Search results
1 – 10 of over 53000Denis Scott, Ling Ma and Tim Broyd
Poor cash flow management and lack of profitability have plagued the construction industry for decades. In response, the UK Government published the project bank account (PBA…
Abstract
Purpose
Poor cash flow management and lack of profitability have plagued the construction industry for decades. In response, the UK Government published the project bank account (PBA) payment strategy in 2012 to mitigate main contractors unfairly withholding liabilities. However, PBAs suffer from adoption challenges, such as systems fragmentation and a lack of incentives for main contractors to adopt them effectively. This study aims to investigate how to reduce systems fragmentation in construction by integrating PBA procedures with existing management workflows to increase payment automation, resulting in improved cash liquidity and better incentives for using PBAs.
Design/methodology/approach
A PBA blockchain decentralised application is developed, presented and critically evaluated. Blockchain is the technology used because of its permissionless, license-free, open-source and immutability properties. It is a suitable general-purpose technology layer for building and testing applications without the limitations associated with centralised technologies, such as high proprietary fees, vendor lock and intellectual property restrictions.
Findings
The research demonstrates how a blockchain application can integrate siloed construction workflows such as cash flow scheduling, supply chain management and payment executions, reducing the management workload for implementing PBAs in construction projects. Furthermore, the proposed application is open-source and replicable, and its user interface is available for external testing here: https://console.atra.io/app/bf26f846-7f16-4f80-90a0-c5488ab6edd3.
Originality/value
PBA is a suitable test case because it enforces an auditable, transparent and neutral account, which are inbuilt properties of blockchains; thus, both systems are harmonious to integrate. PBA is mandated in UK public sector construction projects; therefore, the research has a solid practical foundation.
Details
Keywords
Rachel Griffiths, Wayne Lord and Jeremy Coggins
The purpose of this study is to identify building contractors’ views as to the need for, impact of and barriers to the use of project bank accounts (PBAs) in the UK construction…
Abstract
Purpose
The purpose of this study is to identify building contractors’ views as to the need for, impact of and barriers to the use of project bank accounts (PBAs) in the UK construction industry.
Design/methodology/approach
A cross-sectional research study was carried out by the use of questionnaires to collect quantitative data. The population for the research was of construction professionals working as full-time employees for either main (Tier 1) or specialist contractors (Tiers 2-4).
Findings
Contractors consider PBAs as an effective initiative to encourage fair payment. There is uncertainty, however, as to whether PBAs will result in project cost savings. Head contractor resistance is perceived to be the biggest barrier to the use of PBAs. Adoption of PBAs in private-sector construction projects is likely to be slow.
Research limitations/implications
The relative infancy of PBA usage in the construction industry means that responses are largely based on awareness as opposed to experience. Nevertheless, survey data represent a snapshot of contractors’ perceptions with respect to PBAs, which may be used as a benchmark against which to compare future studies to monitor how contractors’ views and expectations have changed with time.
Originality/value
The survey results will be of particular interest to those international jurisdictions who are considering, or who have already embarked on, the path of trialling and/or using PBAs in the public sector.
Details
Keywords
P.W. Senarath Yapa and Zhen Ping Hao
With the introduction of open door policy in 1978 and recent entrance to the World Trade Organisation (WTO), there seems to be a continuous growth of world business between China…
Abstract
Purpose
With the introduction of open door policy in 1978 and recent entrance to the World Trade Organisation (WTO), there seems to be a continuous growth of world business between China and the rest of the world. The purpose of this article is to make a comparison between Chinese professionalisation of accounting with other Western countries focusing on three professional themes: profession and the state, entry qualification to the profession and the relationship between higher education and the profession.
Design/methodology/approach
This study uses a qualitative method and it is based on using unstructured interviews with Chinese Institute of Certified Public Accountants (CICPA) (Beijing office), CPA Australia (Beijing Representative Office) and National Accounting Institute (NAI) (Beijing office) – all conducted in March 2005. Further information about the current accounting development in China is collected through secondary sources.
Findings
The results show that current accounting professionalisation project in China has been derailed mainly due to lack of coordination among accounting educational institutions. It seems that the CICPA purposely exert control over the supply of accountants by limiting the membership only to those who complete its own examinations mainly to maintain the “local status” of its members.
Originality/value
The professional accounting project should be closely linked with China's entrance to the WTO and the World Bank initiatives on accounting development. The results indicate that the accounting profession in China has so far been failed to take appropriate measures to align the professional accounting development with that of parallel professions as found in Western countries.
Details
Keywords
Mark Jeffery, Chuck Olson and Robin Barnes
Mergers and acquisitions (M&A) are often very complex management endeavors. Analyzes the IT component of M&A for two financial institutions. Students are tasked with assisting…
Abstract
Mergers and acquisitions (M&A) are often very complex management endeavors. Analyzes the IT component of M&A for two financial institutions. Students are tasked with assisting Mike Farrell, the CIO of New Millennium Financial (NMF), a new company created through the merger of FinStar Financial and D&L Bank, in determining the optimal combined IT portfolio. To accomplish this task the strategic business objectives of the firm must be clearly understood and the IT projects in the pipelines of both institutions analyzed. Students must make an IT portfolio management decision and answer the question: What is the optimal IT strategy and project portfolio for NMF?
To apply a framework to manage a company's IT portfolio, i.e., understand the company's strategic context, develop business objectives that align with its strategy, assess IT investments, and develop a portfolio of IT projects that support the objectives. The framework is iterative, i.e., IT investments are assessed on a regular basis based on their performance and risk/return tradeoffs. Also to introduce a leading Web-based tool, ProSight, that helps managers organize IT portfolios.
Details
Keywords
The purpose of this case study is to investigate the role of a governmental social audit (SA) practice in enabling emancipation, and changing patterns in the balance of power…
Abstract
Purpose
The purpose of this case study is to investigate the role of a governmental social audit (SA) practice in enabling emancipation, and changing patterns in the balance of power, position and understandings between dominant micro actors and disenfranchised rural citizens.
Design/methodology/approach
Enlisting Bourdieu's practice theory concepts of field, habitus, capitals and symbolic violence, the case study is informed by semi-structured interviews at central, state, district, block and village levels as well field observations and secondary data. This study is a part of a larger critical accounting research project conducted in India over four months, covering eight annual implementation cycles.
Findings
The study demonstrates that despite entrenched hegemonic micro forces and public sector corruption, SA's accounting and accountability practices have altered the rules of the game in this field. This emancipatory perspective has redefined deep-seated, generational patterns of power relations and domination, impacting the distribution of capitals and habitus in the daily life of rural citizens.
Research limitations/implications
This study provides an alternative perspective to understanding governmental SA formats in developing nation contexts at the micro level. In line with Celerier and Botey's (2015) focus on inclusionary and democratic participation, this study challenges the dominant perspective of accounting as strengthening power asymmetries and focuses on its potential as an emancipatory agent.
Originality/value
The paper provides a site of effective implementation of a participative accountability practice in developing nation contexts that offer suggestions to states, countries and policy-makers. This paper also adds to critical accounting literature in the field of SA and social services at a micro level. Drawing upon Bourdieu in this underexplored field, it shines a light on relational elements of change through accounting and accountability practices for researchers and practitioners.
Details
Keywords
Lavagnon A. Ika, Amadou Diallo and Denis Thuillier
The purpose of this paper is to analyze the empirical relationship between project management (PM) efforts (the extent to which national project coordinators (NPCs) – the project…
Abstract
Purpose
The purpose of this paper is to analyze the empirical relationship between project management (PM) efforts (the extent to which national project coordinators (NPCs) – the project managers in the aid industry sector – make use of available PM tools), project success, and success criteria.
Design/methodology/approach
Data were collected by way of questionnaires delivered by mail to 600 recipients in 26 different countries in Africa.
Findings
The research results suggest that project success is insensitive to the level of project planning efforts but a significant correlation does exist between the use of monitoring and evaluation tools and project “profile,” a success criterion which is an early pointer of project long‐term impact.
Research limitations/implications
This paper contributes to PM research by exploring the relationship between the use of PM tools and project success in the non‐traditional PM – although project oriented – aid industry sector. The paper highlights self‐perceptions of NPCs and should not be interpreted in other ways.
Practical implications
This paper highlights the importance of PM tools in practice. Further, it suggests that NPCs (who are in fact only involved in project execution) put a lot of effort into monitoring and evaluation. In so doing, they strive to ensure project performance and accountability throughout project lifecycle, and this contributes to project “profile.”
Originality/value
This is the first study that offers insights into the relationship between PM efforts and project success in the aid industry sector. The paper calls for further research on PM practices in the aid industry sector where projects remain important instruments for aid delivery.
Details
Keywords
Stephanie Sheamar, Gayan Wedawatta, Maheshi Tennakoon, Roshani Palliyaguru and Maxwell Fordjour Antwi-Afari
Cost overrun is a significant issue in construction, an undesirable feature the industry has long been associated with. Poor procurement practices are often blamed for subsequent…
Abstract
Purpose
Cost overrun is a significant issue in construction, an undesirable feature the industry has long been associated with. Poor procurement practices are often blamed for subsequent cost overruns in construction, especially with conventional procurement methods leading to outrageous cost overruns. The purpose of this study is to review the features of the new models of construction procurement (NMCP) and assess their potential to reduce cost overruns in construction projects.
Design/methodology/approach
A literature review was conducted to identify the issues of procurement leading to cost escalations. Primary data were obtained through exploratory, semi-structured interviews using a case study approach.
Findings
Clients’ lack of knowledge was highlighted as a key issue in procurement that interlinks with many factors causing cost escalation. The findings suggest that the features contained within the NMCP, such as early contractor involvement and collaboration throughout the project team, have the potential to make a positive contribution to addressing cost escalation in construction.
Research limitations/implications
The primary research was undertaken as an exploratory study and presents the contractor's perspective. Further research is therefore suggested, with multiple organisations representing all key stakeholders in a construction project, including clients, consultants, sub-contractors and suppliers.
Practical implications
The study recommends awareness of the NMCP be raised throughout the industry, and simplified information must be made available to help widen uptake of these contemporary procurement methods.
Originality/value
Addressing the dearth of research concerning the use of NMCP within the industry, this study makes a niche contribution to the body of knowledge on construction cost management by illustrating the potential offered by these new procurement methods for addressing cost escalation. For an industry where collaboration is accepted with reservations, this case study demonstrates how novel collaborative strategies such as open book costing, project bank accounts and shared pain and gain mechanisms can be implemented as part of the procurement strategy and how such strategies can contribute towards minimising the cost escalation inherent in construction projects.
Details
Keywords
Basanta Kumar, Neelam Chawla and Brajaraj Mohanty
This paper aims to discuss the essential features, merits and drawbacks of the recently enacted Indian Real Estate Act, 2016, an economic reform measure pertaining to the real…
Abstract
Purpose
This paper aims to discuss the essential features, merits and drawbacks of the recently enacted Indian Real Estate Act, 2016, an economic reform measure pertaining to the real estate sector (RES). This paper analyses the impact of the Act and Union Budget 2016 on the inflow of foreign d irect investment (FDI) in India, and examines its ramifications on the world economy.
Design/methodology/approach
The study is based on secondary data sources, including consumer forum reports, investigative reports from national agencies, court decisions, government websites, real estate companies and industry associations. A sample survey on the implications of the Act has been conducted using Facebook and and through personal interaction with various stakeholders.
Findings
The Indian RES was unregulated prior to the passage of the Act, which has several provisions aimed at protecting the interest of consumers by tightening fraudulent practices of promoters/developers. Stakeholders are hopeful, but there is some apprehension. The government’s budgetary and fiscal support for infrastructure development has had an impact on the FDI inflow.
Practical implications
The Act is new, so there is not enough data to judge its real impact on the economy. However, it has started showing evidence of impact through a recent judgment by the Supreme Court of India punishing a promoter.
Originality/value
Regulating the Indian RES is a challenging task, but the new regulations are likely to provide confidence to foreign investors who may see India as a safety net for investment. This paper is timely and may help move things in this direction.
Details
Keywords
Katrina Michelle Simon-Agolory
By the end of the case and class discussion, students will be able to estimate project costs and benefits, both tangible and intangible, analyse enterprise environmental factors…
Abstract
Learning outcomes
By the end of the case and class discussion, students will be able to estimate project costs and benefits, both tangible and intangible, analyse enterprise environmental factors that may impact a project, identify the complexities of managing a multinational project and evaluate a project status and determine if continuation or cessation is the best option.
Case overview/synopsis
This case narrates the story to connect landlocked Botswana’s rich coalfields with the Namibian coast. In 2005, the Governments of Botswana and Namibia started discussions to bring forth a 1,500-km railway that traverses the two countries to the Port of Walvis Bay. In total, 10 years and many lengthy negotiations later, the Trans-Kalahari Railway (TKR) Project Management Office finally opened in Windhoek in April 2015. The project is expected to cost US$14.2bn and will be developed via a public-private partnership approach based on a DBOOT contractual arrangement, whereby a developer undertakes the financing, design, construction, operation and maintenance of the project. This case illustrates the complexities of managing a multinational project. After much slower than expected progress, the viability of the project is questioned.
Complexity academic level
This case is intended for post-graduate business students and MBA students who are studying in a management curriculum. It is primarily written for students in a project management course but may also be used for other courses, such as a negotiation class. The case can be used with undergraduate students by modifying the case questions.
Supplementary materials
Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
Subject code
CSS 7: Management science.
Details
Keywords