Abstracts – Browse Results

Search or browse again.

Click on the titles below to expand the information about each abstract.
Viewing 13 results ...

Ammar, M A (2013) LOB and CPM Integrated Method for Scheduling Repetitive Projects. Journal of Construction Engineering and Management, 139(01), 44–50.

Bynum, P, Issa, R R A and Olbina, S (2013) Building Information Modeling in Support of Sustainable Design and Construction. Journal of Construction Engineering and Management, 139(01), 24–34.

Cheung, S O and Pang, K H Y (2013) Anatomy of Construction Disputes. Journal of Construction Engineering and Management, 139(01), 15–23.

Cho, K and Hastak, M (2013) Time and Cost–Optimized Decision Support Model for Fast-Track Projects. Journal of Construction Engineering and Management, 139(01), 90–101.

Dai, F, Rashidi, A, Brilakis, I and Vela, P (2013) Comparison of Image-Based and Time-of-Flight-Based Technologies for Three-Dimensional Reconstruction of Infrastructure. Journal of Construction Engineering and Management, 139(01), 69–79.

Gosling, J, Naim, M and Towill, D (2013) Identifying and Categorizing the Sources of Uncertainty in Construction Supply Chains. Journal of Construction Engineering and Management, 139(01), 102–10.

Li, H, Arditi, D and Wang, Z (2013) Factors That Affect Transaction Costs in Construction Projects. Journal of Construction Engineering and Management, 139(01), 60–68.

  • Type: Journal Article
  • Keywords: Construction costs; Construction management; Project management; Transaction costs; Construction project; Structural equation modeling; Construction management; Transaction cost economics;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000573
  • Abstract:
    The actual cost of a construction project is comprised of not only production costs, but also transaction costs. Transaction costs include but are not limited to the costs of preparing the bidding package, estimating, drawing up a contract, administering the contract, and dealing with any deviations from contract conditions. Transaction costs constitute an important part of the construction owner’s budget. However, understanding transaction costs is difficult because of the inconsistency and ambiguity in defining transaction costs in the literature. The objective of this paper is to identify methods to minimize the transaction costs borne by the construction owner. A structural equation model is tested on data collected by means of a survey administered to construction owners. The findings indicate that the transaction costs borne by the owner can be minimized if the owner minimizes the uncertainties inherent in the transaction environment by (1) ensuring the engineering design is as complete as possible before bids are sought from contractors, (2) exploring the possibility of adopting integrated project delivery methods that would allow the owner to engage the services of a contractor early in the design phase, (3) agreeing to share some of the risks with the contractors, (4) understanding well the behavior of contractors, and (5) paying close attention to project management efficiency.

Meduri, S S and Annamalai, T R (2013) Unit Costs of Public and PPP Road Projects: Evidence from India. Journal of Construction Engineering and Management, 139(01), 35–43.

Minchin, R E, Cui, S, Walters, R C, Issa, R and Pan, J (2013) Sino-American Opinions and Perceptions of Counterfeiting in the Construction Supply Chain. Journal of Construction Engineering and Management, 139(01), 1–8.

Rubio-Romero, J C, Rubio, M C and García-Hernández, C (2013) Analysis of Construction Equipment Safety in Temporary Work at Height. Journal of Construction Engineering and Management, 139(01), 9–14.

Tsolas, I E (2013) Modeling Profitability and Stock Market Performance of Listed Construction Firms on the Athens Exchange: Two-Stage DEA Approach. Journal of Construction Engineering and Management, 139(01), 111–9.

Valdes-Vasquez, R and Klotz, L E (2013) Social Sustainability Considerations during Planning and Design: Framework of Processes for Construction Projects. Journal of Construction Engineering and Management, 139(01), 80–89.

Zeynalian, M, Trigunarsyah, B and Ronagh, H R (2013) Modification of Advanced Programmatic Risk Analysis and Management Model for the Whole Project Life Cycle’s Risks. Journal of Construction Engineering and Management, 139(01), 51–59.