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Anderson, S D, Patil, S S, Gibson, G E and Sullivan, G R (2004) Owner–Contractor Work Structures: Process Approach. Journal of Construction Engineering and Management, 130(05), 680–90.

Chinowsky, P S and Diekmann, J E (2004) Construction Engineering Management Educators: History and Deteriorating Community. Journal of Construction Engineering and Management, 130(05), 751–8.

Hanna, A S and Gunduz, M (2004) Impact of Change Orders on Small Labor-Intensive Projects. Journal of Construction Engineering and Management, 130(05), 726–33.

Hassanein, A and Moselhi, O (2004) Planning and Scheduling Highway Construction. Journal of Construction Engineering and Management, 130(05), 638–46.

Jung, Y and Woo, S (2004) Flexible Work Breakdown Structure for Integrated Cost and Schedule Control. Journal of Construction Engineering and Management, 130(05), 616–25.

Li, K Y K and Chan, A T (2004) Management of Radon in Tunnel Drilling. Journal of Construction Engineering and Management, 130(05), 699–707.

Mattila, K G and Bowman, M R (2004) Accuracy of Highway Contractor’s Schedules. Journal of Construction Engineering and Management, 130(05), 647–55.

Park, M and Peña-Mora, F (2004) Reliability Buffering for Construction Projects. Journal of Construction Engineering and Management, 130(05), 626–37.

Scott, S and Harris, R A (2004) United Kingdom Construction Claims: Views of Professionals. Journal of Construction Engineering and Management, 130(05), 734–41.

Senghore, O, Hastak, M, Abdelhamid, T S, AbuHammad, A and Syal, M G (2004) Production Process for Manufactured Housing. Journal of Construction Engineering and Management, 130(05), 708–18.

Touran, A, Atgun, M and Bhurisith, I (2004) Analysis of the United States Department of Transportation Prompt Pay Provisions. Journal of Construction Engineering and Management, 130(05), 719–25.

  • Type: Journal Article
  • Keywords: Payment; Financial factors; Contractors; Profits; Construction industry; construction industry; profitability; financial management;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2004)130:5(719)
  • Abstract:
    In recent past the United States Department of Transportation has implemented a number of changes in regulations regarding federal-aid transportation projects. Some of these regulations are designed to help the disadvantaged business enterprise (DBE) firms and subcontractors in general, by requiring the general contractors to pay their subcontractors in a timely manner. Further, these regulations require that general contractors pay their subcontractors’ retainage after the subcontracts are completed, even if they have not received their own retainage from the owner. This paper reviews these new regulations and introduces a financial model for quantifying the effect of these new regulations on the contractors’ profit and the cost of transportation projects. The analysis is done using a spreadsheet-based cash flow model that takes into consideration the expenditure curve, the owner and general contractor’s payment and retainage policies, front money, finance charge on negative cash flow, and interest income on positive cash flow, and final payment and return of retainage policies. A survey was conducted among contractors in Massachusetts and their input was used to run the cash flow model. The results of the analysis for eight different projects are presented and it is shown that the new regulations, on average, reduced the contractor’s profit by 4.35%. It is also shown that the average potential cost increase for transportation projects is 0.14%.

Trigunarsyah, B (2004) Constructability Practices among Construction Contractors in Indonesia. Journal of Construction Engineering and Management, 130(05), 656–69.

Wong, C H (2004) Contractor Performance Prediction Model for the United Kingdom Construction Contractor: Study of Logistic Regression Approach. Journal of Construction Engineering and Management, 130(05), 691–8.

Zhang, X (2004) Improving Concessionaire Selection Protocols in Public/Private Partnered Infrastructure Projects. Journal of Construction Engineering and Management, 130(05), 670–9.

Zhong, D, Li, J, Zhu, H and Song, L (2004) Geographic Information System-Based Visual Simulation Methodology and Its Application in Concrete Dam Construction Processes. Journal of Construction Engineering and Management, 130(05), 742–50.