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Guaranteed maximum price (GMP) and target cost contracting (TCC) with a pain‐share/gain‐share arrangement have been adopted to integrate the construction delivery process and motivate service providers to seek continuous improvements in project outcomes. However, there is still a lack of research evidence to evaluate the levels of success and lessons learned from these innovative procurement strategies. Based on the analysis of a series of in‐depth interviews on the perceptions of various relevant experienced industrial practitioners, this paper aims to explore the key attributes of GMP/TCC including the underlying motives, perceived benefits, potential difficulties, critical success factors, key risk factors involved and optimal project conditions for adopting GMP/TCC. The research findings are useful in assisting key project stakeholders in minimising the detriments brought about by potential difficulties in and maximising the benefits derived from implementing GMP/TCC concepts. The study is also significant in contributing to new knowledge and practical information of GMP/TCC applications and implementation, in both a national and international context.

In today’s competitive industrial environment, it is essential that companies are able to focus on their core activities and collaborate with business partners to achieve the common objective of meeting the best satisfaction of customer demands. However, selecting partners based on accumulated experience may not be effective due to subjective judgement and lack of systematic analysis. This paper attempts to propose a partners benchmarking assessment system (PBAS) which incorporates computational intelligence technologies into partners’ benchmarking process to support decision making. Evidence suggests that the undesirables occur in companies such as extensive delays in the planned schedule, serious quality problems and cost overruns are, to a certain extent, related to the unfulfilled promises of business partners. In this paper, the PBAS is designed to propose an alternative approach to benchmark the business partners based on case‐based reasoning and neural network. To validate the proposed system, a prototype has been developed and tested in an emulated industrial environment. The case example is outlined with analysis of the feasibility of this proposed system based on test results.

The purpose of this paper is to identify the party most preferred to take the risks associated with the target cost contracts and guaranteed maximum price contracts (TCC/GMP) in the Hong Kong context.

An empirical questionnaire survey was conducted with the relevant industrial practitioners to solicit their preferences of risk allocation in TCC/GMP construction projects in Hong Kong.

The survey findings indicated that risks on tender documentation and project design are better borne by clients, while construction related risks are perceived to be taken by contractors. The research findings are consistent with other similar studies on risk allocation in construction projects in general.

This paper has developed a preferred risk allocation scheme for the delivery of future TCC/GMP projects, taking Hong Kong as an example. It can serve as a useful guide for decision makers to determine an optimal risk allocation at the planning stage of a TCC/GMP scheme.

The paper can benefit both academic researchers and industrial practitioners in generating an equitable risk sharing mechanism for TCC/GMP projects. It provides sufficient empirical evidence, added to the growing body of knowledge and lays a solid foundation for further research such as an international comparison of various risk allocation schemes associated with this kind of contractual arrangement.

This paper gives a bibliographical review of the finite element methods (FEMs) applied to the analysis of ceramics and glass materials. The bibliography at the end of the paper contains references to papers, conference proceedings and theses/dissertations on the subject that were published between 1977‐1998. The following topics are included: ceramics – material and mechanical properties in general, ceramic coatings and joining problems, ceramic composites, ferrites, piezoceramics, ceramic tools and machining, material processing simulations, fracture mechanics and damage, applications of ceramic/composites in engineering; glass – material and mechanical properties in general, glass fiber composites, material processing simulations, fracture mechanics and damage, and applications of glasses in engineering.

A model for an e‐business infrastructure that can be used to support supply chain activities in construction is proposed. A virtual network structure that acts as a value‐added component of an e‐business infrastructure is used to improve communication and coordination, and encourage the mutual sharing of inter‐organisational resources and competencies. The e‐business infrastructure used to support the proposed network structure and the human, organisational and cultural barriers that may be encountered are presented and discussed. It is proffered that the proposed e‐business model not only will be of benefit to those organisations which operate in the construction supply chain, but also may be fit for other types of business‐to‐business e‐commerce when cooperation between business partners is necessary to improve organisational performance and gain a competitive advantage

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

This study aims to examine the association between audit report lag (ARL), the length of time between the fiscal year end and the date the auditors’ report is signed, and client industry homogeneity, a measure of the similarity of operations of members of an industry.

Regression models are used to test the significance of industry homogeneity on the ARL, of specialists in homogenous industries on the ARL, and the completion of the audits of homogenous industry clients in the year of tightening Securities and Exchange Commission (SEC) filing deadlines.

The evidence suggests that auditors complete audits of clients more quickly in more homogenous industries. The association between ARL and homogeneity is negative, which indicates that auditors are more efficient in audits in homogenous industries. The association between ARL and specialist audits in homogenous industries is also negative. Finally, homogenous industry audits are better able to be completed by the compressed filing dates imposed by the SEC on accelerated and large accelerated filers in 2003 and 2006.

This study extends recent research on industry homogeneity’s influence on the audit market. By reporting an association between the homogeneity of a company’s industry and the ARL, investors and regulators have additional information to better evaluate the timing and monitor trends in the timing of the audit report dates.

Addresses the standardization of the measurements and the labels for concepts commonly used in the study of work organizations. As a reference handbook and research tool, seeks to improve measurement in the study of work organizations and to facilitate the teaching of introductory courses in this subject. Focuses solely on work organizations, that is, social systems in which members work for money. Defines measurement and distinguishes four levels: nominal, ordinal, interval and ratio. Selects specific measures on the basis of quality, diversity, simplicity and availability and evaluates each measure for its validity and reliability. Employs a set of 38 concepts ‐ ranging from “absenteeism” to “turnover” as the handbook’s frame of reference. Concludes by reviewing organizational measurement over the past 30 years and recommending future measurement reseach.

Examines the tenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.

Examines turnover functionality (high‐ and low‐performing quitters and stayers) in a business‐to‐business sales setting. Prior research indicates that antecedents of turnover frequency and turnover functionality are different. However, this may be an artifact of the way in which turnover has been measured. This study develops a new criterion of turnover functionality. Additionally, common antecedents of turnover frequency were examined to see if they could differentiate between high‐ and low‐performing quitters and stayers. The results indicate that several antecedents associated with turnover frequency are able to discriminate among different groups of high‐ and low‐performing quitters and stayers. Specifically, satisfaction with promotion, supervision, work, and global satisfaction contribute to our understanding of turnover functionality. Additionally, role conflict, role ambiguity, anxiety, evaluation of job alternatives, and intention to quit are also good discriminators of turnover functionality.