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Journal Cover Australasian Journal of Construction Economics and Building
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  This is an Open Access Journal Open Access journal
   ISSN (Print) 1445-2634 - ISSN (Online) 1837-9133
   Published by U of Technology Sydney Homepage  [7 journals]
  • Organizational Resilience and Performance: An Analysis of the Relevance of
           Suppliers’ Trade Credit and Bank Diversification in the Spanish
           Construction Industry

    • Authors: Esteban Lafuente, Felipe Strassburger, Yancy Vaillant, Jordi Vilajosana
      Pages: 1 - 19
      Abstract: The objective of this study is to determine the effect of relevant variables related to strategic sources of financial resources—in our case, suppliers’ trade credit and use of financial institutions—over performance among Spanish construction firms. To test the proposed hypotheses, we employ panel-data techniques on a large dataset that includes information for 3590 Spanish small (1723), medium-sized (1616) and large (251) construction businesses during 2004-2011. The results of the longitudinal analysis reveal that trade credit granted by suppliers constitute a relevant source of liquidity and financial resources that positively impacts economic performance. During the period of economic downturn that affected Spain after 2008, those construction firms that benefited from longer average payment periods from their suppliers reported superior performance levels. Additionally, we find that bank diversification is conducive to performance but only during the crisis period: performance is significantly higher in businesses that work with a greater number of financial institutions.
      PubDate: 2017-12-07
      DOI: 10.5130/AJCEB.v17i4.5704
      Issue No: Vol. 17, No. 4 (2017)
       
  • Utilising Building Component Data from BIM for Formwork Planning

    • Authors: Manav Mahan Singh, Anil Sawhney, Vaishnavi Sharma
      Pages: 20 - 36
      Abstract: Advancements in the computing realm have assisted the Architecture, Engineering, and Construction (AEC) industry to progress significantly by automating several design tasks and activities. Building Information Modelling (BIM) authoring tools have played a significant role in automating design tasks and reducing the efforts required by the designer in redundant, repetitive or production-oriented activities. This paper explores one such approach that, with the help of BIM authoring tool and its Application Programming Interface (API), reduces the efforts expended on formwork design for concrete structures. The paper utilises the concept of using BIM data as input to compute the quantity of formwork, and generate visualisations and schedule of formwork. The developed approach first takes data input from semantic BIM to the API environment for computation and design of formwork systems, which is then placed within the BIM model, to generate visualisation and prepare schedules. The research work utilises a structural concrete wall as an example to demonstrate the presented approach. The approach will be influential in streamlining the formwork design process in the BIM environment and reducing efforts required by the designer and the planning engineer. Since the formwork elements are generated as 3-Dimensional (3D) solids and smart BIM elements, the generated model of formwork can be used for resolving clashes, scheduling, and resource planning.
      PubDate: 2017-12-07
      DOI: 10.5130/AJCEB.v17i4.5546
      Issue No: Vol. 17, No. 4 (2017)
       
  • Release of Construction Clients’ Pre-tender Cost Estimates: An
           Experimental Study

    • Authors: Bee Lan Oo
      Pages: 37 - 47
      Abstract: Clients engage consultant quantity surveyors or cost engineers to perform project cost estimates before calling for tender submissions. This experimental study examines the impact of releasing the clients’ pre-tender cost estimates prior to bidding on student subjects’ bidding behavioural patterns, and the extents to which their bidding tends to agree with the behavioural patterns proposed by Milgrom and Weber’s theory. The results show that the provision of clients’ pre-tender cost estimates prior to bidding does affect bidders’ bidding behaviour. Bidders with access to the clients’ pre-tender cost estimates prior to bidding, on average, recorded lower bids than those with no access to the estimate. However, the lower average bids do not result in statistically significant lower winning bids. These findings provide evidence in support of Milgrom and Weber’s theory, demonstrating the practicality of an experimental approach using student subjects for testing theories in building economics research. The practical implication is that construction clients would need to consider their information policy on releasing pre-tender cost estimates to enhance efficiency in their procurement for construction services.
      PubDate: 2017-12-07
      DOI: 10.5130/AJCEB.v17i4.5793
      Issue No: Vol. 17, No. 4 (2017)
       
  • Key Factors Affecting Construction Safety Performance in Developing
           Countries: Evidence from Cambodia

    • Authors: Serdar Durdyev, Sherif Mohamed, Meng Leang Lay, Syuhaida Ismail
      Pages: 48 - 65
      Abstract: Although proper safety management in construction is of utmost importance; anecdotal evidence suggests that safety is not adequately considered in many developing countries. This paper considers the key variables affecting construction safety performance in Cambodia. Using an empirical questionnaire survey targeting local construction professionals, respondents were invited to rate the level of importance of 30 variables identified from the seminal literature. The data set was subjected to factor analysis. Correlations between the variables show that five key factors underlie the challenges facing the local industry; management and organisation, resources, site management, cosmetic and workforce. It is found that the forefront construction professionals (top management and government authorities) should take more responsibilities for further improvements in safety performance on project sites. Findings and recommendations of this study may be useful to construction professional who are seeking ways to improve safety records in developing countries.
      PubDate: 2017-12-07
      DOI: 10.5130/AJCEB.v17i4.5596
      Issue No: Vol. 17, No. 4 (2017)
       
  • Development of OLI+S Entry Decision Model for Construction Firms in
           International Markets

    • Authors: Che Maznah Binti Mat Isa, Hamidah Binti Mohd Saman, Christopher Nigel Preece
      Pages: 66 - 91
      Abstract: The paper aims to provide a holistic approach to address how construction firms make decisions covering all three domains (location, timing and mode) across country, market, firm and project factors within the Ownership, Locational and Internalisation plus Specialty (OLI+S) paradigm. Questionnaires were administered to 62 project managers based on a sampling frame provided by the Construction Industry Development Board Malaysia. The findings provide empirical and theoretical insights on how the OLI+S model addresses firms’ entry decisions to penetrate international markets. It suggests that the ownership-entry decision factors focus on firms’ internal transferable advantages. The locational-entry decision factors emphasise attractiveness of certain locations where firms decided to invest and operate. The internalisation– entry decision factors emphasise the extent to which firms were able to manipulate their internal competitive assets (firm’s resources and capabilities). Finally, the specialty-entry decision factors emphasise on firms’ competency in project management and specialist expertise to handle complex projects based on their previous project experience. An example of construction firms’ unique characteristics, namely, specialty advantages based on the original Dunning’s OLI eclectic paradigm has been adopted. The established OLI+S entry decision model could be investigated to further refine other related internationalisation theory.
      PubDate: 2017-12-07
      DOI: 10.5130/AJCEB.v17i4.5573
      Issue No: Vol. 17, No. 4 (2017)
       
  • Exploring project managers’ perception of stress when working in
           increasingly complex construction projects

    • Authors: Jacqueline Mary Jepson, Konstantinos Kirytopoulos, Kerry London
      Pages: 47 - 67
      Abstract: Stress is a recognised feature of the project managers’ life. Projects are becoming more complex with the uncertainty in the system contributing to the lack of control and added stress. This study explores a microcosm of 25 project managers in the South Australian construction industry, their perceived level of uncertainty and stress. The project managers interviewed provide their views on what their key stressors were and the mechanisms they use to manage effectively their stress. The results showed that structural, technical and directional complexity of projects was high, but this did not always convert into more stress for the project managers. The results indicate that stressors like the lack of resources; lack of control and increasing accountability were project managers’ primary concerns. Coping strategies included optimism, applying emotional intelligence and active planning strategies. In addition, they reduced their stress by working with good teams, using theirs and their team's experience, implementing sound systems and processes and effectively researching and gathering information.
      PubDate: 2017-09-21
      DOI: 10.5130/AJCEB.v17i3.5567
      Issue No: Vol. 17, No. 3 (2017)
       
  • The log mean divisia index based carbon productivity in the Australian
           construction industry

    • Authors: Lingfeng Liang, Xiancun Hu, Linda Tivendale, Chunlu Liu
      Pages: 68 - 84
      Abstract: Environmental protection and economic growth are two indicators of sustainable global development. This study aims to investigate the performance of environmental protection and economic growth by measuring carbon productivity in the construction field. Carbon productivity is the amount of gross domestic product generated by the unit of carbon emissions. The log mean Divisia index method is used to investigate influential factors including carbon intensity, energy intensity and regional adjustment that impact on changes of carbon productivity. The study utilises a range of data from the Australian construction industry during 1995-2004 including energy consumption, industry value added and carbon dioxide equivalent consumption. The research indicates carbon productivity in the Australian construction industry has clearly increased. Energy intensity plays a significant positive role in promoting carbon productivity, whereas carbon intensity and regional adjustment have limited influence. Introducing advanced construction machinery and equipment is a feasible pathway to enhance carbon productivity. The research method is generic and can be used to measure other performance indicators and decomposing them into influential factors.
      PubDate: 2017-09-21
      DOI: 10.5130/AJCEB.v17i3.5544
      Issue No: Vol. 17, No. 3 (2017)
       
  • Comparative empirical analysis of temporal relationships between
           construction investment and economic growth in the United States

    • Authors: Navid Ahmadi, Mohsen Shahandashti
      Pages: 85 - 108
      Abstract: The majority of policymakers believe that investments in construction infrastructure would boost the economy of the United States (U.S.). They also assume that construction investment in infrastructure has similar impact on the economies of different U.S. states. In contrast, there have been studies showing the negative impact of construction activities on the economy. However, there has not been any research attempt to empirically test the temporal relationships between construction investment and economic growth in the U.S. states, to determine the longitudinal impact of construction investment on the economy of each state. The objective of this study is to investigate whether Construction Value Added (CVA) is the leading (or lagging) indicator of real Gross Domestic Product (real GDP) for every individual state of the U.S. using empirical time series tests. The results of Granger causality tests showed that CVA is a leading indicator of state real GDP in 18 states and the District of Columbia; real GDP is a leading indicator of CVA in 10 states and the District of Columbia. There is a bidirectional relationship between CVA and real GDP in 5 states and the District of Columbia. In 8 states and the District of Columbia, not only do CVA and real GDP have leading/lagging relationships, but they are also cointegrated. These results highlight the important role of the construction industry in these states. The results also show that leading (or lagging) lengths vary for different states. The results of the comparative empirical analysis reject the hypothesis that CVA is a leading indicator of real GDP in the states with the highest shares of construction in the real GDP. The findings of this research contribute to the state of knowledge by quantifying the temporal relationships between construction investment and economic growth in the U.S. states. It is expected that the results help policymakers better understand the impact of construction investment on the economic growth in various U.S. states.
      PubDate: 2017-09-21
      DOI: 10.5130/AJCEB.v17i3.5482
      Issue No: Vol. 17, No. 3 (2017)
       
  • Comparing univariate techniques for tender price index forecasting:
           Box-Jenkins and neural network model

    • Authors: Olalekan Oshodi, Obuks Augustine Ejohwomu, Ibukun Oluwadara Famakin, Paulo Cortez
      Pages: 109 - 123
      Abstract: The poor performance of projects is a recurring event in the construction sector. Information gleaned from literature shows that uncertainty in project cost is one of the significant causes of this problem. Reliable forecast of construction cost is useful in mitigating the adverse effect of its fluctuation, however the availability of data for the development of multivariate models for construction cost forecasting remains a challenge. The study seeks to investigate the reliability of using univariate models for tender price index forecasting. Box-Jenkins and neural network are the modelling techniques applied in this study. The results show that the neural network model outperforms the Box-Jenkins model, in terms of accuracy. In addition, the neural network model provides a reliable forecast of tender price index over a period of 12 quarters ahead. The limitations of using the univariate models are elaborated. The developed neural network model can be used by stakeholders as a tool for predicting the movements in tender price index. In addition, the univariate models developed in the present study are particularly useful in countries where limited data reduces the possibility of applying multivariate models.
      PubDate: 2017-09-21
      DOI: 10.5130/AJCEB.v17i3.5524
      Issue No: Vol. 17, No. 3 (2017)
       
  • Claims, Disputes and Litigation Involving BIM

    • Authors: Mohamad Kassem
      Pages: 124 - 126
      Abstract: Jason, D. 2015. Claims Disputes and Litigation Involving BIM. Devon, UK: Routledge. ISBN: 978-0-415-85894-6. 208 pages.
      PubDate: 2017-09-21
      DOI: 10.5130/AJCEB.v17i3.5746
      Issue No: Vol. 17, No. 3 (2017)
       
 
 
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