Abstracts – Browse Results
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Bediawan, D (2003) Determinants of process innovation on construction projects from contractors' perspective, Unpublished PhD Thesis, , Queensland University of Technology.
Cheung, F K T (2005) Development and testing of a method for forecasting prices of multi-storey buildings during the early design stage: The storey enclosure method revisited, Unpublished PhD Thesis, , Queensland University of Technology.
Creedy, G D (2006) Risk factors leading to cost overrun in the delivery of highway construction projects, Unpublished PhD Thesis, , Queensland University of Technology.
- Type: Thesis
- Keywords: accuracy; construction project; highway; audit; estimating; project cost; project delivery; client; Australia; factor analysis; regression analysis
- ISBN/ISSN:
- URL: https://eprints.qut.edu.au/16399/
- Abstract:
Accurate client budget estimates are critical to the initial decision-to-build process for the highway construction projects. This decision-to-build point in a project's development is seen as the international standard for measuring any subsequent cost estimate inaccuracies involved (National Audit Office/Department of Transport, 1992; World Bank, 1994; Nijkamp and Ubbels, 1999), with accuracy being defined as the difference between the initial project estimate at the decision-to-build stage and the real, accounted project cost determined at the time of project completion. Expressed as a percentage of estimated cost, this is often termed cost escalation, cost overrun or cost growth, and occurs as a result of many factors, some of which are related to each other, but all are associated with forms of risks. The analysis of these risks is often a necessary step for the improvement of any given estimating system and can be used to diagnose trouble spots and to pinpoint areas where project estimating accuracy improvement might be obtained. In this research, highway projects in Queensland, Australia that have suffered significant cost overrun are analysed. The research seeks to address the gap in the knowledgebase as to why highway projects overrun their costs. It focuses on understanding how client projects budgets go wrong, when dealing with project risk. The foundation for this research is drawn from the post-mortem analysis of highway projects, each costing in excess of A$1m and whose final total expenditure exceeded budget by 10% or greater. The research identifies client risk variables which have contributed to significant cost overrun and then uses factor analysis and also expert elicitation, using nominal group technique, to establish groups of importance ranked client risks. Stepwise multivariate regression analysis is then used to investigate any correlation of these risks, along with project attributes such as highway project type, indexed project cost, geographic location and project delivery method to the percentage of cost overrun. The research results indicates a correlation between the reciprocal of project budget size and percentage cost overrun that can be useful in clients determining more realistic decision-to build highway budget estimates when taking into account project size in relation to economy of scale.
Fox, P W (2003) Construction industry development: Analysis and synthesis of contributing factors, Unpublished PhD Thesis, , Queensland University of Technology.
Fraser, C (1998) Personal factors influencing managerial effectiveness: A study of Australian construction site managers, Unpublished PhD Thesis, , Queensland University of Technology.
Kwok, T L (1998) Strategic alliances in construction: A study of contracting relationships and competitive advantage in public sector building works, Unpublished PhD Thesis, , Queensland University of Technology.
Liston, J (1994) Contractor prequalification, Unpublished PhD Thesis, , Queensland University of Technology.
Magub, A T (2006) Experiences of the phenomenon of internet use for information sharing on construction projects and skills set identification for effective project participation, Unpublished PhD Thesis, , Queensland University of Technology.
Pongpeng, J (2002) Multicriteria and multidecision-makers in tender evaluation, Unpublished PhD Thesis, , Queensland University of Technology.
Rahman, A (2014) The determinants of multinational contractors' willingness to bid for Australian public sector major infrastructure projects: deploying the eclectic paradigm of internationalisation, Unpublished PhD Thesis, Civil Engineering and Built Environment School, Queensland University of Technology.
Runeson, G r (1996) Models of construction price determination: A comparative appraisal, Unpublished PhD Thesis, , Queensland University of Technology.
Teo, P (2014) The effect of procurement on competition and flexibility : determining the suitability of public-private partnerships in major infrastructure projects, Unpublished PhD Thesis, Civil Engineering and Built Environment School, Queensland University of Technology.
Yang, J (1991) An expert system for project analysis and control, Unpublished PhD Thesis, , Queensland University of Technology.
Zarkada, A (1998) Tendering ethics: A study of collusive tendering from a marketing perspective, Unpublished PhD Thesis, , Queensland University of Technology.