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This study aims to build on social capital theory (SCT) and its dimensions by examining the role of social capital in the public procurement process and by identifying related contingencies that may influence procurement performance.

A systematic literature review and a thematic analysis regarding social capital in procurement are conducted. The antecedent–behaviour–consequence (ABC) model is used for illuminating linkages between social capital, contingencies and procurement performance.

The dimensions of social capital are investigated in the procurement process; however, the extent of social capital role can vary between the phases of the process. It is concluded that the contingencies of social dynamics are linked with social capital and may influence the outcomes and performance of the procurement process.

Social capital can ease interactions between public buyers and private suppliers by contributing to effective tendering, improving social interaction in negotiations and balancing rigidity in contract management, supporting the interests of both parties. The provided framework helps decision makers to comprehend the social dynamics in public procurement.

Improving social dynamics and solutions in public procurement.

This study extends social capital research in the field of public procurement and creates a framework connecting social capital and prevailing contingency factors to procurement process performance.

The determination of the most appropriate procurement system for a capital works project is a challenging task for public sector clients considering the array of assessment criteria that are considered and the procurement methods that are available. This is particularly pertinent to the Western Australian public sector where there has been a propensity to use traditional lump sum as the default procurement solution despite knowing that the selection of an inappropriate procurement method may lead to cost and time overruns, claims, and disputes on projects. This paper aims to present a six‐step procurement method evaluation approach that requires public sector agencies to consider in detail an array of options so as to obtain value for money.

A procurement evaluation approach is developed and is examined using a focus group of 12 participants comprising a public sector client, project team and key stakeholders. The focus group was used to examine the developed approach in the context of a real‐life capital works project.

The procurement method evaluation approach was deemed to be pragmatic and enabled decision makers to re‐evaluate outcomes from previous steps in the process. All focus group participants stated the six step process enabled a recommendation that was grounded in reflection and detailed evaluation.

The developed procurement approach has enabled the public sector client to evaluate the way in which it views procurement method selection and examines how “value for money” is obtained.

The six‐step procurement approach makes use of quantitative and qualitative techniques and is reliant on discourse and reflection in making a procurement method recommendation. Consequently, the approach enables public sector clients to account for the complexities often associated with procurement selection.

Supplier selection for capital procurement is a major strategic decision for any automobile company. The decision determines the success of the company and must be taken systematically with the utmost transparency. The purpose of this paper is to construct capital procurement decision-making model to optimize supplier selection in the Indian automobile industry.

To achieve the stated objective, a combined approach of fuzzy theory and AHP-DEMATEL is applied. Evaluation parameters are identified through an extensive literature review and criteria validation has been introduced through a Fuzzy Delphi method by using fuzzy linguistic scales to handle the vagueness of information. AHP is employed to find the priority weight of criteria, although an inter-relationship map among criteria is not possible through AHP alone since it considers all criteria as independent. To overcome this, DEMATEL is used to establish cause-effect relationships among criteria.

The results show that the total cost of ownership (TOC) is the first weighted criterion in supplier selection for capital procurement, followed by manufacturing flexibility and maintainability, then conformity with requirement. The cause-effect model shows that supplier profile, TOC, service support and conformity with requirement are in the cause group and are considered to be the most critical factors in selecting the supplier.

The study’s outcome can help the automobile industry to optimize their selection process in selecting their suppliers for capital procurement; the proposed model can provide guidelines and direction in this regard.

Contracting practice and theory is based upon a legal framework which impedes the attainment of value, defined as quality and cost containment. The manufacture of complex, highly technical infrastructure is especially impeded. Constraints of the legal framework are being overcome through innovative infrastructure contracting practices which maintain competitiveness and accountability, and simultaneously foster collaboration among the participants. Some of these innovations are discussed along with five projects which utilized one or more of them. A management framework for contracting based on a competitive/collaborative model is offered which emphasizes value, cooperation, long-term relationships, accountability and stewardship.

The purpose of this paper is to detect how Value for Money (VfM) in Italian Project Finance (PF) investments can be enhanced and challenging criticalities minimized, with a synergistic interaction of macroeconomic, legal and institutional actions.

Analysis of VfM quantitative key drivers, within a public-private partnership (PPP) framework with specific reference to a recession context, with infrastructural capital rationing implications. Empirical evidence is given by an Italian PF healthcare model, testing the impact of legal and macroeconomic changes.

Deleverage, ignited by W-shaped recession, disinflates PPP investments, so forcing to innovative and penniless solutions. Unreliable and short-sighted legislation and consequent unfriendly business climate may frighten investors, so decreasing competition and VfM.

VfM sensitivity to macroeconomic and legal/institutional parameters is too wide and capriciously erratic to be comprehensively modeled. Tips for further research include pro-growth tax and budgetary policies, risk minimization issues and other synergistic targets.

Guidance to regulators to fine tune legal and institutional tools, so as to create a stable, business friendly environment. Recessions may be softened by sensitive policymaking, or exacerbated by short-sighted ignorance and lack of strategic focus.

Unprecedented analysis of legal and macroeconomic changes on VfM in Italian PF investments, with original tips for VfM optimization, in a comprehensive PPP framework.

The purpose of this paper is to develop and validate an innovative Fuzzy Recognition Based‐Benefit Estimation Model (FRB‐BEM) to quantify the benefits obtained from a Mid‐Project Review (MPR) (e.g. the Gateway Review Process (GRP)). This is a quantitative assessment to evaluate the benefits obtained from conducting MPRs. With the wide adoption of MPR internationally, such measurements will better support critical decisions in capital projects and also assist to optimize project lifecycle performance.

This paper adopted Relative Membership Degree (RMD) based fuzzy sets as the fundamental theory to develop the FRB‐BEM utilizing linguistic information from MPR reports. It was then tested by analysis of an aviation IT project that underwent a Gateway review. A parametric study was also conducted to calibrate the model.

The FRB‐BEM developed and validated in this paper provided a viable approach to quantify the total benefits obtained from undertaking MPRs.

Refinement of the FRB‐BEM assumptions would benefit from testing against a wide project sample set.

Using the FRB‐BEM applications to better demonstrate the benefits of MPRs.

The paper demonstrates how FRB‐BEM has extended RMD based fuzzy sets theory into applications for MPRs and incorporated fuzzy level values based on linguistic interpretation of hard data.

It is generally recognized that consumer cooperatives are at a disadvantage when raising capital as compared to conventional capitalist firms. The purpose of this paper is to explore a method for consumer cooperatives to issue transferable membership shares as financial securities and raise non-redeemable equity. The author examines if such a method can strengthen the financial viability of consumer cooperatives in the market economy.

The author first explain the mechanism by using diagrams of the circular flow of factors of production and the product. The author then developed a simple formal model and compare the amount of equity capital raised by a capitalist firm and a consumer cooperative.

The author found that the amount of equity that a consumer cooperative can raise by issuing shares of membership is greater than the amount of equity that a capitalist firm can raise by issuing shares of stock.

More research effort is required to apply the theory discussed in this paper for practical use.

Consumer cooperatives have many good features that conventional capitalist firms do not have. However, the scale and scope of consumer cooperatives have been quite limited partly because of the problem of finance. The method presented in this paper is expected to improve the financial viability of consumer cooperatives and promotes their activities in the market economy.

This paper regards the membership of a consumer cooperative as a kind of financial security and as a tool for procuring capital for investment. As far as the author knows, the present paper is the first one that presents such a concept.