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Religiousness is evident in every aspect of life, and its impact on construction project performance is undeniable. However, little has been done to fully understand the influences one's religiosity has on performance factors. This paper aims to explore the influence of religious elements on performance factors in the Ghanaian construction industry (GCI).

Using a desk survey and closed-ended questionnaire, data were obtained from the three religious' bodies (Christianity, Islamic and Traditionalist) in Ghana. The analysis of the collected data was done using mean score ranking and regression analysis.

It was revealed that most of the religious bodies were aware of the presence of the seven factors identified for measuring construction project performance. The findings suggested that there was a significant and positive relationship between the religious elements (of all the three religions) and cost as well as schedule performance. Islam recorded the highest relationship in influencing public construction project performance relative to cost performances. Specifically, 1% increase in Islamic elements accounted for an 82.7% increase in cost performance. Traditionalists and the Christian religion had minimal significance in influencing cost performance. Furthermore, a 1% progress in Islamic elements accounted for a 45.8% increase in the schedule performance of construction projects and among construction professionals.

This study has provided better understanding of the religious views on project performance. This research has also provided pragmatic directions to project stakeholders to encourage religious groups to take critical look at the other performance factors that were seen not to be significant.

This paper represents a novel attempt to measure the influence of religious elements on project performance factors in the construction industry. A key contribution to the body of knowledge is that the study has proven that religious element has tendencies to influence cost performance and schedule performance in the construction industry.

Successful execution of public–private partnership (PPP) projects is the most desirable outcome to all stakeholders. Previous studies show that one of the topmost obstacles to fulfil this desire on the project is financial risks. Nonetheless, inadequate holistic studies exist on linking the management of this challenge to the financial returns of the project. This study aims to develop a theoretical framework interrelating financial risks, financial controls and financial performance of PPP projects.

The theoretical framework is informed and supported by existing theories and previous empirical studies from construction management, finance and economics. The underlying theories captured in the framework were chosen for their relevance and applicability to PPP projects. The propositions developed from the analysis of the theories and the empirical literature are summarised in three main hypotheses and 26 operationalised sub-hypotheses.

The major elements of the framework include the financial risks and 12 sub-themes which are commonly experienced on PPP projects. Financial policies and procedures on controlling financial losses of the projects are also included in the framework. Lastly, this study creates financial criteria on the projects which are intrinsically embedded in the framework to serve as benchmark to support the measurement of financial success.

This study is a theoretical review of classical theories and empirical studies, and therefore, not all researches and managerial controls have not been included in this framework due to restricted time and limited studies on the topic.

This paper would serve as a multidimensional guide to project managers to mitigate financial risks and hopefully enhance the financial success of PPPs. Theoretically, this paper outlines the dimensions of managing financial risks of PPPs that require valid and reliable measurement to test the interrelationships of the constructs by further studies in the construction research community.

This theoretical framework makes ambitious efforts to embrace multifaceted theories from different disciplines to shed light on holistic mechanisms to mitigate financial risks to improve financial returns of PPP projects.

The apparent lag between macro-economic behavior and financial implications in the construction industry is yet to be examined. The purpose of this paper is to understand the nature of the lag and the relationship between economic changes from year-to-year and the impact on the financial status of construction companies.

Correlation was made between US economic growth and construction industry financial indicators over a 28-year period. Cumulative per cent growth in US GDP was considered an independent variable, while nine financial ratios were calculated and considered dependent variables in this study.

The results of this study found that correlation improved when considering lag of two, three or sometimes four years after the economic event. Some financial ratios proved more sensitive than others, supporting the hypothesis of this study.

The practical application of this study for construction companies is to understand how the construction industry lag impacts financial behavior. It therefore informs managerial decisions related to solvency, liquidity, equity structure and managerial practices; all of which are measured by financial ratios.

This study was intended to advance the research in this area and also to serve to strengthen industry members in their financial management of construction companies. Economic dynamics have long-lasting implications, which can be addressed through an increased focus on managing financial health.

Though the lag is intuitively known and has been studied from market perspectives, there is a lack of empirical study evaluating the impact of lag on financial key performance indicators.

The purpose of this paper is to discuss the main factors that affect the construction cost of affordable housing in Saudi Arabia.

A survey of 14 consultants, 16 contractors and five real estate investors was performed. The survey included 34 different factors affecting the construction cost of affordable houses and their degree of importance. The severity of those factors was measured by the level of importance and ranked according to the severity index for consultants, contractors and real estate investors and a combination of all respondents.

There is an agreement (correlation) by each group and the overall ranking by all participants. It was concluded that inadequate labor availability, material standards, design quality and design changes are the most severe factors with relatively high overall scoring.

The paper provides a holistic approach that considers all factors affecting affordable housing in Saudi Arabia and the interplay between them. It will serve as a guide to the focus areas to be considered in policy development aiming at improving conditions in the construction industry for affordable housing programs.

The purpose of this paper is to propose a comprehensive approach to the valuation of an infrastructure concession right and quantitative risk management projects in the People's Republic of China.

The paper outlines a methodology, incorporating an economic model to appraise the dynamic value and risk of concession investment in the context of the design of concession contracts.

The framework of the study simulates the present value of net cash flow and identifies probability with different parameters in concession contracts as a way to establish a correlation between parameters and net present value distribution. Moreover, the paper uses the technique of value‐at‐risk to set up an economic model to appraise the dynamic value and risk of a concession investment and analyse the key issues in the concession contracts design phase.

It is difficult to estimate precisely the distribution of parameters in the model. In particular, estimating shortfalls in the rate of return of the concession project, the appreciation rate of the future operating cash flow and the market rate of return all have significant impact on the results.

This study frames examines the concession rights mode in a traffic infrastructure construction project and provides potential developers and potential host governments with a reasoned approach to evaluating risk and capital investment in potential concession projects.

The paper offers insights into the risk management, financing and valuation of infrastructure concession rights concerning the Guangshen Freeway in China.

The purpose of this paper is to define and quantify the term robustness within the context of a Private Finance Initiative (PFI) project environment from the perspective of the Granting Authority. The paper is conceptual, based on conceptual generalisations.

The paper considers the theory of systems thinking within PFI procurement. This is further integrated with the concept of robustness and resilience used extensively in the ecology discipline. Combining the two, this paper presents a mathematical approach of quantifying robustness in PFI projects.

An analytical model is used to support the mathematical analysis to quantify and define robustness.

The quantifying of robustness is based on the principal assumptions presented in the paper. The principal assumptions provide an ideal situation which is necessary to pursue and develop the proposed approach to quantify robustness. Changes to the assumptions may affect the generalisability of the approach.

The paper provides a greater definition to robustness within PFI projects and the possibility of quantifying robustness to better monitor and manage the characteristic.

Online Information Meeting — 1978 London, December 5–7,1978. Following the successful meeting held in London last year and reported in the March 1978 issue of this journal, Online Review is sponsoring the 2nd International Online Meeting which will be held at the Commonwealth Institute in London, England on December 5–7, 1978.

The purpose of this paper is to identify and analyse the crucial variables of pedestrian flow value of the shopping centres in Hong Kong.

The study identifies the key determinants of pedestrian flow value (PFV) which is measured by net rental income per floor area per pedestrian flow. Based on the rental and pedestrian flow survey data of 146 shopping centres along the subway (Mass Transit Railway) stations in Hong Kong, the authors have estimated the marginal effects of these determinants on the PFV. The research explains different variations' impacts of pedestrian flow on the rental value of the shopping centres in Hong Kong.

It is found that shopping centres owned by the same owners tend to achieve a lower PFV, which suggests that owners of multiple shopping malls may adopt a uniform pedestrian flow management strategy that may not be ideal for each individual mall.

This study focuses on the shopping centres that are located along the railway stations. Researchers are encouraged to test the shopping centres that are less affected by the railway stations.

It is useful for shopping centre owners and operators to determine the optimal strategy for managing pedestrian flow in their shopping centres.

The relationship between pedestrian flow and the shopping centre value is coined in the research as pedestrian flow value (PFV) which is to calculate the pedestrian flow effectiveness measured by net rental income per floor area per pedestrian flow.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.