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Article
Publication date: 4 January 2022

Sa’id Namadi Ahmed, Christine Pasquire and Emmanuel Manu

Extensive research on the importance of collaborative working (CW) and aligning stakeholders’ interests in construction has been widely conducted. But often the practice of…

Abstract

Purpose

Extensive research on the importance of collaborative working (CW) and aligning stakeholders’ interests in construction has been widely conducted. But often the practice of commercial actors during CW has often been overlooked, particularly within the UK setting, where scholars have lamented on the lack of industry-wide collaboration. This study aims to explore the factors affecting commercial actors in CW, specific to the UK construction industry.

Design/methodology/approach

The research used a context-based approach to seek stakeholders’ perspectives on the key factors affecting commercial actors in CW within the UK. Semi-structured interviews with individuals (contractors, cost consultants, designers among others) from construction and infrastructure organisations were conducted, using multiple case study investigations. The collected data was analysed using a case study approach, and principles of inductive thematic analysis to identify the key factors.

Findings

Findings from the analysis identified “institutional” factors such as transactional cost economic influence, the prevailing construction model influence and professional related drivers. Key drivers within these factors include commercial background and training, custom and practice, misaligned interests in projects, clients’ perception of consultants, cost-driven environment, conventional procurement protocols and bureaucratic functions.

Originality/value

In conclusion, these factors continue to affect CW with undue influence on commercial actors in the UK, thus preventing performance improvement demanded by successive UK Government reports. The context-based approach applied in this study is expected to provide some insight in construction management research, especially from a commercial perspective in the UK, to gain an understanding of how these factors are manifesting.

Details

Journal of Financial Management of Property and Construction , vol. 27 no. 3
Type: Research Article
ISSN: 1366-4387

Keywords

Book part
Publication date: 6 December 2017

Upinder Sawhney and Tanvi Kiran

The present study investigated the nature of Public–Private Partnership (PPP) in various subsectors of social and commercial infrastructure in India for better understanding of…

Abstract

The present study investigated the nature of Public–Private Partnership (PPP) in various subsectors of social and commercial infrastructure in India for better understanding of significant characteristics, attributes and factors governing the public private participation. The Indicator Analysis approach has been adopted to study a total of 119 Public–Private-partnered projects involving four qualitative and three quantitative indicators to help build a detailed profile of partnered projects in various subsectors of social and commercial infrastructure in India. The subnational government has been unravelled as the dominant form of government participation across all the subsectors of the social and commercial infrastructure in India. The infrastructure projects in the subsector of tourism have registered high average cost and time overruns. Further, Build-Operate-Transfer (BOT) mode has been identified as the most preferred PPP entry mode in the social and commercial infrastructure in the Indian economy. Since, the Indian economy comprises a large workforce, investment in social and commercial infrastructure projects through PPP mode can tap and harness the demographic dividend, which is critical for sustaining the growth of developing and emerging economies. The study provides a detailed account of qualitative and quantitative information about the nature of social and commercial infrastructure sector that shall facilitate successful implementation of the PPP projects in this soft infrastructure sector, which has a substantial bearing on the economic growth and human development in the Indian economy.

Details

The Emerald Handbook of Public–Private Partnerships in Developing and Emerging Economies
Type: Book
ISBN: 978-1-78714-494-1

Keywords

Article
Publication date: 16 December 2019

Yuning Wang and Xiaohua Jin

City investment companies (CICs) in China, set up and funded by the government, are playing an important role in the construction of urban infrastructure in China. The purpose of…

Abstract

Purpose

City investment companies (CICs) in China, set up and funded by the government, are playing an important role in the construction of urban infrastructure in China. The purpose of this paper is to analyze the structural risk of diversified project financing of CICs and explore its key influencing factors.

Design/methodology/approach

The best worst method (BWM) is used in this study to empirically analyze and quantitatively study the optimization of the structural risk of diversified financing of CICs.

Findings

In this study, the structural risk of diversified financing of CICs has been clearly defined, and its key evaluation indexes, including the structure of projects, the structure of financing, asset-liability ratio, earnings before interest and tax margin, the rate of return on capital and the ratio of long-term debt and short-term debt, have been determined. What is more, a comprehensive evaluation system of the structural risk of diversified financing has been established.

Originality/value

This study has established a comprehensive evaluation system of the structural risk of diversified financing. Based on the validated systematic evaluation, comparison and ranking of the structural risk of diversified financing of CICs by using the BWM, the ranking results can help investors to select the CICs with small structural risk of diversified financing to invest.

Details

Engineering, Construction and Architectural Management, vol. 28 no. 1
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 24 April 2009

Zhen Chen and Sukulpat Khumpaisal

The purpose of this paper is to introduce a novel decision‐making approach to risks assessment in commercial real estate development against social, economic, environmental, and…

4099

Abstract

Purpose

The purpose of this paper is to introduce a novel decision‐making approach to risks assessment in commercial real estate development against social, economic, environmental, and technological (SEET) criteria. It therefore aims to describe a multiple criteria decision‐making model based on analytic network process (ANP) theory, and to use an experimental case study on an urban regeneration project in Liverpool to demonstrate the effectiveness of the ANP model.

Design/methodology/approach

The paper commences with a description about risks related to commercial real estate development, and provides a list of risk assessment criteria based on literature review and experience in related areas. The ANP is then introduced as a powerful multicriteria decision‐making method. An experimental case study is finally conducted with scenarios and assumptions based on a real urban regeneration project in Liverpool.

Findings

The paper defines a group of risks assessment criteria against SEET requirements directly related to commercial real estate development. An ANP model is set up with 29 risks assessment criteria, and results from an experimental case study reveal that the ANP method is effective to support decision‐making based on risks assessment to select the most appropriate development plan; and therefore it is applicable in commercial area.

Originality/value

This paper defines SEET criteria for risks assessment in regard to SEET requirements to emphasise sustainable development; while the ANP is introduced to assess risks in commercial real estate development. The ANP model provides a platform for decision makers in commercial real estate development to evaluate different plans based on the degree of interactions among risk assessment criteria.

Details

Journal of Property Investment & Finance, vol. 27 no. 3
Type: Research Article
ISSN: 1463-578X

Keywords

Book part
Publication date: 27 April 2004

Josh Lerner and Jean Tirole

There has been a recent surge of interest in open source software development, which involves developers at many different locations and organizations sharing code to develop and…

Abstract

There has been a recent surge of interest in open source software development, which involves developers at many different locations and organizations sharing code to develop and refine programs. To an economist, the behavior of individual programmers and commercial companies engaged in open source projects is initially startling. This paper makes a preliminary exploration of the economics of open source software. We highlight the extent to which labor economics, especially the literature on career concerns’, can explain many of these projects’ features. Aspects of the future of open source development process, however, remain somewhat difficult to predict with off-the-shelf’ economic models.

Details

Intellectual Property and Entrepreneurship
Type: Book
ISBN: 978-1-84950-265-8

Article
Publication date: 19 February 2018

Guofeng Ma and Tiancheng Zhu

After the drawbacks in the process management of China PE commercial real estate development project are analyzed, it is necessary to introduce a more integrated and advanced tool…

Abstract

Purpose

After the drawbacks in the process management of China PE commercial real estate development project are analyzed, it is necessary to introduce a more integrated and advanced tool to solve them. The paper aims to discuss this issue.

Design/methodology/approach

A standard process model was proposed first. Based on the model, a coupled activity dependency model was also built by structural tool design structure matrix (DSM), the detailed matrix involving 119 activities and 322 information dependencies. Next, two large processes coupled blocks were generated by the sequencing algorithm and tearing algorithm. Then, the general simulation framework with rework probability and rework effect was introduced to do empirical research for one of the activities blocks due to the merit of solving rework of DSM.

Findings

These results showed that key activities were rearranged, that information interactive scope for them was optimized and that collaborative organization interface was built. And the expected duration after simulation was 131 days at 90 percent percentile, providing the objective basis of process arrangement to some extent and decreasing the risk of prospective yields during fund period.

Originality/value

This paper is a qualitative and quantitative practical research for the process management of PE commercial real estate development projects in China based on a real project which has begun construction in 2014.

Details

Property Management, vol. 36 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 16 January 2017

Cristiano Busco, Elena Giovannoni and Angelo Riccaboni

The purpose of this paper is to explore how accounting and control practices contribute to the persistence of the multiple logics that characterise hybrid organizations, i.e…

2801

Abstract

Purpose

The purpose of this paper is to explore how accounting and control practices contribute to the persistence of the multiple logics that characterise hybrid organizations, i.e. organizations that constantly incorporate elements from different institutional logics at the very core of their identity.

Design/methodology/approach

The authors draw on the literature regarding institutional logics and on studies exploring the enabling power of accounting to interpret the findings derived from a longitudinal case study of a hybrid organization operating in the field of brain-computer interface technology.

Findings

The study shows that the persistence of conflicting logics and innovation within hybrid organizations can be sustained through the mediating role of accounting and control practices. By engaging different interested parties within processes of innovation, these practices can establish complex interconnections between conflicting perspectives and their objects of concern. Consequently, accounting and control do not address a specific logic but instead contribute to lock different parties to their own logic, allowing them to engage and generate innovation while maintaining their diversity.

Originality/value

Whereas previous studies have explored mechanisms for keeping the multiple logics of hybrids separate or for reconciling them, the paper shows that conflicts between these logics do not need to be reduced but can be mediated to generate innovation. Additionally, the authors contribute to the literature on accounting “in action”, by illustrating the role of accounting and control practices as boundary objects that act within a broader “ecology of objects” through which innovation materializes in a context of enduring institutional pluralism.

Details

Accounting, Auditing & Accountability Journal, vol. 30 no. 1
Type: Research Article
ISSN: 0951-3574

Keywords

Article
Publication date: 26 February 2021

Jessica Smith, David John Edwards, Igor Martek, Nicholas Chileshe, Susan Hayhow and Chris J. Roberts

This study aims to excoriate, define and delineate the main drivers of “change” in commercial construction projects and generate guidelines on how to minimise exposure to the…

1378

Abstract

Purpose

This study aims to excoriate, define and delineate the main drivers of “change” in commercial construction projects and generate guidelines on how to minimise exposure to the associated adverse effects upon project stakeholders.

Design/methodology/approach

The research adopts mixed doctrines through a combination of epistemological lenses, embracing two primary philosophical stances: interpretivism, to identify the primary drivers of change based on a systematic literature review and a post-positivist, inductive approach to analyse the results of change within a Joint Contracts Tribunal (JCT) Design and Build (D&B) construction project case study.

Findings

The causal nexus of change during the construction phase is assessed and delineated; the key affecting factors are thematically grouped under headings: extent and severity; time in relation to implementing; instigating party; individual(s) responsible for managing the change; reason for the change; available resource; recoverable or non-recoverable; contract/project type; and type of client. Following this, the effects of change on key elements of the project are encapsulated and recommendations for adaptations which may provide improved experiences are offered.

Originality/value

The study tackles the common issue of managing the deleterious effects of change on commercial construction projects, defining management techniques to minimise stakeholder tribulation.

Details

Journal of Engineering, Design and Technology , vol. 21 no. 3
Type: Research Article
ISSN: 1726-0531

Keywords

Article
Publication date: 1 July 2014

John Morrissey, Niall Dunphy and Rosemarie MacSweeney

The purpose of this paper is to investigate, the functioning of value creating configurations and stakeholder interactions in networks of organisations of the retrofit industry…

1722

Abstract

Purpose

The purpose of this paper is to investigate, the functioning of value creating configurations and stakeholder interactions in networks of organisations of the retrofit industry for commercial buildings.

Design/methodology/approach

A value approach was applied to develop a model of retrofit activities. A Europe wide stakeholder engagement, consisting of over 50 face-to-face interviews with key informants with energy efficiency retrofit (EER) knowledge and expertise, informed analyses on flows of both tangible and intangible value for commercial EER projects.

Findings

Given the need to expand the EER marketplace, the sustainability of EER processes is as important as the sustainability of EER project outcomes. Understanding value creation in retrofit processes is crucial to successfully harnessing the available energy savings potential from the built environment.

Practical implications

The increasing importance of externalities, such as carbon, means that previously unaccounted for costs are now being considered in business models. For EER projects, the challenge is to respond to this new business environment, while maintaining adequate value for stakeholders. For commercial property developers, this means a growing impetus to understand the value propositions of other EER stakeholders.

Originality/value

The evaluation of value creation across business relationships such as those of the construction industry has not been conducted in a systematic manner to date. This paper provides a novel application of value analysis. Interrogating materials and monetary flows, value interactions between stakeholders and stakeholder perception of value are vital in fostering the long-term capacity of the EER sector.

Details

Journal of Property Investment & Finance, vol. 32 no. 4
Type: Research Article
ISSN: 1463-578X

Keywords

Article
Publication date: 28 October 2013

Sudi Nangoli, Arthur Ahimbisibwe, Sheila Namagembe and Hassan Bashir

The purpose of this paper is to examine the human dimension of project management by establishing the extent to which social networks influence the commitment of project

892

Abstract

Purpose

The purpose of this paper is to examine the human dimension of project management by establishing the extent to which social networks influence the commitment of project stakeholders. Up to date, project managers still identify inadequate stakeholder commitment to project undertakings as a key antecedent of project failure and so efforts aimed at addressing this challenge are highly valued. The paper therefore explores the use of social networks as one of the possible strategies to enhance project-stakeholder commitment.

Design/methodology/approach

The paper adopts a quantitative, cross-sectional study design. Based on responses from 172 project stakeholders who took part in a sample of 92 citizenship projects conducted by major commercial banks in Uganda, hierarchical regression was used to indicate what happens to a model as different predictor variables are introduced The use of specific type of projects minimizes bias in results due to the unique nature of specific projects hence enhances reliability of results.

Findings

The results from statistical analysis reveal that social network elements (network transitivity and network degree) are significant predictors of project stakeholder commitment. The results also suggest that network transitivity is a better significant predictor of project-stakeholder commitment than network degree

Practical implications

Project-stakeholder commitment has been widely studied in relation to project performance and the study makes a number of contributions to the theory and study of projects. First and foremost, the paper studied project social networks and project-stakeholder commitment in citizenship projects in commercial banks in Uganda which is a developing country. The study therefore contributes to an understanding of project social networks and project-stakeholder commitment in citizenship projects of commercial banks in a developing country. The implication of the findings is that it provides a different view point of understanding the aspects that affect project commitment. A lot of focus has been placed on improving project performance in Uganda, but none has specifically focussed on building project-stakeholder commitment through the use of project social networks.

Originality/value

Earlier attempts to investigate the impact of social networks on commitment in projects did not study commitment among individuals. Also, no previous empirical study in less developed countries has given special attention to the effect of social networks on project-stakeholder commitment especially in the domain of citizenship projects which have gained a lot of momentum around the globe. The study results indicate that getting concerned with the nature of social networks the project creates and the means it uses to maintain such networks has implications for project-stakeholder commitment.

Details

Journal of Strategy and Management, vol. 6 no. 4
Type: Research Article
ISSN: 1755-425X

Keywords

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