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1 – 10 of 66M.N.N. Rodrigo, Srinath Perera, Sepani Senaratne and Xiaohua Jin
Blockchain as an emerging technology has increased the interests within various industries because of its salient features. A potential application of blockchain for embodied…
Abstract
Purpose
Blockchain as an emerging technology has increased the interests within various industries because of its salient features. A potential application of blockchain for embodied carbon (EC) estimating is being explored. Though there are several databases/tools to estimate EC, the accuracy of estimates prepared using them is affected due to several limitations. As a solution, a prototype blockchain-based EC (BEC) Estimator for distributed supply chain-based EC estimating has been introduced. The data models and user flow diagram that lead to development of a BEC Estimator are developed and evaluated in this study.
Design/methodology/approach
A case study approach assisted in developing the data models and user flow diagram for the BEC Estimator. A Delphi-based expert forum was used to evaluate and produce the refined data models and user flow diagram.
Findings
The BEC Estimator adopts a waterfall model, a system development lifecycle model, in developing the application. The phases, system analysis and system design, consisting the development of the data models and user flow diagram for the BEC Estimator are discussed.
Originality/value
Estimating EC accurately plays an important role in construction. The BEC Estimator uses the supply chain based embodied carbon estimating method to estimate EC accurately. This paper demonstrates the data models and user flow diagram developed for the BEC Estimator.
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Augustine Senanu Komla Kukah, Jin Xiaohua, Robert Osei-Kyei and Srinath Perera
This study aims to undertake a review of how carbon trading contributes to a reduction in emission of greenhouse gases (CHGs).
Abstract
Purpose
This study aims to undertake a review of how carbon trading contributes to a reduction in emission of greenhouse gases (CHGs).
Design/methodology/approach
A narrative literature review approach was adopted to identify and synthesise existing literature using the Scopus and Web of Science databases. Articles were limited to the past 10 years to obtain the most current literature. The various ways in which carbon trading leads to reductions in emissions were identified and discussed.
Findings
The results showed that the main ways in which carbon trading contributes to reductions in emissions are through innovation in low-carbon technologies, restoration of ecosystems through offset money, development of renewable and clean energy and providing information on investment related to emissions.
Practical implications
The value of this study is to contribute to the built environment’s climate change mitigation agenda by identifying the role of carbon trading.
Originality/value
The output of this research identifies and contextualises the role carbon trading plays in the reduction of CHG emissions.
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Pouya Amies, Xiaohua Jin and Sepani Senaratne
Dam industry projects have significant economic, social and environmental impacts. However, very little has been carried out to improve their lifecycle performance. The purpose of…
Abstract
Purpose
Dam industry projects have significant economic, social and environmental impacts. However, very little has been carried out to improve their lifecycle performance. The purpose of this study is to identify success criteria applicable to different stages of such projects.
Design/methodology/approach
This study adopted a quantitative research design where the potential success criteria for dam engineering projects were evaluated. The applicable success criteria were determined for the four phases of project lifecycle by three rounds of Delphi technique with the participation of experts from dams industry in Australia.
Findings
The findings of this research suggest that project success is a multidimensional notion and varies over lifecycle of projects. This study on project success criteria shows that certain criteria can be applied to measure success in different phases over lifecycle of Australian dam industry projects.
Originality/value
The results of this research present the first exclusive quantitative assessment of success criteria for dams industry. The success criteria presented in this study enable project practitioners to measure success at various stages of dam industry projects. This can serve as a tool to put more management efforts into achieving success on those criteria.
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Le Ma, Richard Reed and Xiaohua Jin
Due to the complicated nature of houses, the driving factors of the residential construction output can be investigated from different perspectives of interests. However, little…
Abstract
Purpose
Due to the complicated nature of houses, the driving factors of the residential construction output can be investigated from different perspectives of interests. However, little research has provided an insight of the trend of the residential construction output from a cross-disciplinary perspective. The purpose of this paper is to identify the long-run equilibrium types of residential construction output, including external equilibrium, solo-market equilibrium and dual-market equilibrium.
Design/methodology/approach
A vector error correction model is applied into longitudinal data in the eight Australian states and territories to overview the regional variations of the residential construction output.
Findings
The empirical results show that the equilibrium of regional residential construction outputs in New South Wales and Victoria are determined by the external factors; the equilibrium in Western Australia is dominated by the construction market; and the equilibriums in the other five states and territories are influenced by both construction and house markets.
Research limitations/implications
The simplified approach may overlook the detailed explanation of the external factors, such as regional population, economy, policy and so forth. Given this limitation, future studies can introduce the correspondingly variables as per research interests.
Originality/value
Implementing the existing research into residential construction output and house supply, this research provides a simplified approach that demonstrates the linkage between construction and real estate sectors to identify the long-run equilibriums across regions. The underlying research sheds light in delivering inter-disciplinary research into the residential construction output.
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Bashir Tijani, Xiaohua Jin and Robert Osei-kyei
Stressors emanated from construction projects are causative factors for occupational stress inherent in the construction industry. Concomitant implications of stressors ignite a…
Abstract
Purpose
Stressors emanated from construction projects are causative factors for occupational stress inherent in the construction industry. Concomitant implications of stressors ignite a burst of empirical evidence, which necessitates a systematic review to capture the state of art of the extant literature. Therefore, this paper addresses this significant gap by conducting a systematic review of mental stressors.
Design/methodology/approach
A three-stage screening and data extraction method were employed to retrieve 38 papers that met the inclusion criteria for the study.
Findings
The annual publication trends and contributions of selected journals were elucidated. Moreover, this review identified 49 stressors from 38 selected peer-reviewed journals between 1997 and 2020. The most frequently reported mental stressors include work overload, home-work conflict, poor working environment, role ambiguity and poor working relationships. The 49 stressors could be classified into five main categories, namely; organizational stressors, task stressors, personal stressors, physical stressors and gender-related stressors.
Originality/value
The findings of the study broaden the understanding of the practitioners and policymakers on the dynamics of stressors for the development of stress interventions. Future research should focus on exploration of mental stressors specific to construction projects and different occupational trades.
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Various factors may influence project finance when a multi-sourced debt financing strategy is used for financing capital investments, in general, and public infrastructure…
Abstract
Purpose
Various factors may influence project finance when a multi-sourced debt financing strategy is used for financing capital investments, in general, and public infrastructure investments, in particular. Traditional indicators lack comprehensive consideration of the influences of many internal and external factors, such as investment structure, financing mode and credit guarantee structure, which exist in the financing decision making of BOT projects. An effective approach is, thus, desired. The paper aims to discuss these issues.
Design/methodology/approach
This paper develops a financial model that uses an interval number to represent the uncertain factors and, subsequently, conducts a standardization of the interval number. Decision makers determine the weight of each objective through the analytic hierarchy process. Through the optimization procedure, project investors and sponsors are provided with a strategy regarding the optimal amount of debt to be raised and the insight on the risk level based on the net present value, as well as the probability of bankruptcy for each different period of debt service.
Findings
By using an example infrastructure project in China and based on the comprehensive evaluation, comparison and ranking of the capital structures of urban public infrastructure projects using the interval number method, the final ranking can help investors to choose the optimal capital structure for investment. The calculation using the interval number method shows that X2 is the optimal capital structure plan for the BOT project of the first stage of Tianjin Binhai Rail Transit Z4 line. Therefore, investors should give priority to selecting a capital contribution ratio of 45 per cent for this investment.
Research limitations/implications
In this paper, some parameters, such as depreciation life, construction period and concession period, are assumed to be deterministic parameters, although the interval number model has been introduced to analyze the uncertainty indicators, such as total investment and passenger flow, of BOT rail transport projects. Therefore, more of the above deterministic parameters can be taken as uncertainty parameters in future research so that calculation results fit actual projects more closely.
Originality/value
This model can be used to make the optimal investment decision for a project by determining the impact of uncertainty factors on the profitability of the project in its lifecycle during the project financial feasibility analysis. Project sponsors can determine the optimal capital structure of a project through an analysis of the irregular fluctuation of the unpredictable factors in project construction such as construction investment, operating cost and passenger flow. The model can also be used to examine the effects of different capital investment ratios on indicators so that appropriate measures can be taken to reduce risks and maximize profit.
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Zhenshuang Wang, Yanxin Zhou, Xiaohua Jin, Ning Zhao and Jianshu Sun
Public-private partnership (PPP) projects for construction waste recycling have become the main approach to construction waste treatment in China. Risk sharing and income…
Abstract
Purpose
Public-private partnership (PPP) projects for construction waste recycling have become the main approach to construction waste treatment in China. Risk sharing and income distribution of PPP projects play a vital role in achieving project success. This paper is aimed at building a practical and effective risk sharing and income distribution model to achieve win–win situation among different stakeholders, thereby providing a systematic framework for governments to promote construction waste recycling.
Design/methodology/approach
Stakeholders of construction waste recycling PPP projects were reclassified according to the stakeholder theory. Best-worst multi–criteria decision-making method and comprehensive fuzzy evaluation method (BWM–FCE) risk assessment model was constructed to optimize the risk assessment of core stakeholders in construction waste recycling PPP projects. Based on the proposed risk evaluation model for construction waste recycling PPP projects, the Shapley value income distribution model was modified in combination with capital investment, contribution and project participation to obtain a more equitable and reasonable income distribution system.
Findings
The income distribution model showed that PPP Project Companies gained more transaction benefits, which proved that PPP Project Companies played an important role in the actual operation of PPP projects. The policy change risk, investment and financing risk and income risk were the most important risks and key factors for project success. Therefore, it is of great significance to strengthen the management of PPP Project Companies, and in the process of PPP implementation, the government should focus on preventing the risk of policy changes, investment and financing risks and income risks.
Practical implications
The findings from this study have advanced the application methods of risk sharing and income distribution for PPP projects and further improved PPP project-related theories. It helps to promote and rationalize fairness in construction waste recycling PPP projects and to achieve mutual benefits and win–win situation in risk sharing. It has also provided a reference for resource management of construction waste and laid a solid foundation for long-term development of construction waste resources.
Originality/value
PPP mode is an effective tool for construction waste recycling. How to allocate risks and distribute benefits has become the most important issue of waste recycling PPP projects, and also the key to project success. The originality of this study resides in its provision of a holistic approach of risk allocation and benefit distribution on construction waste PPP projects in China as a developing country. Accordingly, this study adds its value by promoting resource development of construction waste, extending an innovative risk allocation and benefit distribution method in PPP projects, and providing a valuable reference for policymakers and private investors who are planning to invest in PPP projects in China.
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Isaac Akomea-Frimpong, Xiaohua Jin and Robert Osei-Kyei
Among the topmost challenges, limiting the transformation of conventional public–private partnership (PPP) projects to meet net-zero targets is financial risk. This challenge is…
Abstract
Purpose
Among the topmost challenges, limiting the transformation of conventional public–private partnership (PPP) projects to meet net-zero targets is financial risk. This challenge is more prevalent in PPP projects in developing economies like Ghana, where financial investments have dwindled due to the recent COVID-19 recession. This paper aims to assess the key financial challenges in transitioning to net-zero PPP projects in Ghana.
Design/methodology/approach
The research method process was set as follows. First, a review of the literature to identify the major financial risks from journal articles, project reports and documents was undertaken, followed by questionnaire development and collection of data. Finally, the analysis of 134 questionnaire data was examined with the fuzzy synthetic evaluation.
Findings
The results indicate that the following financial challenges could hinder the transition to net-zero PPP projects in the country: increasing borrowing charges to build net-zero PPP projects due to the global covid-economic recession, poor project financial management, unstable local capital market and excessive labour, health and safety costs.
Research limitations/implications
Although, the study was conducted in Ghana, a country in the Sub-Saharan African region, the outcomes have significant impacts for similar developing countries in research investigations into the problem.
Practical implications
Assistance is provided in this study for PPP project practitioners in identifying the key financial challenges and possible strategies to mitigate them.
Originality/value
Towards net-zero sustainability, this study highlights the crucial financial barriers to overcome in the rapid transition to climate change and zero carbon solutions in PPP projects.
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Augustine Senanu Komla Kukah, Xiaohua Jin, Robert Osei-Kyei and Srinath Perera
This conceptual paper aims to develop a theoretical framework for carbon trading in the built environment through theories to expand current knowledge on components of carbon…
Abstract
Purpose
This conceptual paper aims to develop a theoretical framework for carbon trading in the built environment through theories to expand current knowledge on components of carbon trading systems.
Design/methodology/approach
This theoretical framework was developed and supported with existing theories and past empirical literature from built environment, economics and finance. Underlying theories used in the framework were selected due to their significance and applicability to carbon trading projects. Hypotheses set in the study summarise the propositions developed from the theories and past empirical literature.
Findings
The framework reveals four major components of carbon trading for the built environment. Six hypotheses were further proposed to unravel the resultant influence of their interactions on each component in the trading system.
Research limitations/implications
This paper sought to undertake a theoretical review of classical theories and past studies on carbon trading. Even though a systematic review was undertaken, the constructs in the theoretical framework may not be exhaustive.
Practical implications
This study contributes and advances the body of knowledge on the components that comprise the mechanism of how carbon trading operates in the built environment. Theoretically, the framework developed serves as a multi-dimensional guide on the operations of carbon trading in the built environment.
Originality/value
The theoretical framework developed endeavours to consolidate multi-faceted theories from varying disciplines on the components that comprise carbon trading in the built environment.
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Isaac Akomea-Frimpong, Xiaohua Jin, Robert Osei-Kyei and Fatemeh Pariafsai
Public–private partnership (PPP), a project financing arrangement between private investors and the public sector, has revolutionized the approach to the funding and development…
Abstract
Purpose
Public–private partnership (PPP), a project financing arrangement between private investors and the public sector, has revolutionized the approach to the funding and development of public infrastructure worldwide. However, the increasing cases of financial risks and poor financial risk management related to the model threaten the sustainability and financial success of PPP projects leading to huge financial investment losses. This study aims to review existing literature to establish the key measures to control the financial risks of sustainable PPP projects.
Design/methodology/approach
A PRISMA-compliant systematic literature review method was used in this study. Data were sourced from academic databases consisting of 56 impactful peer-reviewed journal articles.
Findings
The review outcomes demonstrate 41 critical factors (measures) in mitigating the financial risks of sustainable PPP projects. They include minimum revenue guarantee, strategic alliance with private investors, financial transparency and accountability and sound macroeconomic policies. The principal results of the study were categorized and conceptualized into a financial risk management maturity model for sustainable PPP projects. Lastly, the study reveals that further studies and project policies must focus more on addressing financial challenges relating to climate risks, and health and safety concerns such as COVID-19 outbreak that have negative impacts on PPP projects.
Research limitations/implications
The results provide essential research gaps and directions for future studies on measures to mitigate the financial risks of sustainable PPP projects. However, this study used small but significant existing publications.
Practical implications
A checklist and a conceptual maturity model are provided in this study to help practitioners to learn and improve upon their practices to mitigate the financial risks of sustainable PPP projects.
Originality/value
This study contributes to managerial measures to reduce huge losses in financial investments of PPP projects and the attainment of sustainability in public infrastructure projects with a financial risk maturity model.
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