ARCOM

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Al-Zarrad, M A (2018) Multi-criteria decision-making model to improve linear repetitive projects time-cost trade-off in uncertain environment, Unpublished PhD Thesis, , University of Alabama.

Awolusi, I G (2017) Active construction safety leading indicator data collection and evaluation, Unpublished PhD Thesis, , University of Alabama.

Chau, A D (2018) Conceptual cost estimation decision support system in university construction projects, Unpublished PhD Thesis, , University of Alabama.

Egan, C M (1989) An evaluation of the effectiveness of the Mankato State university construction management program, Unpublished PhD Thesis, , University of Alabama.

Giron Matute, W A (2018) Sustainability analysis for construction companies under the LEED code, Unpublished PhD Thesis, , University of Alabama.

Harbin, K B (2020) A decision analysis tool for building renovations regarding adaptive reuse, Unpublished PhD Thesis, , The University of Alabama.

Hatamleh, M T (2020) Enhancing the management proficiencies in developing countries: The impact of project risk management within a project management maturity model on project performance, Unpublished PhD Thesis, , University of Alabama.

Macdonald, R N (2013) A strategy for materials price risk mitigation, Unpublished PhD Thesis, , The University of Alabama.

• Type: Thesis
• Keywords: cost control; markets; pricing; organizational structure; project performance; market; construction project; best practice
• ISBN/ISSN:
• URL: https://www.proquest.com/docview/1447247661
• Abstract:
  Construction projects are too commonly over budget and regularly contend with extreme fluctuations with regard to strategic materials pricing. The engineering and construction (E&C;) industry continues to struggle with effective cost control techniques and is in need of new tools and/or strategies to successfully address these mounting issues. A research study was undertaken for construction projects, inclusive of any delivery type, scale, or location, to identify existing strategies currently in use by the E&C; industry as well as other industries. A historical markup or price escalator for contingencies is not a universal solution for current and future market volatility. Their use was found to be inadequate 40% of the time. An opportunity exists for the E&C; industry to adopt established strategies currently in use by other industries to improve project performance. A model for materials price risk mitigation for particular use in the E&C; industry was developed and proposed. Using real-world projects the model is exercised to verify the positive, mitigating impact of derivative usage. The findings are that financial tools used by other industries are not only applicable in the construction industry but unique in project specific application. Hedging, in particular, was found to be effective more than 70% of the time. More specifically, hedging diminishes steel pricing escalation by 21% compared to non-hedging. With the steel market still in its infancy, the growth potential is vast. Other financial instruments and commodity markets should also be analyzed for applicable benefit to the construction industry. Best practices for installing organizational structure and processes for executing the model could be determined. Possible limitations are the lack of transparency in certain market structures and implementation costs. Ultimately, a better informed and more financially savvy E&C; industry will emerge.

Mejia Aguilar, G (2013) Improving accuracy of project outcome predictions, Unpublished PhD Thesis, , University of Alabama.

Nguyen, T T (2017) Modeling of clt creep behavior and real-time hybrid simulation of a clt-lifs building, Unpublished PhD Thesis, , The University of Alabama.

Ogunrinde, O (2020) Enhancing quality management in highway construction using emerging methods, Unpublished PhD Thesis, , University of Alabama.

Okpala, I U (2022) Robotics and automation in construction: Developing foundational insight and tools to support safe implementation, Unpublished PhD Thesis, , University of Alabama.

Premraj, P (2017) Assessment of project controls for shutdowns/turnarounds/outages, Unpublished PhD Thesis, , University of Alabama.

Shen, X (2017) Location-based leading indicators in BIM for construction safety, Unpublished PhD Thesis, , University of Alabama.

Song, S (2017) Construction equipment travel path visualization and productivity evaluation, Unpublished PhD Thesis, , University of Alabama.

Stone, M L C (2013) Development of unit cost estimating models with respect to scale economies and material price volatility for use in probabilistic life cycle cost analyses, Unpublished PhD Thesis, , University of Alabama.

Thomas, W K (2013) The impact of RFP phase project scope development on the successful outcome of construction projects using the design build project delivery method, Unpublished PhD Thesis, , University of Alabama in Huntsville.

Watson, S V (2010) Pre-disaster planning for transportation infrastructure recovery, Unpublished PhD Thesis, , The University of Alabama at Birmingham.