projects are being descoped and tend to close out before attaining the initial project deliverables due to cost and schedule overruns. The quantitative methods can sieve the key factors and forecast the tangible impacts that can lead to schedule or cost variance in a project. It can guide the project stakeholders for timely decision making and mitigate the risks associated to achieve the project goals. Today, the quantitative methods are pivotal to analyze the impacts of Covid-19 crises in Construction industry which are increasingly apparent. Keywords- Project economic sustainability, Risk analysis, Quantitative methods

scholarly journals Quantity Surveyors’ Response to the COVID-19 Outbreak: A Mixed Method Approach

2021 ◽  
Vol 7 (2) ◽  
pp. 177
Author(s):  
Seng Hansen ◽  
Susy F Rostiyanti ◽  
Rizaldi Rizaldi ◽  
Clara Andjarwati
Keyword(s):  
Construction Industry ◽  
Mixed Method ◽  
Construction Projects ◽  
Work Culture ◽  
Structured Interviews ◽  
Mixed Method Approach ◽  
Professional Activities ◽  
Project Sustainability ◽  
Project Objectives ◽  
Method Approach

The COVID-19 outbreak began at the end of 2019, and has evolved to a pandemic threatening various industries’ sustainability. Decisive actions have been taken to tackle the pandemic’s spread, however, various impacts continue to be felt by many industries, including the construction industry. This paper therefore focuses on the COVID-19 outbreak’s impact on Quantity Surveyors’ (QS) construction projects and activities, as a key profession in the industry. A mixed method approach, questionnaire survey followed by expert interviews, was adopted. Subsequently, 199 valid responses for analysis were obtained from the questionnaire distribution, using descriptive statistics and Significance Index. Furthermore, qualitative data were acquired through semi-structured interviews with five experts, and analyzed using a structured thematic analysis. According to the results, 56.78% of respondents experienced project slowdowns, 13.57% experienced project suspensions or terminations, and 12.56% experienced cost overruns. Most respondents acknowledged the pandemic had present changes to projects (84.92%), in the form of changes in organization structure, work culture, technological application, and project objectives. Meanwhile, the Significance Index has successfully established an 11-factors ranking, regarding the pandemic’s impact on QS activities, with impact on the overall project completion as the most profound impact followed by impacts on project scheduling, supply chain, tendering, cost controlling, and claim management. This study’s qualitative and quantitative findings tend to be in accordance, thus, providing some fundamental insights regarding the COVID-19 outbreak’s impact on the construction industry, including direct impacts on project sustainability, technology adoption, and project resiliency issues. In addition, this study also contributes to scientific knowledge by discussing the issues and trends of work culture changes in QS professional activities.

scholarly journals CRITICAL FACTORS VARYING CONSTRUCTION COST

2009 ◽  
Vol 12 (1) ◽  
pp. 104-117
Author(s):  
Tam Thi Minh Nguyen ◽  
Thi Hao Cao
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Multiple Linear Regression Model ◽  
Construction Cost ◽  
Ho Chi Minh City ◽  
Cost Overrun ◽  
Key Factors ◽  
Industry Sectors ◽  
The Relationship ◽  
Chronic Problem

Construction industry is considered to be one of the most important industries in Vietnam's economy. But many construction industry sectors have been experienced chronic problem as cost overrun. Therefore, a conceptual model of factors influencing construction cost was developed to determine the key factors that cause difference between budget cost and actual cost and some solutions are recommended to be applied to achieve the best outcome of cost. The result of analyzing 216 construction projects completed from 2002 to 2007 by companies located in Ho Chi Minh City indicated 6 main factors varying construction cost: project planners, project executives, economics, political, natural environment, fraudulent and lost. The results of multiple linear regression model confirmed the relationship between these above 6 factors and construction cost with the theories are supported at the statistically significant level of 0.05.

Risk analysis of construction of administration projects using Bayesian networks

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohammad Osama ◽  
Aly Sherif ◽  
Mohamed Badawy
Keyword(s):  
Risk Factors ◽  
Life Cycle ◽  
Risk Analysis ◽  
Construction Industry ◽  
Construction Projects ◽  
Causal Relationships ◽  
Content Type ◽  
Project Life Cycle ◽  
Project Objectives ◽  
Project Life

Purpose This paper aims to enlighten the importance of the risk management process which is considered as a major procedure to effectively handle the potential inherent risks in the construction industry. However, most traditional risk analysis techniques are based on theories that deal with each risk factor as an independent, which does not take into consideration the causal relationships between risk factors. Design/methodology/approach This study aspires to identify the overall risk of the administrative construction projects in Egypt and to recognize the most influencing risk factors through the project life cycle by using Bayesian belief networks (BBN). Through a review of the literature, 27 risk factors were identified and categorized as the most common risk factors in the construction industry. A structured questionnaire was performed to estimate the probability and severity of these risks. Through site visits and interviews with experts in the construction field, 200 valid questionnaires were collected. A risk analysis model was developed using BBNs, then the applicability of this model was verified using a case study in Egypt. Findings However, the outcome showed that critical risks that manipulate administrative construction projects in Egypt were corruption and bribery, contractor financial difficulties, force majeure, damage to the structure and defective material installation. Practical implications The proposed study presents the possibilities available to the project parties to obtain a better forecast of the project objectives, including the project duration, total project cost and the target quality by examining the causal relationships between project risks and project objectives. Originality/value This study aspires to identify the overall risk of the administrative construction projects in Egypt and to recognize the most influencing risk factors through the project life cycle by using BBNs.

Optimisation of resource management in construction projects: a big data approach

2019 ◽  
Vol 16 (2) ◽  
pp. 82-93 ◽  
Author(s):  
Habeeb Kusimo ◽  
Lukumon Oyedele ◽  
Olugbenga Akinade ◽  
Ahmed Oyedele ◽  
Sofiat Abioye ◽  
...  
Keyword(s):  
Big Data ◽  
Resource Management ◽  
Construction Industry ◽  
Construction Projects ◽  
Design Methodology ◽  
Key Factors ◽  
Content Type ◽  
Management Processes ◽  
Qualitative Research Methodology ◽  
The Uk

Purpose The purpose of this paper is to identify challenges faced in resource management in the UK construction industry and to propose some solutions to these problems. Design/methodology/approach Based on a qualitative research methodology, 14 experts from the UK construction industry were chosen to be participants in the study. The participants were equally divided into two focus groups to discuss resource management using five projects as case studies. Thematic analysis of the discussion reveals seven key factors that affect resource management. Findings The results show that most of the problems identified are due to poor data management processes and the practice of having data in silos. Overcoming this challenge requires the adoption of big data approaches for resource management to allow the integration of large and different forms of data. Originality/value This study seeks to bring to the fore challenges faced in resource management by the UK construction industry and to outline some solutions to address them.

scholarly journals Identifying Motivational and Demotivational Productivity Factors in Qatar Construction Projects

2019 ◽  
Vol 9 (2) ◽  
pp. 3945-3948 ◽  
Author(s):  
M. H. Momade ◽  
M. R. Hainin
Keyword(s):  
Project Management ◽  
Literature Review ◽  
Construction Industry ◽  
Construction Projects ◽  
Vital Role ◽  
Motivational Factors ◽  
Key Factors ◽  
Structured Interviews ◽  
Effective Performance ◽  
The Impact

Motivation is one of the factors that influence productivity. Project management plays a vital role in the success of projects in Qatar construction industry (QCI). It relies profoundly on the team’s active participation and effective performance. Hence it is important to assess the impact of motivation and demotivation on performance. The main objective of this paper is to identify the key factors that cause motivation and de-motivation in QCI. Literature review, surveys with experts and semi-structured interviews were conducted to identify these factors. Using these factors to conduct specific motivational programs will help improve productivity in QCI. Research on motivational factors impacting productivity has not been conducted in Qatar before, so this work will provide insight on how to deal with productivity issues that QCI faces ahead of a major world event that Qatar will host in 2022.

scholarly journals Valuing the contribution of knowledge-oriented workers to projects: a merit based approach in the construction industry

2015 ◽  
Vol 12 (4) ◽  
pp. 1-12 ◽  
Author(s):  
Mehrdad Arashpour ◽  
Majeed Shabanikia ◽  
Mohammadreza Arashpour
Keyword(s):  
Construction Industry ◽  
Influencing Factors ◽  
Construction Projects ◽  
Key Factors ◽  
Professional Skills ◽  
Construction Companies

Evidence points to the fact that frequent resignation of project engineers from construction companies is primarily the result of dissatisfaction with the factors that shape the salary scale. This research aims to identify the major influencing factors in merit based salary calculation systems for knowledge-oriented engineers so as to more accurately reflect their contribution to construction projects. Results from a questionnaire sent to managers, engineers and HR professionals throughout the Iranian construction industry revealed that while there was overall agreement on principles to a merit-based approach, engineers in particular identified ‘professional skills’, ‘experience’ and ‘creativity’. Management-oriented parties should take into account engineer perspectives in order to more accurately value the knowledge-oriented contribution of these workers to construction projects. This research provides a basis for understanding the key factors in the merit based salary scale formulation through the construction industry.

scholarly journals Factors Influencing Safety on Construction Projects (fSCPs): Types and Categories

2021 ◽  
Vol 18 (20) ◽  
pp. 10884
Author(s):  
Felipe Muñoz-La Rivera ◽  
Javier Mora-Serrano ◽  
Eugenio Oñate
Keyword(s):  
Construction Industry ◽  
Safety Culture ◽  
Construction Projects ◽  
General Framework ◽  
Safety Management ◽  
Construction Safety ◽  
Key Factors ◽  
Factors Influencing ◽  
New Methodologies ◽  
Different Dimensions

Due to the fact of activity, environment and work dynamics, the construction industry is characterised by high accident rates. Different initiatives have emerged to reduce these figures, which focus on using new methodologies and technologies for safety management. Therefore, it is essential to know the key factors and their influence on safety in construction projects (fSCPs) to focus efforts on these elements. Through a systematic literature review, based on PRISMA methodology, this article identifies, describes and categorises 100 factors that affect construction safety. It thus contributes by providing a comprehensive general framework, unifying previous studies focused on specific geographic areas or case studies with factors not considered or insufficiently disaggregated, along with an absence of classifications focused on understanding where and how factors affect the different dimensions of construction projects. The 100 factors identified are described and categorised according to the dimensions and aspects of the project in which these have an impact, along with identifying whether they are shaping or immediate factors or originating influences for the generation of accidents. These factors, their description and classification are a key contribution to improving the systematic creation of safety and generating training and awareness materials to fully develop a safety culture in organisations.

The Research of Key Factors Affecting the Implementation of Lean Construction

2013 ◽  
Vol 838-841 ◽  
pp. 3183-3189
Author(s):  
Shu Quan Li ◽  
Shao Pei Hu ◽  
De Hui Sun ◽  
Jing Li
Keyword(s):  
Construction Industry ◽  
Influencing Factors ◽  
Construction Projects ◽  
Rough Set Theory ◽  
Field Research ◽  
Lean Construction ◽  
Key Factors ◽  
Factors Affecting ◽  
Survey Questionnaires ◽  
Management Expert

The application of the ideas and methods of lean construction is still in its infancy in China's construction industry, there are still many factors that restrict the implementation of lean construction, and how to find the key influencing factors is worthy study. We summarized the 28 influencing factors of Implementation of lean construction through project management expert interviews and field research in the construction site, and conducted a survey of 300 construction projects, distributed 710 questionnaires. After analysis of the survey questionnaires by using rough set theory and stepwise discriminate analysis finalized the 14 key factors affecting the implementation of lean construction and construction project performance.

scholarly journals Motivation of civil engineers and architects in Turkey

2020 ◽  
Vol 12 (1) ◽  
pp. 2044-2052
Author(s):  
Atilla Damci ◽  
David Arditi ◽  
Gul Polat ◽  
Harun Turkoglu
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Statistical Difference ◽  
Home Country ◽  
Construction Project ◽  
Construction Workers ◽  
Key Factors ◽  
Construction Companies ◽  
Significant Difference ◽  
Civil Engineers

AbstractMotivation is one of the key factors that stimulate individuals to improve their productivity. Therefore, motivation of construction workers has been debated with considerable interest by participants in the construction industry. However, motivating only construction workers, but ignoring the motivation of construction professionals, viz., architects and civil engineers, may not be enough to successfully complete a construction project. Although motivation of construction professionals may also enhance the performance of a construction project, this topic is mostly ignored in the motivation literature. This study attempts to fill this gap by (1) identifying the motivators that are of importance to architects and civil engineers and (2) exploring the statistical difference between architects’ and civil engineers’ motivators. For this purpose, a questionnaire survey was administered to Turkish architects and civil engineers to collect data on their perceptions of the importance of different motivators. The case of Turkey is investigated because several of the larger Turkish contractors undertake construction projects outside their home country. Statistical analysis was performed on the collected data to verify whether there are statistically significant differences in the perception of some motivators by architects and civil engineers. The study demonstrates the existence of a statistically significant difference between architects’ and civil engineers’ motivators. Identifying the architects’ and civil engineers’ motivators may help construction companies in motivating their architects and civil engineers more effectively, thus developing a quality workforce.

Inhibiting Factors of Cost Performance in UAE Construction Projects

2020 ◽  
Vol 11 (2) ◽  
Author(s):  
Ahmed Salem Ahmed Marey Alhammadi ◽  
◽  
Aftab Hameed Memon ◽  
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Past Research ◽  
Cost Overrun ◽  
Index Method ◽  
Cost Performance ◽  
Factors Affecting ◽  
Inhibiting Factors ◽  
Critical Problems ◽  
Structured Questionnaire

UAE construction industry frequently faces poor cost performance which commonly known as cost overrun problem. This problem is resulted from several factors and it is important to identify these cost overrun factors in order to avoid and minimize it. Hence, this paper focused on determined the relevancy of factors affecting cost performance in construction projects of UAE. Through a review of past research works conducted globally, 27 factors of cost overrun were listed and used for developing a structured questionnaire. A survey was conducted with 33 practitioners from client, consultant and contractors organizations involved in handling construction projects in UAE. The respondents were requested to state their perception regarding the relevancy of each of the factors that was perceived in context with cost overrun issue using 5-points Likert scale. The responses were analysed using average index method and the results found that all the 27 factors are relevant with construction industry of UAE in causing cost overrun. These factors can be used for further investigation to uncover critical problems of cost overrun.

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