ARCOM

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Chen, Q, Reichard, G and Beliveau, Y (2008) Multiperspective Approach to Exploring Comprehensive Cause Factors for Interface Issues. Journal of Construction Engineering and Management, 134(06), 432–41.

Hassanein, A A and Hanna, R S (2008) Safety Performance in the Egyptian Construction Industry. Journal of Construction Engineering and Management, 134(06), 451–5.

Kim, D Y, Han, S H and Kim, H (2008) Discriminant Analysis for Predicting Ranges of Cost Variance in International Construction Projects. Journal of Construction Engineering and Management, 134(06), 398–410.

Type: Journal Article
Keywords: Cost control; Forecasting; Foreign projects; Risk management; Project management;
ISBN/ISSN: 0733-9364
URL: https://doi.org/10.1061/(ASCE)0733-9364(2008)134:6(398)
Abstract:
Unanticipated market conditions as well as project-related risks can easily lead to cost overruns in international construction projects. For a contractor to be financially successful in international projects, a careful examination of the project is a prerequisite to understanding the cost variance characteristics. Based on the reasonably accurate characterization of the cost performance, the markup or contingency amount is determined to ensure both a decent level of profit and a good chance of winning the contract. This paper presents a classification model to categorize international construction projects, particularly faced by Korean contractors, into five cost-variation classes: extreme cost overrun, moderate cost overrun, neutral, moderate cost saving, and extreme cost saving. The model is able to characterize an international project for its cost performance prediction in comparison to the contractor’s initial cost estimate. A linear discriminant analysis is utilized to develop the predictive classification model with the support of the bootstrap method. Tests show that the proposed model is able to help cost estimators determine a proper level of cost contingency before bidding on an international project.

Nasrallah, W F and Bou-Matar, R (2008) Exponential, Gamma, and Power Law Distributions in Information Flow on a Construction Site. Journal of Construction Engineering and Management, 134(06), 442–50.

Rojas, E M and Kell, I (2008) Comparative Analysis of Project Delivery Systems Cost Performance in Pacific Northwest Public Schools. Journal of Construction Engineering and Management, 134(06), 387–97.

Taylor, T R B and Ford, D N (2008) Managing Tipping Point Dynamics in Complex Construction Projects. Journal of Construction Engineering and Management, 134(06), 421–31.