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This study aims at introducing a method based on the failure mode, effects and criticality analysis (FMECA) to aid in selecting the most suitable formwork system with the minimum overall cost.

The research includes a review of the literature around formwork selection and analysis of data collected from the building construction industry to understand material failure modes. An FMECA-based model that estimates the total cost of a formwork system is developed by conducting a two-phased semi-structured interview and regression and statistical analyses. The model comprises material, manpower and failure mode costs. A case study of fifteen buildings is analysed using data collected from construction projects in the UAE to validate the model.

Results obtained indicate an average accuracy of 89% in predicting the total formwork cost using the proposed method. Moreover, results show that the costs incurred by failure modes account for 11% of the total cost on average.

The analysis is limited to direct costs and costs associated with risks; other costs and risk factors are excluded. The proposed framework serves as a guide to construction project managers to enhance decision-making by addressing the indirect cost of failure modes.

The research proposes a novel formwork system selection method that improves upon the subjective conventional selection process by incorporating the risks and uncertainties associated with the failure modes of formwork systems into the decision-making process.

The paper aims to understand Finnish architects' attitudes towards the use of timber as a structural material in multi-storey (over two--storeys high) residential construction.

The study was conducted through a literature survey mainly including international peer-reviewed journals and similar research projects. Furthermore, the literature survey informed the generation of the web-based survey questionnaire design to gather information on architects' perceptions, attitudes and interest in the use of wood in multi-storey (over two-storeys high) residential buildings.

The paper's findings are as follows: (1) respondents perceived the most important advantages of wood as a lightweight, local and ecological material; (2) wood construction (compared to concrete) included perceived concerns about it being more costly and needing more complex engineering and (3) respondents had a favourable overall attitude towards the use of wood particularly in low-rise residential construction, whilst their perception of tall housing, including timber ones, was mostly negative.

No studies have evaluated the use of wood in tall residential buildings and architects' perceptions in Finland.

The delay in real estate projects in India is pervasive. Organization and management (O&M) and project management (PM)-related challenges are argued to contribute to project delays. This study examined the O&M and PM factors that cause delays, the level of implementation of various O&M and PM aspects in real estate projects and how the challenges can be alleviated.

Perception surveys among the consumers and relevant stakeholders engaged in real estate projects in the Bhubaneswar and Cuttack regions of India were conducted to collect data on the factors of delay and implementation of the O&M and PM aspects. Relevant statistical methods and structural equation modeling (SEM) were used for data analysis.

Findings suggest that from the O&M point of view, poor decision-making, mishandling of finance, concurrent execution of many projects, diversion and misuse of finance for unrelated activities, lack of PM personnel and poor management contribute to the delay. Further, although the project initiation is satisfactorily done, most of the PM principles are not largely used, thus leading to delay.

The study does have limitations, including its reliance on a perception survey of consumers and stakeholders, a limited sample size and a restricted number of projects. Nevertheless, the study highlights the need to address poor O&M and the insufficient application of PM principles to combat project delays in the Indian real estate sector.

Proper O&M and adequate application of PM will enable professional management of the projects and avoid delay.

Proper O&M and the application of adequate PM would reduce delays in real estate projects. Consequently, conflicts between the companies and consumers might be reduced and housing and infrastructure demands might be met.

The study manifested that the lack of adequate implementation of O&M and PM aspects leads to delays. So, it is theorized that O&M and PM play critical roles in the success of real estate projects. Appropriate implementation of the principles and best practices linked to these aspects might alleviate the challenges of delay in real estate projects in India.

The study assessed the stakeholders prioritization of key performance indicators (KPIs) on public and private tertiary educational projects in Osun State, Nigeria intending to enhance their performance.

The study used a total enumeration survey to purposively select built environment professionals working in the Physical Planning and Development Unit (PPDU) and procurement units of 17 tertiary educational institutions (7public and 10 private) in Osun State Nigeria for data collection. A quantitative research approach was adopted for the study using a questionnaire. A total of 102 questionnaires were retrieved from the respondents and used for analysis. Analysis of data was done using frequency, percentile, mean score (MS), Cronbach's Alpha coefficient, t-test, and Analysis of variance (ANOVA).

The study found that in the overall opinion of the respondents the most prioritized KPIs for tertiary educational projects are for the project to meet specifications (MS = 4.17), the project must be on time (MS = 4.01), and efficient use of resources (MS = 3.96). The important KPIs for the public tertiary educational projects is that the project should meet specifications (MS = 4.08), deliver the projects on time (MS = 3.96), and be under cost (MS = 3.84). While, the most prioritized KPIs for private tertiary educational projects are for the project to meet specifications (MS = 4.25), efficient use of resources (MS = 4.14), on time, and doing the right thing (effectiveness) (MS = 4.06) each. More findings indicated that there is no significant difference in the manner built environment professionals prioritized KPIs. However, there is only a 7% significant difference in the manner professionals working in the public and private tertiary educational institutions in Nigeria ranked KPIs.

There is a significant difference in the ways and manner built environment professionals working with the public and private tertiary educational institutions in Nigeria view resource utilization on their projects. As such, working environment either as public or private has a significant impact on resource utilization for tertiary educational construction projects.

The study compared opinions of professionals working with public and private tertiary educational institutions on KPIs to enhance project performance.

This study examines the impact of firm-specific and macroeconomic factors on the working capital behavior of firms listed in the Middle East and North African (MENA) region.

This study is based on a panel data analysis of 687 firms listed on 11 MENA markets, carried out using the Generalized Method of Moments (GMM) approach.

The results of this study reveal that profitable firms with high levels of operating cash flows adopt a conservative working capital management. Young firms with rapid growth rates, highly leveraged firms and firms with large investments in fixed assets have higher liquidity needs, which explains their tendency to pursue aggressive working capital strategies. Similarly, large firms exercise their bargaining power over their clients and suppliers to implement an aggressive approach of working capital management. Finally, firms do not have the luxury to decide how working capital should be managed when they are subject to outside macroeconomic forces that affect their stakeholders as well.

The findings of this study can help managers adopt efficient practices and identify optimal working capital levels. Firms in the MENA region maintain excess reserves of cash, which causes under-investment and inefficient allocation of resources in the economy. Improving working capital management practices can allow firms to regain operational efficiency, enhance financial performance and support economic growth.

To the best of the authors' knowledge, this study investigates this topic in MENA emerging markets and contributes to enriching the existing corporate finance literature in emerging markets.

Advocates of structured stakeholder management (SM) processes have emphasized the use of the appropriate strategies as the most important process in SM. Yet, research effort in this regard in developing countries has been inadequate. The purpose of the study was to examine the SM strategies used on building projects procured by private corporate organisations in south-western Nigeria to enhance project performance.

The study used a census survey to select 30 projects managers who indicated (from 106 who responded to a first stage questionnaire) that they have participated in structured SM in the study area between 2008 and 2017. A second-stage questionnaire was designed to elicit information from the respondents. Data analysis was done with the use of frequency, percentile and mean score (MS) and analysis of variance (ANOVA).

Stakeholders with high power and high interest were managed with the use of “collaborate/partner” strategy (MS = 3.86), stakeholders with high power and low interest were “kept satisfied” (MS = 4.09), stakeholders with low power and high interest were managed by using “keep them informed regularly” strategy (MS = 4.10) and stakeholders with low power and low interest were managed using “monitor and respond when necessary” strategy (M = 3.94). Further results show that static stakeholders with high power were managed by using the “monitor constantly” strategy (MS = 4.11), stakeholders with high power, high legitimacy and high urgency were managed by adopting the “keep satisfied” strategy (MS = 4.26), to manage non-supportive stakeholders, project managers adopted the “keep satisfied” strategy (MS = 4.18) and supportive stakeholders were managed by using “involved” strategy (MS = 4.02). More results showed that there is no significant difference in the opinion of project managers on SM strategies employed irrespective of procurement method.

The study provided a guide to project managers on the appropriate SM strategies to use for future projects.

The study was an attempt to appraise the SM strategies in relation to the procurement methods and their relationship with project performance.

Nowadays, engineering, procurement and construction (EPC) contracts are being widely used to perform industrial and infrastructure projects because of several reasons like high speed of implementation. However, these contracts are always accompanied by high risks and uncertainties. Thus, selection of the right EPC contractor has significant importance. This paper aims to present a fuzzy multi-criteria decision-making (MCDM) model for EPC contractor prequalification.

First, the EPC contractor prequalification criteria are defined by using literature review and interviewing experts. Second, the weights of criteria are determined by interviewing experts. Then, each EPC contractor is evaluated in each criterion. Finally, fuzzy weighted average (FWA) approach is employed to select the right contractor among potential EPC contractors.

The proposed model is prepared as an applicable model for clients to select the right EPC contractors among contractors who want to conduct the project.

As a lack of applicable model does exist to assign the prequalification of EPC contractors, this study is one of the first research studies which proposed a fuzzy MCDM model for evaluation of EPC contractors. To cope with the uncertainty of the prequalification problem, fuzzy logic has been used. Using fuzzy sets leads to reaching more reliable results. Also, a real case study is provided to explain the proposed model.

The objective of this paper is to investigate the effect of working capital efficiency (WCE) and its components on the composite financial performance of a sample of Indian firms.

Our sample includes 796 non-financial listed firms from 2015–16 to 2021–22. Sample firms’ profitability, liquidity, solvency, cash flow management, and financial and operational leverage have been used to classify them into companies with high composite financial performance (HCFP) and with low composite financial performance (LCFP) by using K-Means Clustering technique. A composite financial performance score (CFPS) of 1 has been assigned to HCFP and 0 to LCFP. We have used logistic regression models with fixed effect to estimate the effect of cash conversion cycle (CCC) and its components, i.e. inventory days, accounts receivable days and accounts payable days on CFPS in the presence of control variables such as growth, leverage, firm size, and age.

The study finds that CCC and inventory days are inversely associated with CFPS. This finding shows that the firms’ WCE leads to superior financial performance on a composite basis.

The research findings are based on samples drawn from the population of the listed Indian non-financial companies. Since the operation, financial practices, working capital policies, and management styles of firms vary greatly among nations, the results of this study should be extended to firms in other countries after taking into account the degree of resemblance to the sample firms.

The findings of this study hold significant value for industry practitioners, as they provide guidance in determining the optimal allocation of funds for working capital and devising strategies for effectively managing inventory levels, credit sales, and vendor payments in order to increase the overall value of the company. This study aims to help investors in building their investment portfolios by identifying companies with superior composite financial performance. Investors can enhance the construction of their investment portfolios by strategically selecting companies that demonstrate superior overall performance.

The results of our study will help companies improve their WCM strategies to enhance their overall value, and their significance increases manifold during economic downturns. Business firms that perform well by efficiently managing their working capital have a multiplier effect on the economy and society at large in the form of GDP contribution, labor income, taxes to the government, investment in capital assets, and payments to suppliers.

To understand the impact of WCE on firms’ performance, the extant working capital literature focuses on some specific characteristics such as profitability, valuation, solvency, and liquidity. The limitation of employing a single parameter is its inability to present the comprehensive performance evaluation of firms. This study is among the earliest studies that focus on the holistic evaluation of WCE's impact on the composite performance of a company.

The South African construction industry appears to be lagging behind other industries in the country in terms of implementation and adoption of innovative technologies. Moreover, sufficient empirical data on the adoption of innovative technologies, especially, in developing countries are not readily available. The aim of this study is therefore to assess the adoption and implementation of innovative technologies in the South African construction industry with a view to improving the industry's performance.

A survey was undertaken using a questionnaire, administered to construction professionals primarily in project management, quantity surveying and architectural firms.

The key findings show that there are some innovative technologies such as building information modelling, 3-dimensional mapping, drones, 3-dimensional printing and virtual reality that have been deployed. However, limited adoption of innovative technologies within the industry and low levels of knowledge of its benefits among the respondents were reported. This low implementation of innovative technologies was due to critical barriers such as high cost, limited knowledge, time requirement, fear of change, lack of interest, nature of construction processes and lack of team dynamics. Key drivers of innovation were found to include globalization and competition.

The current level of implementation of innovative technologies indicated that they are not yet optimized in the South African construction industry and suggests implications for change, adaptation and growth. The study recommends that firms should consider investing in research and development in order to exploit the potential of innovation for organizations and the industry at large.

The drivers and barriers indicated will help to prioritize the direction of adoption and growth which could help to improve the industry.

The purpose of this paper is to use Delphi technique to assess the applicability of coupling various project delivery methods (PDMs) and contract strategies (CSs) for delivery of public building projects (PBP) in Ethiopia.

To achieve the objective of this research, an online Delphi study was designed, conducted and analyzed using various statistical procedures. Results were compared to CII’s project delivery and CS (PDCS) tool, a US-based PDM selection tool.

This study converged in the third round signifying a consensus on the importance of design–build and construction manager at risk as alternatives to design–bid–build. In addition, “controlling schedule growth” was deemed to be a major performance measure that needs to be considered for PBP in Ethiopia, a result consistent with the outcomes from CII’s PDCS tool.

Among existing studies, none to the best of the authors’ knowledge has focused on a holistic approach to identify the most appropriate pairings of PDMs and CSs for PBP which was critically needed due to the magnitude and high stakes of these projects. This research is a steppingstone toward gaining knowledge on how to approach these types of projects in fast-growing environments thirsty for new building projects such as in Ethiopia.