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Cha, H S and O’Connor, J T (2005) Optimizing Implementation of Value Management Processes for Capital Projects. Journal of Construction Engineering and Management, 131(02), 239–51.

Darren Graham, L, Smith, S D and Dunlop, P (2005) Lognormal Distribution Provides an Optimum Representation of the Concrete Delivery and Placement Process. Journal of Construction Engineering and Management, 131(02), 230–8.

Dikmen, I, Birgonul, M T and Kiziltas, S (2005) Prediction of Organizational Effectiveness in Construction Companies. Journal of Construction Engineering and Management, 131(02), 252–61.

Elhakeem, A and Hegazy, T (2005) Graphical Approach for Manpower Planning in Infrastructure Networks. Journal of Construction Engineering and Management, 131(02), 168–75.

Hinze, J, Huang, X and Terry, L (2005) The Nature of Struck-by Accidents. Journal of Construction Engineering and Management, 131(02), 262–8.

Kajewski, S L (2005) Multilevel Formwork Load Distribution with Posttensioned Slabs. Journal of Construction Engineering and Management, 131(02), 203–10.

Kazaz, A and Birgonul, M T (2005) Determination of Quality Level in Mass Housing Projects in Turkey. Journal of Construction Engineering and Management, 131(02), 195–202.

Love, P E D, Tse, R Y C and Edwards, D J (2005) Time–Cost Relationships in Australian Building Construction Projects. Journal of Construction Engineering and Management, 131(02), 187–94.

Ping Ho, S (2005) Bid Compensation Decision Model for Projects with Costly Bid Preparation. Journal of Construction Engineering and Management, 131(02), 151–9.

Schexnayder, C, Knutson, K and Fente, J (2005) Describing a Beta Probability Distribution Function for Construction Simulation. Journal of Construction Engineering and Management, 131(02), 221–9.

Shen, L Y and Wu, Y Z (2005) Risk Concession Model for Build/Operate/Transfer Contract Projects. Journal of Construction Engineering and Management, 131(02), 211–20.

Walsh, K D, Sawhney, A and Brown, A (2005) International Comparison of Cost for the Construction Sector: Purchasing Power Parity. Journal of Construction Engineering and Management, 131(02), 160–7.

  • Type: Journal Article
  • Keywords: Economic analysis; Financial management; Construction costs; Cost estimates; Construction management; International factors;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2005)131:2(160)
  • Abstract:
    The importance of the construction sector in national economies around the globe and the global nature of the industry require a prudent international comparison of construction costs. From the view of international construction ventures, cost comparisons have generally been accomplished using published currency exchange rates. Global organizations dealing with development aid and the comparison of the gross domestic product (GDP) of nations have used an approach that has its roots in established econometric theories. This approach is based on the Casselian purchasing power parity (PPP) doctrine that essentially conducts the comparison based on the local purchasing power of currencies, as opposed to exchange rates. The World Bank, which conducts the GDP comparison, uses the PPP-based approach to compare construction sector output. This paper provides an overview of the background and application of PPP and its use for international cost comparisons conducted for various nations. Methods currently used for construction cost comparisons are reviewed. A critical review of domestic construction cost comparison approaches is provided with the intent to identify the key differences between temporal and spatial comparisons. Case studies of construction cost factors are used to demonstrate the importance of PPP-based cost comparisons for construction economics.

Zheng, D X M and Ng, S T (2005) Stochastic Time–Cost Optimization Model Incorporating Fuzzy Sets Theory and Nonreplaceable Front. Journal of Construction Engineering and Management, 131(02), 176–86.