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Adedokun, O, Aje, I, Awodele, O and Egbelakin, T (2022) Are the public tertiary education building projects devoid of risks in the Nigerian construction context?. Journal of Financial Management of Property and Construction, 27(02), 259-78.
Adinyira, E, Agyekum, K, Manu, P, Mahamadu, A M and Olomolaiye, P (2022) Lessening procurement deviations using procurement post reviews: evidence from Ghana. Journal of Financial Management of Property and Construction, 27(02), 199-219.
Amadi, C, Carrillo, P and Tuuli, M (2020) PPP projects: improvements in stakeholder management. Engineering, Construction and Architectural Management, 27(02), 544–60.
Burford, N K and Smith, F W (1999) Developing a new military shelter system: a technical study in advanced materials and structures. Building Research & Information, 27(02), 64–83.
Deep, S, Bhoola, V, Verma, S and Ranasinghe, U (2022) Identifying the risk factors in real estate construction projects: an analytical study to propose a control structure for decision-making. Journal of Financial Management of Property and Construction, 27(02), 220-38.
- Type: Journal Article
- Keywords: claims in construction; claims redressal mechanism; project management; project risks; real estate; real estate construction project; real estate sector; risk management
- ISBN/ISSN:
- URL: https://doi.org/10.1108/JFMPC-03-2020-0018
- Abstract:
Purpose: Construction projects in the real estate sector are important for a nation’s economic growth. However, owing to several constraints and stereotypes, the construction industry is suffering from major capital losses. A review of recent literature revealed that risks occurring in real estate construction projects (RECPs) carried out in developing economies can be divided into four categories, i.e. financial risks, design risks, execution risks and sociopolitical risks. This study aims to identify the critical factors that lead to these risk categories and develop a control structure for RECPs. Design/methodology/approach: A quantitative method, i.e. a questionnaire-based survey, was used for this study. Using a random sampling technique the questionnaire was distributed to selected, highly experienced project managers. To determine whether the factors identified as part of the literature review strongly influence the categories, the factor analysis of the observations was performed. Findings: The observations made in this study lead to the identification of six critical risk causing factors, i.e. lack of efficient planning, execution constraints, external constraints, client-induced constraints, project constraints and partner experience. The observations indicated a lack of knowledge of project management, organizational culture and a claims redressal mechanism in RECPs. Also, this study recommends a blockchain-based control structure to control the occurrence of the risk causing factors identified. Originality/value: This study recommends a blockchain-based control structure for controlling the risks occurring. © 2021, Emerald Publishing Limited.
Dehdasht, G, Ferwati, M S, Abidin, N Z and Oyedeji, M O (2022) Trends of construction industry in Malaysia and its emerging challenges. Journal of Financial Management of Property and Construction, 27(02), 161-78.
Elazouni, A (2009) Heuristic method for multi-project finance-based scheduling. Construction Management and Economics, 27(02), 199–211.
Horne, M, Hill, R and Giddings, R (1999) Visualization of photovoltaic clad buildings. Building Research & Information, 27(02), 96–108.
Huo, X, Yu, A T W, Zezhou, W and Jayantha, W M (2020) Site planning and design of green residential building projects: case studies in China. Engineering, Construction and Architectural Management, 27(02), 525–43.
Hyung, W G, Kim, S and Jo, J K (2020) Improved similarity measure in case-based reasoning: A case study of construction cost estimation. Engineering, Construction and Architectural Management, 27(02), 561-78.
Johari, S and Jha, K N (2020) Challenges of attracting construction workers to skill development and training programmes. Engineering, Construction and Architectural Management, 27(02), 321–40.
Lam, K C and Chow, W S (1999) The significance of financial risks in BOT procurement. Building Research & Information, 27(02), 84–95.
Li, X K, Wang, X M and Lei, L (2020) The application of an ANP-fuzzy comprehensive evaluation model to assess lean construction management performance. Engineering, Construction and Architectural Management, 27(02), 356-84.
Mallisetti, V, Dolla, T and Laishram, B (2022) Unpacking the framework of unsolicited proposal for public private partnership projects – the Indian case. Journal of Financial Management of Property and Construction, 27(02), 179-98.
Mellado, F, Lou, E C W and Becerra, C L C (2020) Synthesising performance in the construction industry: An analysis of performance indicators to promote project improvement. Engineering, Construction and Architectural Management, 27(02), 579-608.
Ng, S T, Fan, R Y C, Wong, J M W, Chan, A P C, Chiang, Y H, Lam, P T I and Kumaraswamy, M (2009) Coping with structural change in construction: experiences gained from advanced economies. Construction Management and Economics, 27(02), 165–80.
Nwaogu, J M, Chan, A P, Hon, C K and Darko, A (2020) Review of global mental health research in the construction industry. Engineering, Construction and Architectural Management, 27(02), 385–410.
Ofori, G and Toor, S-U-R (2009) Research on cross-cultural leadership and management in construction: a review and directions for future research. Construction Management and Economics, 27(02), 119–33.
Oyegoke, A S, Powell, R, Ajayi, S, Godawatte, G A G R and Akenroye, T (2022) Factors affecting the selection of effective cost control techniques in the UK construction industry. Journal of Financial Management of Property and Construction, 27(02), 141-60.
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Rohman, M A (2022) Assessment of the government’s role performance in public-private partnership (PPP) toll road projects in Indonesia. Journal of Financial Management of Property and Construction, 27(02), 239-58.
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Wang, X, Shi, L, Wang, B and Kan, M (2020) A method to evaluate credit risk for banks under PPP project finance. Engineering, Construction and Architectural Management, 27(02), 483-501.
Warsame, A (2009) Organizational modes in the residential building sector in Sweden. Construction Management and Economics, 27(02), 153–63.
Wei, H, Minggang, H and Qun, H (1999) Quasi-static testing of composite masonry construction. Building Research & Information, 27(02), 120–3.
Yevu, S K and Yu, A T W (2020) The ecosystem of drivers for electronic procurement adoption for construction project procurement. Engineering, Construction and Architectural Management, 27(02), 411–40.
Zarghami, S A and Gunawan, I (2020) A domain-specific measure of centrality for water distribution networks. Engineering, Construction and Architectural Management, 27(02), 341–55.
Zhou, S, Ng, S T, Lee, S H, Xu, F J and Yang, Y (2020) A domain knowledge incorporated text mining approach for capturing user needs on BIM applications. Engineering, Construction and Architectural Management, 27(02), 458-82.
Zohrehvandi, S, Vanhoucke, M, Soltani, R and Javadi, M (2020) A reconfigurable model for implementation in the closing phase of a wind turbines project construction. Engineering, Construction and Architectural Management, 27(02), 502–24.