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Ahmadian Fard Fini, A, Maghrebi, M, Forsythe, P J and Waller, T S (2022) Using existing site surveillance cameras to automatically measure the installation speed in prefabricated timber construction. Engineering, Construction and Architectural Management, 29(02), 573-600.
Ayodele, O A, Chang-Richards, Y and González, V A (2022) A framework for addressing construction labour turnover in New Zealand. Engineering, Construction and Architectural Management, 29(02), 601-18.
Bordass, B, Cohen, R, Standeven, M and Leaman, A (2001) Assessing building performance in use 2: technical performance of the Probe buildings. Building Research & Information, 29(02), 103–13.
Bordass, B, Cohen, R, Standeven, M and Leaman, A (2001) Assessing building performance in use 3: technical performance of the Probe buildings. Building Research & Information, 29(02), 114–28.
Bordass, B, Leaman, A and Ruyssevelt, P (2001) Assessing building performance in use 5: technical performance of the Probe buildings. Building Research & Information, 29(02), 144–57.
Cao, D, Shao, S, Huang, B and Wang, G (2022) Multidimensional behavioral responses to the implementation of BIM in construction projects: an empirical study in China. Engineering, Construction and Architectural Management, 29(02), 819-41.
Cohen, R, Standeven, M, Bordass, B and Leaman, A (2001) Assessing building performance in use 1: the Probe process. Building Research & Information, 29(02), 85–102.
Cooper, I (2001) Post-occupancy evaluation - where are you?. Building Research & Information, 29(02), 158–63.
Do, S T, Nguyen, V T and Dang, C N (2022) Exploring the relationship between failure factors and stakeholder coordination performance in high-rise building projects: empirical study in the finishing phase. Engineering, Construction and Architectural Management, 29(02), 870-95.
Eley, J (2001) How do post-occupancy evaluation and the facilities manager meet?. Building Research & Information, 29(02), 164–7.
Gannon, M J and Smith, N J (2011) An effective outline business case to facilitate successful decision-making. Construction Management and Economics, 29(02), 185–97.
Gurgun, A P and Koc, K (2022) Administrative risks challenging the adoption of smart contracts in construction projects. Engineering, Construction and Architectural Management, 29(02), 989-1015.
Hung, Y-H, Smith-Jackson, T and Winchester, W (2011) Use of attitude congruence to identify safety interventions for small residential builders. Construction Management and Economics, 29(02), 113–30.
Katebi, A, Mohammadhosseini, A, Najmeddin, M and Homami, P (2024) The moderating impact of organizational readiness, competitive pressure and compatibility on the cost of using precast concrete components. Journal of Financial Management of Property and Construction, 29(02), 274-94.
Ketabi, A B and Heravi, G (2022) Developing a framework for evaluating construction project safety levels and optimal cost allocation to safety influential factors. Engineering, Construction and Architectural Management, 29(02), 643-68.
Kim, Y-W and Kim, S-C (2011) Cost analysis of information technology-assisted quality inspection using activity-based costing. Construction Management and Economics, 29(02), 163–72.
Larsson, N K (2001) iiSBE: the international initiative for sustainable built environment. Building Research & Information, 29(02), 175–7.
Leaman, A and Bordass, B (2001) Assessing building performance in use 4: technical performance of the Probe buildings. Building Research & Information, 29(02), 129–43.
Liu, A M M, Fellows, R and Tuuli, M M (2011) The role of corporate citizenship values in promoting corporate social performance: towards a conceptual model and a research agenda. Construction Management and Economics, 29(02), 173–83.
Loosemore, M and McCallum, A (2022) The situational and individual determinants of entrepreneurship in the construction industry. Engineering, Construction and Architectural Management, 29(02), 1038-60.
Loosemore, M, Alkilani, S Z and Hammad, A W A (2022) Barriers to employment for refugees seeking work in the Australian construction industry: an exploratory study. Engineering, Construction and Architectural Management, 29(02), 619-42.
Maheswari, J U, Mujumdar, P, Padala, S P S and Gwaskoti, A (2022) BDM–MDM integrated solution concept for scheduling information-driven projects. Engineering, Construction and Architectural Management, 29(02), 1016-37.
Mohammadi, S, Tavakolan, M and Zahraie, B (2022) An intelligent simulation-based framework for automated planning of concrete construction works. Engineering, Construction and Architectural Management, 29(02), 916-39.
Osei-Appiah, V K, Kissi, E, Karikari, V A, Ayeng, P, Danquah-Smith, E and Adesi, M (2024) Assessing the impact of early supplier involvement on public works procurement. Journal of Financial Management of Property and Construction, 29(02), 229-49.
Ríos-Fernández, J C (2022) Thermal performance assessment of cool roofs on supermarkets through case analysis in 13 cities. Engineering, Construction and Architectural Management, 29(02), 739-54.
Rajhans, R K (2024) How do economic policy uncertainty and leverage impact firm-level cash holding distribution of housing companies in an emerging economy? A quantile regression approach. Journal of Financial Management of Property and Construction, 29(02), 331-48.
Rathnayaka, L S D, Malsha Nadeetharu, B K and Kulatunga, U (2024) Applicability of electronic document management system (EDMS) for the cost management of mega construction projects in Sri Lanka. Journal of Financial Management of Property and Construction, 29(02), 314-30.
Scrase, J I (2001) Curbing the growth in UK commercial energy consumption. Building Research & Information, 29(02), 51–61.
Shah, M A, Kumar, S, Shah, M A and Rasool, A (2024) Examining the relationship among critical success factors (CSFs) for delivery of sustainable public-private partnership projects. Journal of Financial Management of Property and Construction, 29(02), 250-73.
Shalwani, A and Lines, B (2022) Using issue logs to improve construction project performance. Engineering, Construction and Architectural Management, 29(02), 896-915.
Sheamar, S, Wedawatta, G, Tennakoon, M, Palliyaguru, R and Antwi-Afari, M F (2024) The potential of new models of construction procurement to counter cost overruns in construction projects: an exploratory study from a contractors’ perspective. Journal of Financial Management of Property and Construction, 29(02), 211-28.
- Type: Journal Article
- Keywords: collaboration; construction cost escalation; cost overrun; cost-led procurement; integrated project insurance; procurement; two stage open book model
- ISBN/ISSN:
- URL: https://doi.org/10.1108/JFMPC-08-2022-0035
- Abstract:
Purpose: Cost overrun is a significant issue in construction, an undesirable feature the industry has long been associated with. Poor procurement practices are often blamed for subsequent cost overruns in construction, especially with conventional procurement methods leading to outrageous cost overruns. The purpose of this study is to review the features of the new models of construction procurement (NMCP) and assess their potential to reduce cost overruns in construction projects. Design/methodology/approach: A literature review was conducted to identify the issues of procurement leading to cost escalations. Primary data were obtained through exploratory, semi-structured interviews using a case study approach. Findings: Clients’ lack of knowledge was highlighted as a key issue in procurement that interlinks with many factors causing cost escalation. The findings suggest that the features contained within the NMCP, such as early contractor involvement and collaboration throughout the project team, have the potential to make a positive contribution to addressing cost escalation in construction. Research limitations/implications: The primary research was undertaken as an exploratory study and presents the contractor's perspective. Further research is therefore suggested, with multiple organisations representing all key stakeholders in a construction project, including clients, consultants, sub-contractors and suppliers. Practical implications: The study recommends awareness of the NMCP be raised throughout the industry, and simplified information must be made available to help widen uptake of these contemporary procurement methods. Originality/value: Addressing the dearth of research concerning the use of NMCP within the industry, this study makes a niche contribution to the body of knowledge on construction cost management by illustrating the potential offered by these new procurement methods for addressing cost escalation. For an industry where collaboration is accepted with reservations, this case study demonstrates how novel collaborative strategies such as open book costing, project bank accounts and shared pain and gain mechanisms can be implemented as part of the procurement strategy and how such strategies can contribute towards minimising the cost escalation inherent in construction projects. © 2023, Emerald Publishing Limited.
Silva, P M, Domingo, N and Ameer Ali, N A N (2024) Causes of disputes in the construction industry – a systematic literature review. Journal of Financial Management of Property and Construction, 29(02), 193-210.
Singla, H K and Chammanam, S S (2024) Development of a financial performance measurement model for real estate business: an exploratory study in India. Journal of Financial Management of Property and Construction, 29(02), 295-313.
Styhre, A (2011) In the circuit of credibility: construction workers and the norms of "a good job". Construction Management and Economics, 29(02), 199–209.
Teo, M M and Loosemore, M (2011) Community-based protest against construction projects: a case study of movement continuity. Construction Management and Economics, 29(02), 131–44.
Wahab, A and Wang, J (2022) Factors-driven comparison between BIM-based and traditional 2D quantity takeoff in construction cost estimation. Engineering, Construction and Architectural Management, 29(02), 702-15.
Wang, G, Liu, M, Cao, D and Tan, D (2022) Identifying high-frequency–low-severity construction safety risks: an empirical study based on official supervision reports in Shanghai. Engineering, Construction and Architectural Management, 29(02), 940-60.
Yang, J, Shen, P Q, Bourne, L, Ho, C M-F and Xue, X (2011) A typology of operational approaches for stakeholder analysis and engagement. Construction Management and Economics, 29(02), 145–62.
Zahoor, H, Khan, R M, Nawaz, A, Ayaz, M and Maqsoom, A (2022) Project control and forecast assessment of building projects in Pakistan using earned value management. Engineering, Construction and Architectural Management, 29(02), 842-69.
Zaryoun, M, Hosseini, M and Soleymani, K (2022) Sustainable architecture and earthquake resilience of vernacular Zegalli houses in northern Iran. Engineering, Construction and Architectural Management, 29(02), 1061-85.
Zimmerman, A and Martin, M (2001) Post-occupancy evaluation: benefits and barriers. Building Research & Information, 29(02), 168–74.
Zohrehvandi, S, Khalilzadeh, M, Amiri, M and Shadrokh, S (2022) Project buffer sizing and dynamic buffer consumption algorithm in power generation construction. Engineering, Construction and Architectural Management, 29(02), 716-38.
Zou, X, Zhang, L and Zhang, Q (2022) Time-cost optimization in repetitive project scheduling with limited resources. Engineering, Construction and Architectural Management, 29(02), 669-701.