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Article
Publication date: 14 November 2023

Liupengfei Wu, Weisheng Lu and Chen Chen

This research aims to develop a blockchain smart contract–enabled framework to resolve power imbalance problems in construction payment.

Abstract

Purpose

This research aims to develop a blockchain smart contract–enabled framework to resolve power imbalance problems in construction payment.

Design/methodology/approach

This research adopts a design science research method to develop the blockchain smart contract–enabled framework. The authors then develop a prototype system. Finally, the authors evaluate its performance in solving power imbalance-induced payment problems.

Findings

The results show that the prototype system can resolve power imbalance problems in construction payment by allowing project participants to make transparent and decentralized decisions that are self-enforceable by blockchain smart contracts.

Research limitations/implications

This study provides theoretical explanations for how blockchain smart contracts can resolve power imbalances in construction payment; based on that, it proposes a novel blockchain smart contract–enabled method to rebalance the power of stakeholders in construction payment. Thus, it contributes to the body of knowledge on blockchain technology and construction payment.

Practical implications

This study moves beyond a conceptual framework and develops a practical blockchain smart contract system for resolving power imbalances in construction payment, strengthening construction project members' confidence in using blockchain technology.

Social implications

The proposed blockchain smart contract–enabled solution helps mitigate negative social impacts associated with late payment and non-payment. Furthermore, the research maximizes trust among participants in payment processes to inspire collaborative culture in the construction industry.

Originality/value

This paper introduces a novel blockchain smart contract integrated method, allowing project stakeholders to resolve power imbalance problems in construction payment through decentralized decision-making.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 15 December 2023

Zehui Bu, Jicai Liu and Jiaqi Liu

Emotions, understood as evolving mental states, are pivotal in shaping individuals“' decision-making, especially in ambiguous information evaluation, probability estimation of…

Abstract

Purpose

Emotions, understood as evolving mental states, are pivotal in shaping individuals“' decision-making, especially in ambiguous information evaluation, probability estimation of events, and causality analysis. Public–private partnership (PPP) projects represent a confluence of “economic–environmental–social” dimensions, wherein stakeholder behavior follows the sequential progression of “cognition–emotion–action.” Consequently, comprehending the effects of emotional shifts on stakeholder's decision-making processes is vital to fostering the sustainability of PPP projects.

Design/methodology/approach

The paper utilizes rank-dependent expected utility and evolutionary game theory to systematically examine the influence of emotional factors on stakeholders' behavior and decision-making processes within PPP projects. The paper integrates three emotional state functions—optimism, pessimism and rationality—into the PPP framework, highlighting the intricate interactions among the government, private sector, surrounding public and the media. Furthermore, the paper amalgamates the evolutionary pathways of environmental rights incidents with the media's role. Through equilibrium analysis and numerical simulation, the paper delves into the diverse interplay of emotions across different phases of the environmental rights incident, assessing the impact of these emotions on the evolutionary game's equilibrium results.

Findings

Emotions significantly influence the microlevel decisions of PPP stakeholders, adapting continually based on event dynamics and media influences. When the private sector demonstrates optimism and the surrounding public leans toward rationality or pessimism, the likelihood of the private sector engaging in speculative behavior escalates, while the surrounding public refrains from adopting a supervisory strategy. Conversely, when the private sector is pessimistic and the public is optimistic, the system fails to evolve a stable strategy. However, when government regulation intensifies, the private sector opts for a nonspeculative strategy, and the surrounding public adopts a supervisory strategy. Under these conditions, the system attains a relatively optimal state of equilibrium.

Originality/value

The paper develops a game model to examine the evolutionary dynamics between the surrounding public and private sectors concerning environmental rights protection in waste incineration PPP projects. It illuminates the nature of the conflicting interests among project participants, delves into the impact of emotional factors on their decision-making processes and offers crucial perspectives for the governance of such partnerships. Furthermore, this paper provides substantive recommendations for emotional oversight to enhance governance efficacy.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 25 December 2023

Isaac Akomea-Frimpong, Jacinta Rejoice Ama Delali Dzagli, Kenneth Eluerkeh, Franklina Boakyewaa Bonsu, Sabastina Opoku-Brafi, Samuel Gyimah, Nana Ama Sika Asuming, David Wireko Atibila and Augustine Senanu Kukah

Recent United Nations Climate Change Conferences recognise extreme climate change of heatwaves, floods and droughts as threatening risks to the resilience and success of…

Abstract

Purpose

Recent United Nations Climate Change Conferences recognise extreme climate change of heatwaves, floods and droughts as threatening risks to the resilience and success of public–private partnership (PPP) infrastructure projects. Such conferences together with available project reports and empirical studies recommend project managers and practitioners to adopt smart technologies and develop robust measures to tackle climate risk exposure. Comparatively, artificial intelligence (AI) risk management tools are better to mitigate climate risk, but it has been inadequately explored in the PPP sector. Thus, this study aims to explore the tools and roles of AI in climate risk management of PPP infrastructure projects.

Design/methodology/approach

Systematically, this study compiles and analyses 36 peer-reviewed journal articles sourced from Scopus, Web of Science, Google Scholar and PubMed.

Findings

The results demonstrate deep learning, building information modelling, robotic automations, remote sensors and fuzzy logic as major key AI-based risk models (tools) for PPP infrastructures. The roles of AI in climate risk management of PPPs include risk detection, analysis, controls and prediction.

Research limitations/implications

For researchers, the findings provide relevant guide for further investigations into AI and climate risks within the PPP research domain.

Practical implications

This article highlights the AI tools in mitigating climate crisis in PPP infrastructure management.

Originality/value

This article provides strong arguments for the utilisation of AI in understanding and managing numerous challenges related to climate change in PPP infrastructure projects.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 27 October 2023

Muhammad Saiful Islam, Madhav Nepal and Martin Skitmore

Power plant projects are very complex and encounter serious cost overruns worldwide. Their cost overrun risks are not independent but interrelated in many cases, having structural…

Abstract

Purpose

Power plant projects are very complex and encounter serious cost overruns worldwide. Their cost overrun risks are not independent but interrelated in many cases, having structural relationships among each other. The purpose of this study is, therefore, to establish the complex structural relationships of risks involved.

Design/methodology/approach

In total, 76 published articles from the previous literature are reviewed using the content analysis method. Three risk networks in different phases of power plant projects are depicted based on literature review and case studies. The possible methods of solving these risk networks are also discussed.

Findings

The study finds critical cost overrun risks and develops risk networks for the procurement, civil and mechanical works of power plant projects. It identifies potential models to assess cost overrun risks based on the developed risk networks. The literature review also revealed some research gaps in the cost overrun risk management of power plants and similar infrastructure projects.

Practical implications

This study will assist project risk managers to understand the potential risks and their relationships to prevent and mitigate cost overruns for future power plant projects. It will also facilitate decision-makers developing a risk management framework and controlling projects’ cost overruns.

Originality/value

The study presents conceptual risk networks in different phases of power plant projects for comprehending the root causes of cost overruns. A comparative discussion of the relevant models available in the literature is presented, where their potential applications, limitations and further improvement areas are discussed to solve the developed risk networks for modeling cost overrun risks.

Details

Construction Innovation , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1471-4175

Keywords

Article
Publication date: 12 September 2023

Pramod Malaka Silva, Niluka Domingo and Noushad Ali Naseem Ameer Ali

The construction industry is complex, human-intensive and driven by monetary values. Hence, disputes are widespread. Initial conflicts among parties may develop into a disastrous…

Abstract

Purpose

The construction industry is complex, human-intensive and driven by monetary values. Hence, disputes are widespread. Initial conflicts among parties may develop into a disastrous dispute that costs the project success and good relationships and affects stakeholders' expectations. There has been a focus on causes of construction-related disputes, and studies over the past three decades have attempted to identify a more comprehensive list of reasons for disputes. Some of these studies' limitations were geographical, project delivery methods and project types. The purpose of this study is to identify the most recent and conclusive list of causes of disputes based on current literature by undertaking a systematic literature review (SLR).

Design/methodology/approach

Considering the large number of studies that focused on causes of disputes, this study aims to develop a comprehensive list of causes, using a SLR, as it ensures that all previous articles in multiple databases are reviewed to produce a comprehensive outcome. A six-stage SLR was followed from background study to analysis and reporting.

Findings

Not surprisingly, the number of publications has increased over time, most from the Middle East region. The interconnected nature of the causes was widely emphasised. The SLR has produced eight common core causes of disputes. They are: poor contractual arrangements, employer-initiated scope changes, unforeseen site changes, poor contract understanding and administration, contractor’s quality of works, the inability of the contractor to achieve time targets, non- or delayed payments and poor quality of design. The majority of previous authors realised that disputes could be avoided by parties’ involvement during the early stages, avoiding being opportunistic and acting collaboratively.

Originality/value

Even though numerous studies have been carried out to identify the causes of disputes in the construction industry, none did a SLR. This study aggregates all the previous studies that focused on construction-related disputes systematically. Categorising causes based on the party primarily responsible help various stakeholders by providing a distinct list of factors to avoid that contribute to disputes.

Details

Journal of Financial Management of Property and Construction , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1366-4387

Keywords

Article
Publication date: 10 July 2023

Augustine Senanu Komla Kukah, De-Graft Owusu-Manu, Edward Badu, David John Edwards and Eric Asamoah

The purpose of this paper was to first identify and then model the impact of critical success factors (CSFs) of public–private partnership (PPP) power projects.

Abstract

Purpose

The purpose of this paper was to first identify and then model the impact of critical success factors (CSFs) of public–private partnership (PPP) power projects.

Design/methodology/approach

Review of empirical literature came out with 20 CSFs which were ranked by experts and industry practitioners through a two-round Delphi questionnaire survey.

Findings

These CSFs were grouped into CSF groups (CSFGs) using component analysis, and they served as the input variables for fuzzy analysis. The six components were collaboration and transparency, guarantee and permits, socio-political support, expected profitability, technical feasibility and risk allocation (RA). Overall success index of PPP power projects in Ghana was 5.966 and showed there is high impact of CSFGs on project success. Fuzzy analysis also confirmed RA as the most significant CSFG.

Originality/value

The model developed can serve as a multi-dimension CSF framework that can be used as a success attainment tool for PPP power projects. For policy developers and stakeholders, the model serves as a pointer to issues which the government/public sector must focus on to attract huge investments from the private sector in the power sector.

Details

Journal of Facilities Management , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 23 May 2023

Dezhi Li, Lugang Yu, Guanying Huang, Shenghua Zhou, Haibo Feng and Yanqing Wang

To propose a new investment-income valuation model by real options approach (ROA) for old community renewal (OCR) projects, which could help the government attract private…

Abstract

Purpose

To propose a new investment-income valuation model by real options approach (ROA) for old community renewal (OCR) projects, which could help the government attract private capital's participation.

Design/methodology/approach

The new model is proposed by identifying the types of options private capital has in the OCR project, selecting the option model most suitable for private capital investment decisions, improving the valuation model through the triangular fuzzy numbers to take into account the uncertainty and flexibility, and demonstrating the feasibility of the calculation model through an actual OCR project case.

Findings

The new model can valuate OCR projects more accurately based on considering uncertainty and flexibility, compared with conventional methods that often underestimate the value of OCR projects.

Practical implications

The investment-income of OCR projects shall be re-valuated from the lens of real options, which could help reveal more real benefits beyond the capital growth of OCR projects, enable the government to attract private capital's investment in OCR, and alleviate government fiscal pressure.

Originality/value

The proposed OCR-oriented investment-income valuation model systematically analyzes the applicability of real option value (ROV) to OCR projects, innovatively integrates the ROV and the net present value (NPV) as expanded net present value (ENPV), and accurately evaluate real benefits in comparison with existing models. Furthermore, the newly proposed model holds the potential to be transferred to various social welfare projects as a tool to attract private capital's participation.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 4 August 2023

MohammedShakil S. Malek and Viral Bhatt

Managing mega infrastructure projects (MIPs) is more complex because of time, size, social, environmental and financial implications. This study aims to address the management…

Abstract

Purpose

Managing mega infrastructure projects (MIPs) is more complex because of time, size, social, environmental and financial implications. This study aims to address the management approaches, complexity and risk factors involved in MIPs. The study focuses on project success criteria and their individual effects on the success of MIPs.

Design/methodology/approach

To address the challenges and identify the most influencing factor for the success of MIPs, the study deployed a cross-sectional survey approach. Six hundred eighty-two usable samples were collected from the respondents to understand the impact of predetermined factors on the success of MIPs. The structural equation model and artificial neural network approach were used to derive the importance of factors affecting the success of MIPs.

Findings

The study's outcome confirms that all three influencing factors: feasibility studies, community engagements and contract selection, have a significant positive impact on the success of MIPs. Community engagement amongst all three has the most influential predictor for the success of MIPs.

Originality/value

The developed model will enable practitioners and policymakers from Indian construction companies and other emerging nations to concentrate on recognized risk reduction variables to enhance project success criteria and project management success, especially for MIPs.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 24 November 2022

Xianbo Zhao

This study collected the bibliographic data of 2034 journal articles published in 2000–2021 from Web of Science (WoS) core collection database and adopted two bibliometric…

459

Abstract

Purpose

This study collected the bibliographic data of 2034 journal articles published in 2000–2021 from Web of Science (WoS) core collection database and adopted two bibliometric analysis methods, namely historiography and keyword co-occurrence, to identify the evolution trend of construction risk management (CRM) research topics.

Design/methodology/approach

CRM has been a key issue in construction management research, producing a big number of publications. This study aims to undertake a review of the global CRM research published from 2000 to 2021 and identify the evolution of the research topics relating to CRM.

Findings

This study found that risk analysis methods have shifted from simply ranking risks in terms of their relative importance or significance toward examining the interrelationships among risks, and that the objects of CRM research have shifted from generic construction projects toward specified types of construction projects (e.g. small projects, underground construction projects, green buildings and prefabricated projects). In addition, researchers tend to pay more attention to an individual risk category (e.g. political risk, safety risk and social risk) and integrate CRM into cost, time, quality, safety and environment management functions with the increasing adoption of various information and communication technologies.

Research limitations/implications

This study focused on the journal articles in English in WoS core collection database only, thus excluding the publications in other languages, not indexed by WoS and conference proceedings. In addition, the historiography focused on the top documents in terms of document strength and thus ignored the role of the documents whose strengths were a little lower than the threshold.

Originality/value

This review study is more inclusive than any prior reviews on CRM and overcomes the drawbacks of mere reliance on either bibliometric analysis results or subjective opinions. Revealing the evolution process of the CRM knowledge domain, this study provides an in-depth understanding of the CRM research and benefits industry practitioners and researchers.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 16 December 2022

Yibo Hu, Jinbo Song and Tingting Zhao

The development of China's solar photovoltaic (PV) industry is in a transition period from pursuing scale and speed to focusing on efficiency and quality. “Smart PV projects”…

Abstract

Purpose

The development of China's solar photovoltaic (PV) industry is in a transition period from pursuing scale and speed to focusing on efficiency and quality. “Smart PV projects” (SPVPs) were proposed by the ministries of the Chinese government in 2018 to encourage intelligent upgrading and to fill the gaps in traditional PV projects. However, only a small number of PV enterprises are in progress, and only a few SPVPs have been built. The intelligence level of China's PV projects needs to be improved. The purpose of this study is to analyze the willingness of the main participants to be involved in the intelligent upgrading of PV projects by establishing an evolutionary game model that includes three parties.

Design/methodology/approach

A tripartite evolutionary game model is constructed that considers PV enterprises, project owners and the government. The evolutionary stability strategies of each party and the corresponding stable conditions are obtained. The parameters that affect the decision behaviors are also analyzed.

Findings

The four stages of the intelligent upgrade of PV projects and the effects of the government subsidy strategies are examined. At different stages, adopting different measures to promote cooperation among the three parties involved is necessary. Government subsidies should be provided to PV enterprises during the initial stage and should be biased toward project owners during the intermediate stage. During the peak stage, PV enterprises constantly need to decrease project costs and improve quality and service, thus helping project owners reduce their initial investments and obtain additional gains. The government's reputation drives it to continually adopt incentive strategies.

Originality/value

This research focuses on the interactions among the three parties. Based on evolutionary game analysis, several conditions that facilitate the intelligent upgrading of PV projects are illustrated. Implications for different developing stages are proposed from the perspectives of each party for the decision-makers of SPVPs.

Details

Engineering, Construction and Architectural Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0969-9988

Keywords

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