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Article
Publication date: 28 September 2010

Huan Yang, John F.Y. Yeung, Albert P.C. Chan, Y.H. Chiang and Daniel W.M. Chan

The purpose of this paper is to critically review the literature of performance measurement both in general and in the construction industry in particular. By doing so, it…

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Abstract

Purpose

The purpose of this paper is to critically review the literature of performance measurement both in general and in the construction industry in particular. By doing so, it seeks to provide valuable insights into how to construct a comprehensive performance measurement model for the construction industry.

Design/methodology/approach

Based on a comprehensive literature review on performance measurement, the paper presents a critical review of the development of performance measurement, with a special focus on the construction sector. The strengths and weaknesses of most previous measurement frameworks and techniques are investigated. Performance information that each can generate is analyzed in the context of the construction industry.

Findings

The research findings showed that performance measurement studies in construction can be divided into three levels: project, organizational, and stakeholder levels. In addition, the major frameworks of performance measurement in construction were found to be: European Foundation for Quality Management excellence model, balanced scorecard model, and key performance indicators model. The most frequently applied research techniques of performance measurement in construction included: gap analysis, integrated performance index, statistical methods, and data envelopment analysis method. The performance information generated from the measurement encompasses frameworks and hierarchical indicators, and functions and score.

Research limitations/implications

The research focuses on the performance measurement of construction. Further research work should be conducted to cover other industries.

Practical implications

The paper provides an innovative and useful approach to defining the process of performance measurement in construction, which can be of great use to both the research community and industrial practitioners.

Originality/value

The paper summarizes the recent performance measurement research studies in construction, integrates the whole process of the performance measurement, and offers useful insights into future areas of research in this field.

Details

Journal of Facilities Management, vol. 8 no. 4
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 22 February 2011

Joseph H.L. Chan, Daniel W.M. Chan, Albert P.C. Chan, Patrick T.I. Lam and John F.Y. Yeung

The purpose of this paper is to develop a fuzzy risk assessment model for construction projects procured with target cost contracts (TCC) and guaranteed maximum price…

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Abstract

Purpose

The purpose of this paper is to develop a fuzzy risk assessment model for construction projects procured with target cost contracts (TCC) and guaranteed maximum price (GMP) contracts using factor analysis (FA) and fuzzy synthetic evaluation method, based on an empirical questionnaire survey with relevant industrial practitioners in Hong Kong.

Design/methodology/approach

A total of 34 key risk factors (RFs) inherent with TCC/GMP contracts were identified through an extensive literature review and a series of structured interviews. A questionnaire survey was then launched to solicit the opinions of industrial practitioners on risk assessment of such RFs.

Findings

The most important 17 principal RFs after the calculation of normalised values were selected for undertaking FA. Five principal risk groups (PRGs) were then generated in descending order of importance as: design risks, pre‐contract risks, economic and financial risks, lack of experience in TCC/GMP procurement process and post‐contract risks. These survey findings also reveal that design risks may be the major hurdle to the success of TCC/GMP projects in Hong Kong.

Originality/value

An overall risk index (ORI) associated with TCC/GMP construction projects and the risk indices of individual PRGs can be generated from the model for reference. An objective and reliable assessment can be achieved. The model provides a solid platform to measure, evaluate and reduce the risk levels of TCC/GMP projects based on objective evidence instead of subjective judgments. The research methodology could be replicated in other countries or regions to produce similar models for international comparisons and the assessment of risk levels for different types of TCC/GMP projects worldwide.

Details

Journal of Facilities Management, vol. 9 no. 1
Type: Research Article
ISSN: 1472-5967

Keywords

Article
Publication date: 7 July 2020

Yan-Chun Zhang, Wu-Zan Luo, Ming Shan, Dong-Wen Pan and Wen-Jie Mu

The aims of this study are to conduct a systematic review of public–private partnership (PPP) studies published from 2009 to 2019, to compare the results with Ke et al.

Abstract

Purpose

The aims of this study are to conduct a systematic review of public–private partnership (PPP) studies published from 2009 to 2019, to compare the results with Ke et al. (2009) who reviewed the PPP literature published from 1998 to 2008, and to trace the evolution of the PPP knowledge in the past two decades. This study also presents the possible directions that the PPP research may go towards in the future, arguably.

Design/methodology/approach

This study carried out a top journal-based search to identify the quality PPP articles published from 2009 to 2019. A total of 12 top-tier construction journals were systematically searched in the database of web of science (WOS), from which 279 PPP articles were identified for review.

Findings

The number of the identified articles, the titles of the journals, institutions, the most cited papers, and prevalent research methods were analyzed and compared. The existing PPP studies in construction journals were classified into seven streams. Through analysis of the PPP research status and gaps, five future research directions were revealed.

Originality/value

This study contributes to the current body of knowledge by revealing the research trend of PPP from 2009 to 2019. It presents the change of PPP development trend in the past decade through comparison with Ke et al. (2009). It also reveals the major research streams and points out the directions that the PPP research may go towards in the future. Moreover, this study is helpful to the practice as well. It can enhance the practitioners' understanding of the PPP development in the past decade. In addition, it identified the research institutions contributing the most in the area of PPP, which may serve as valuable reference for practitioners to locate the best institutions for consultancy or collaboration.

Details

Engineering, Construction and Architectural Management, vol. 27 no. 10
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 27 September 2021

Xiancun Hu, Xianhu Hu, Qinghong Cui, Yan Li, Charles Lemckert and Aifang Wei

This paper presents a developed spatial-temporal analysis framework for the case of investigating the business performance of construction consultancy services (CCS) in China.

Abstract

Purpose

This paper presents a developed spatial-temporal analysis framework for the case of investigating the business performance of construction consultancy services (CCS) in China.

Design/methodology/approach

The spatial-temporal analysis is based on the data envelopment analysis (DEA) technique. The spatial analysis follows the DEA results under a contemporaneous benchmark technology and a virtual decision-making unit, consisting of ranking analysis, cluster analysis and variation analysis. The temporal analysis is reliant on the DEA results under a global benchmark technology and the time value of money, including trend analysis and driving force analysis containing pure technical and scale efficiency factors.

Findings

Three CCS types in China are investigated, including engineering survey and design, construction supervision and procurement agency. The performance rank order and cluster classifications are mainly related to economic development levels. Engineering survey and design demonstrates the best performance and higher imbalances; however, construction supervision and procurement agency illustrate lower performance and imbalances. Scale efficiency significantly promotes business performance, whereas pure technical efficiency plays an inconspicuous role.

Practical implications

The CCS promote technical efficiency by developing their service and innovation levels. The service of engineering survey and design registered in Beijing, Shanghai and Guangdong is recommended for entering the service market in China.

Originality/value

The spatial-temporal analysis framework was developed, which is generic and provides a pathway to measure, compare and assess performance comprehensively. The CCS business performance is firstly measured.

Details

Engineering, Construction and Architectural Management, vol. 29 no. 10
Type: Research Article
ISSN: 0969-9988

Keywords

Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

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Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

Article
Publication date: 11 November 2010

Rolf Mirus and Bernard Yeung

We examine the mode of international expansion as an equilibrium governance contract between home country and host country factor owner. The focus is on agency costs, a…

Abstract

We examine the mode of international expansion as an equilibrium governance contract between home country and host country factor owner. The focus is on agency costs, a form of transactions costs. Two phenomena are shown to be related to the agency costs imposed by factor owners: (i) the choice of different modes of international expansion by one firm in different locations, and (ii) the simultaneous occurrence of several forms of foreign involvement in the same location. We attempt to characterize the dynamic relationship between the mode of an offshore operation and changes in factor market conditions that affect agency costs.

Details

Multinational Business Review, vol. 18 no. 4
Type: Research Article
ISSN: 1525-383X

Keywords

Article
Publication date: 19 August 2010

Ziyi Wei

Since China initiated its “go global” policy that promotes its overseas investment, China’s Outward Foreign Direct Investment (OFDI) has increased almost twenty times…

2237

Abstract

Since China initiated its “go global” policy that promotes its overseas investment, China’s Outward Foreign Direct Investment (OFDI) has increased almost twenty times during the last 10 years, reaching $55.9 billion in 2008. The issue of internationalization of Chinese OFDI has attracted increasing attention of researchers from a business perspective. This article systematically reviews the previous studies on overseas investments by Chinese MNEs and discusses the characteristics of Chinese internationalization behavior at both firm level and country level. The internationalization of Chinese companies cannot be understood as a simple game of “catch up” with established MNEs, and more firm‐level empirical studies should be carried out on how these characteristics influence firms’ strategic decisions.

Details

Multinational Business Review, vol. 18 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

Book part
Publication date: 6 September 2018

Debarati Bhattacharya, Tai-Yu Chen and Wei-Hsien Li

This paper studies how a firm reacts to the threat from product market competition. Consistent with the strategic equilibrium model, we find that a firm increases…

Abstract

This paper studies how a firm reacts to the threat from product market competition. Consistent with the strategic equilibrium model, we find that a firm increases investment in response to external product market threats. Further, the paper analyzes whether product market threats lead to an improvement in investment efficiency. When faced with product market competition, we find that firms that are otherwise likely to underinvest (overinvest) increase (increase) their investment significantly (less than the firms that are likely to underinvest) in the next period. However, firms that are predisposed to overinvest do not make cuts in capital expenditure, which indicates that strategic investment is a critical countermeasure for addressing competitive threats for all firms, their inclination to make suboptimal investment decisions notwithstanding. Overall, the evidence supports the predatory risk of waiting as well as competition and investment efficiency hypotheses. Additional tests suggest that product market threat partially substitutes for other external monitoring mechanisms designed to manage agency problems.

Article
Publication date: 1 June 2002

Barrie O. Pettman and Richard Dobbins

This issue is a selected bibliography covering the subject of leadership.

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Abstract

This issue is a selected bibliography covering the subject of leadership.

Details

Equal Opportunities International, vol. 21 no. 4/5/6
Type: Research Article
ISSN: 0261-0159

Keywords

Book part
Publication date: 18 October 2019

John Geweke

Bayesian A/B inference (BABI) is a method that combines subjective prior information with data from A/B experiments to provide inference for lift – the difference in a…

Abstract

Bayesian A/B inference (BABI) is a method that combines subjective prior information with data from A/B experiments to provide inference for lift – the difference in a measure of response in control and treatment, expressed as its ratio to the measure of response in control. The procedure is embedded in stable code that can be executed in a few seconds for an experiment, regardless of sample size, and caters to the objectives and technical background of the owners of experiments. BABI provides more powerful tests of the hypothesis of the impact of treatment on lift, and sharper conclusions about the value of lift, than do legacy conventional methods. In application to 21 large online experiments, the credible interval is 60% to 65% shorter than the conventional confidence interval in the median case, and by close to 100% in a significant proportion of cases; in rare cases, BABI credible intervals are longer than conventional confidence intervals and then by no more than about 10%.

Details

Topics in Identification, Limited Dependent Variables, Partial Observability, Experimentation, and Flexible Modeling: Part B
Type: Book
ISBN: 978-1-83867-419-9

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