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1 – 10 of 18Mohammad Nafe Assafi, Md. Ikramul Hoque and Md. Mehrab Hossain
Construction delay always causes massive damage to the advancing construction industries, which is no different in the case of Bangladeshi construction industries. This paper aims…
Abstract
Purpose
Construction delay always causes massive damage to the advancing construction industries, which is no different in the case of Bangladeshi construction industries. This paper aims to investigate the major delay factors causing construction delays in public-funded, mixed and private-funded construction projects of Bangladesh. Also, it offers preventive suggestions from expert stakeholders to reduce the recurrence of delays.
Design/methodology/approach
At first, an extensive literature review was conducted to identify the thirty-seven major delay factors categorized under seven groups. A questionnaire was then developed for survey at ongoing construction projects at a different division of Bangladesh. Next, data from 110 respondents were collected, and the delay factors were ranked based on the Relative Importance Index (RII); lastly, probable solutions were suggested for top-ranked delay factors based on opinions from expert stakeholders in the construction sector of Bangladesh.
Findings
The overall RII ranking of the 37 delay factors showed “Construction mistakes and defective work,” “Contract modifications by the client” and “Adverse weather condition” as the top three factors causing the delay. For public-funded projects, “Construction mistakes and defective work” and “Slow decision making by a consultant” are the top delay factors. For mixed projects, “Slow decision making of the client” and “Construction mistakes and defective work ranked top, and for private-funded projects, “Financial problems and payment delay of the client” and “Adverse weather condition” ranked top. These nuances of ranking in individual project types ascertain that the causes of delay vary in terms of project features.
Practical implications
The outcome of this project will help identify the significant delay factors based on their severity of effectiveness associated with public-funded, mixed and private-funded projects in Bangladesh. The suggestions regarding preventing these delay factors obtained through the opinions of expert stakeholders can help reduce the effect of these delays in the context of Bangladesh and in countries where the similarity in construction environment prevails.
Originality/value
Previously, studies on construction delays in Bangladesh focused mainly on identifying the delays using qualitative analysis techniques. This study is based on a unique methodology of integrating quantitative research on delay factor identification and qualitative research on preventive measures following the opinions gathered from expert stakeholders in the construction sector.
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Emmanuel Asare, De-Graft Owusu-Manu, Joshua Ayarkwa and David John Edwards
The concept of working capital management (WCM) has been a fundamental financial accounting term that has evolved in financial theory for centuries. Given that the construction…
Abstract
Purpose
The concept of working capital management (WCM) has been a fundamental financial accounting term that has evolved in financial theory for centuries. Given that the construction industry (CI) is financially dynamic, there is an imperative need to understand its WCM practices. The call for the industry players to adhere to efficient financial management practices as a result of a huge financing gap requires consented effort. This study aims to explore the trend of practices of WCM in the CI and elicit a broader polemic dialogue about this crucial theme.
Design/methodology/approach
The source of information for the study was secondary mainly from referenced journals and international conference papers published on WCM relating to the CI. A three-step sample selection strategy was adopted to identify the range and scope of publications on WCM in the CI based on the systematic literature review method.
Findings
The CI cannot boost of enough empirical WCM research to gain in-depth understanding of its practical trend. The developing economies are failing to produce insightful peer-reviewed papers on WCM to assist in bridging the infrastructural financing gap through apposite strategies. Gaining appropriate knowledge of the short-term financial operations through a conceptualization of WCM practices in the CI may lead to better strategies formulated for smooth operations.
Originality/value
This is a pioneering paper in developing economies that have taken stock of WCM knowledge of the practical trend in the CI. Future research prospects in which WCM matters can use it as a reference point.
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Dickson Osei-Asibey, Joshua Ayarkwa, Benjamin Baah, Aba Essanowa Afful, Gloria Anokye and Prince Asher Nkrumah
Many investors have less interest in tendering for public-private partnership (PPP) construction projects as a result of the uncertain risks associated with the project delivery…
Abstract
Purpose
Many investors have less interest in tendering for public-private partnership (PPP) construction projects as a result of the uncertain risks associated with the project delivery. Moreover, PPP project stakeholders have inadequate information about the probable impacts of time-based delay imposed on PPP projects under the PPP arrangement. This study aims to identify and categorize construction stakeholders’ perceptions of the impact of time-based delays on PPP construction projects.
Design/methodology/approach
A purposive sampling technique was adopted where questionnaires were used as the primary instrument for gathering data from PPP experts. Cronbach’s alpha coefficient and Kendall’s concordance were used to measure the reliability of the scale and the respondent’s level of agreement, respectively. One sample t-test, mean score ranking and principal component analysis were used to analyse the identified time-based delay impacts.
Findings
The study revealed seven significant impacts of time-based delay on PPP construction project delivery as: “project schedule overrun”, “idling of project resources”, “project cost overrun”, “poor quality of completed works”, “delayed realization of project benefits”, “frequent arbitration/litigation in PPP projects” and “total abandonment of PPP projects”. The study further identified the top five significant impacts of time-based delay on PPP project stakeholders as: “reduction in motivation to attract investment”, “high interest on finance (loans)”, “contractor in financial crisis”, “loss of public confidence in government” and “reduction in parties’ reputation”.
Practical implications
The identified significant impacts of time-based delays will increase stakeholders’ awareness of the repercussions and effects that time-based delays may impose on PPP construction projects if not appropriately managed throughout the project implementation. This awareness will further guide stakeholders to implement targeted risk management strategies to minimize the negative consequences of delays on PPP project performance.
Originality/value
As a pioneering study that provides a better understanding of the impacts of time-based delays on PPP construction projects, this study enhances knowledge of PPP construction project implementation.
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Mahesh Babu Purushothaman, Leo Neil Resurreccion San Pedro and Ali GhaffarianHoseini
This review paper aims to highlight the causes of delays (COD) and their interactions in construction projects, potentially aiding in timely completion and waste reduction through…
Abstract
Purpose
This review paper aims to highlight the causes of delays (COD) and their interactions in construction projects, potentially aiding in timely completion and waste reduction through early anticipation.
Design/methodology/approach
Forty-seven global literature were examined in detail to identify CODS and its interactions using the systematic literature review (SLR) method that utilised the PRISMA guidelines to ensure the studies reviewed were adequate to safeguard the robustness and comprehensiveness. Three-way analysis, such as Pareto, degree of centrality and loops, was undertaken to identify the critical Level 1,2 and 3 CODS that affect the Construction projects.
Findings
The research findings demonstrate that 65 CODs in eight categories affect construction projects. The CODs act in coherence rather than silos; the CLD displays complex interconnections of 44 factors obtained through the pairwise comparison of the 47 identified literature of the SLR. Through its systematic analysis of interaction loops, this research identified Ten level 1 critical CODs, two second-level critical CODs and 4 Third-level critical CODs. “Contractors' excessive workload/beyond potential/inadequate experience” emerged as the top COD that affects scheduling and project delay.
Research limitations/implications
The study limitations include using only English articles and a restricted number of databases. However, the chosen databases were reputable and underwent thorough peer review processes. This study may have limitations due to the SLR, which means that factors affecting COD and interactions may vary by country, and future research is suggested for validation.
Practical implications
This study identified interactions of construction delays that potentially support scheduling risk management during the early stage of the project and reduce waste to improve sustainability. The theoretical implications of SLR-based research include helping develop a framework that would potentially have all COD in the current scenario and aid future academic and industrial research factor-wise and country-wise in aiding sustainability. This will support and provide construction professionals and academia with knowledge of the COD related to factors and their interactions to be considered in the early assessment and management of future projects and improve sustainability.
Originality/value
Most literature studies the factors or causes of construction delays that affect construction projects. The CODs primarily do not operate in silos but combine with other causes to enhance their influence on delays. Hence, it is of utmost importance to study the interactions of COD to enhance the knowledge in the construction field that would aid in schedule repair and, in turn, on-time project delivery. The study is the first related to COD and their interactions in construction projects in the digital era.
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Advanced big data analysis and machine learning methods are concurrently used to unleash the value of the data generated by government hotline and help devise intelligent…
Abstract
Purpose
Advanced big data analysis and machine learning methods are concurrently used to unleash the value of the data generated by government hotline and help devise intelligent applications including automated process management, standard construction and more accurate dispatched orders to build high-quality government service platforms as more widely data-driven methods are in the process.
Design/methodology/approach
In this study, based on the influence of the record specifications of texts related to work orders generated by the government hotline, machine learning tools are implemented and compared to optimize classify dispatching tasks by performing exploratory studies on the hotline work order text, including linguistics analysis of text feature processing, new word discovery, text clustering and text classification.
Findings
The complexity of the content of the work order is reduced by applying more standardized writing specifications based on combining text grammar numerical features. So, order dispatch success prediction accuracy rate reaches 89.6 per cent after running the LSTM model.
Originality/value
The proposed method can help improve the current dispatching processes run by the government hotline, better guide staff to standardize the writing format of work orders, improve the accuracy of order dispatching and provide innovative support to the current mechanism.
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Ghassan Almasabha, Ali Shehadeh, Odey Alshboul and Omar Al Hattamleh
Buried pipelines under various soil embankment heights are cost-effective alternatives to transporting liquid products. This paper aims to assist pipeline architects and…
Abstract
Purpose
Buried pipelines under various soil embankment heights are cost-effective alternatives to transporting liquid products. This paper aims to assist pipeline architects and professionals in selecting the most cost-effective buried reinforced concrete pipelines under deep embankment soil with minor structural reinforcement while meeting shear stress requirements, safety and reliability constraints.
Design/methodology/approach
It is unfeasible to experimentally assess pipeline efficiency with high soil fill depth. Thus, to fill this gap, this research uses a dependable finite element analysis (FEA) to conduct a parametric study and carry out such an issue. This research considered reinforced concrete pipes with diameters of 25, 50, 75, 100, 125 and 150 cm at depths of 5, 10, 15 and 20 m.
Findings
According to this research, the proposed best pipeline diameter-to-thickness (D/T) proportions for soil embankment heights 5, 10, 15 and 20 m are 8.75, 4.8, 3.5 and 3.1, correspondingly. The cost-effective reinforced concrete (RC) pipeline thickness dramatically rises if the soil embankment reaches 20 m, indicating that the soil embankment depth highly influences it. Most of the analyzed reinforced concrete pipelines had a maximum deflection value of less than 1 cm, telling that the FEA accurately identified the pipeline width, needed flexural steel reinforcement, and concrete crack width while avoiding significant distortion.
Originality/value
The cost-effective thickness for the analyzed structured concrete pipes was calculated by considering the lowest required value of steel reinforcement. An algorithm was developed based on the parametric scientific findings to predict the ideal pipeline D/T ratio. A construction case study was also shown to assist architects and professionals in determining the best reinforced concrete pipeline geometry for a specific soil embankment height.
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Mamekwa Katlego Kekana, Marius Pretorius and Nicole Varela Aguiar De Abreu
Business rescue, as a mechanism to aid financially distressed companies in South Africa, has received considerable academic and practical recognition. However, the business rescue…
Abstract
Purpose
Business rescue, as a mechanism to aid financially distressed companies in South Africa, has received considerable academic and practical recognition. However, the business rescue plan is an overlooked and, perhaps, underdeveloped aspect of the regime. For stakeholders, this is the ultimate decision-making document. Creditors are the most influential stakeholders in business rescue proceedings owing to their voting rights. For creditors to make informed decisions and exercise their votes meaningfully, the business rescue plan should be transparent and adequately disclose relevant and reliable information. This study aims to identify creditors’ primary information needs to enhance the sufficiency and decision-usefulness of business rescue plans, not only to entice the vote of creditors but to enforce accountability from practitioners.
Design/methodology/approach
Using a qualitative research design, semi-structured interviews were conducted with 14 executives from 10 South African financial institutions.
Findings
The findings reveal that comprehensive disclosure of financial, commercial and legal information in business rescue plans was a critical antecedent for stakeholder decision-making. Additionally, leadership and social impact information were influential determinants. This study advances academic knowledge and, for practitioners, adds value to the development of business rescue plans. This can enhance creditors' confidence in supporting the rescue effort and approving the plan.
Practical implications
This study advances academic knowledge and, for practitioners, adds value to the development of business rescue plans. This can enhance creditors' confidence in supporting the rescue effort and approving the plan.
Originality/value
The originality of this article lies in its investigation of how creditors assess the information in BR plans as a precursor to supporting the company’s reorganisation in a creditor-friendly business rescue system such as South Africa. This study provides novel insights into the decision-making process, particularly how creditors assess BR plans, address information asymmetry and vote on the plan.
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This paper aims to unravel the puzzle that the United Kingdom’s high-quality government accounting and fiscal architecture is associated with low-quality outcomes, including poor…
Abstract
Purpose
This paper aims to unravel the puzzle that the United Kingdom’s high-quality government accounting and fiscal architecture is associated with low-quality outcomes, including poor productivity growth, high public debt, public services which do not meet citizen expectations and historically high levels of taxation. It contributes to public sector accounting research in the fields of fiscal transparency and governance.
Design/methodology/approach
This paper uses Miller and Power’s (2013) economization framework and Dunsire’s (1990) concept of collibration to explain why being a global leader in public sector accounting reform and in fiscal and monetary architecture has not protected the UK from weak governance. The intersection of economization’s roles of accounting with modes of government accounting clarifies the puzzle.
Findings
Whereas accruals government accounting contributes to fiscal transparency, this is not a sufficient condition for well-judged policy and its effective application. Collibration is the dominant mechanism for mediation in the fiscally centralized UK, but it has failed to deliver stable outcomes, in part because Parliament is limited in its ability to hold back inappropriate behaviour by the Executive. Subjectivization has disrupted adjudication because governments at all levels resist constraints on their behaviour, with unpredictable and often damaging consequences.
Originality/value
This paper provides insights through the combined lens of economization and modes of government accounting, demonstrating the practical value of this conceptualization. Although some causes for unsatisfactory outcomes are specific to the UK, there are cautions for accounting and fiscal reformers in other countries, such as Member States of the European Union.
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Abstract
Purpose
This paper aims to investigate the impact of environmental risk on corporate governance through market reaction to bank loan announcements.
Design/methodology/approach
Using the establishment of environment court in China as a quasi-natural experiment, this paper adopt the difference-in-differences approach based on listed firms during 2003–2013 to explore the impact of environment court on corporate governance.
Findings
This paper find that the environment court would weaken the cumulative abnormal return of loan announcements. Then, this paper confirm that the potential reason is that environment court worsens the interest conflict between majority and minority shareholders. Further, cross-sectional analysis suggests that bank’s supervision, market competition and analyst coverage can alleviate the impact of environment court on corporate governance.
Practical implications
Environment courts intensify firms’ internal interest disputes, thus causing the decrease of corporate governance, which can be observed through the effect of bank loan announcements.
Social implications
This paper provide reference for environmental policy formulation and implementation, firms’ decision-makings and improving the banking regulatory system.
Originality/value
This paper makes a contribution to the studies about the impact of environment court on firms’ decision-making and investors’ reaction, the impact of external factors on corporate governance and bank loan announcements effect.
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Răzvan Vasile and Adriana Grigorescu
The global economy has been subjected to systemic shocks that have disrupted the global energy transition strategy. A paradigm of shifting in address the issue of green energy in…
Abstract
The global economy has been subjected to systemic shocks that have disrupted the global energy transition strategy. A paradigm of shifting in address the issue of green energy in a multidimensional context is facing now. This work aims to highlight the experts’ opinions regarding energy management in the context of sustainable development approaches and the extent to which the strategic orientation toward green energy and the energy transition can be considered as economic, social, and environmental efficiency objectives. Based on the specialized literature found in the Web of Science (WoS) database, a qualitative analysis was performed to identify the development directions of the economic policies, emphasizing the specific aspects of the transition to green energy. The findings reveal that specialists, through scientific research carried out in the various fields of science, can offer solutions and identify risks in the development, but the essential role remains for decision-makers, responsible for maintaining the balance between expectations and possibilities in building policies that facilitate a sustainable energy transition, for the benefit of all.
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