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Al Zarooni, S, Abdou, A and Lewis, J (2011) Improving the Client Briefing for UAE Public Healthcare Projects: Space Programming Guidelines. Architectural Engineering and Design Management, 7(04), 251–65.

Al-Gahtani, K, Alsulaihi, I, Ali, M and Marzouk, M (2017) Production of green concrete using recycled waste aggregate and byproducts. Built Environment Project and Asset Management, 7(04), 413-25.

Al-Hajj, A and Hamani, K (2011) Material Waste in the UAE Construction Industry: Main Causes and Minimization Practices. Architectural Engineering and Design Management, 7(04), 221–35.

Alhmoudi, A A and Aziz, Z (2016) Integrated framework for early warning system in UAE. International Journal of Disaster Resilience in the Built Environment, 7(04), 361-73.

Dawood, N N and Bates, W (2000) A decision support system specification for out-turn cost and cost escalation in the heavy engineering industry. Engineering, Construction and Architectural Management, 7(04), 330–46.

Dhanasekar, M (2000) Identification of optimal size resources for a repetitive housing construction. Engineering, Construction and Architectural Management, 7(04), 347–61.

Fellows, R and Liu, A M M (2000) Human dimensions in modelling prices of building projects. Engineering, Construction and Architectural Management, 7(04), 362–72.

Fernández-Solís, J L, Pathak, R, Lavy, S, Beltrán, L O, Son, K and Kim, K (2011) Framework for Selecting Performance Assessment Tools for Achieving LEED 3.0 Credits. Architectural Engineering and Design Management, 7(04), 236–50.

Gilleard, J (1989) Computerized reference sources in the construction industry. Construction Management and Economics, 7(04), 321-30.

Gunderson, D E and Gloeckner, G W (2011) Superintendent competencies and attributes required for success: a national study comparing construction professionals’ opinions. International Journal of Construction Education and Research, 7(04), 29.

Hettige, N, Perera, B A K S and Mallawaarachchi, H (2017) A framework for adopting green leasing in developing countries: The case of Sri Lanka. Built Environment Project and Asset Management, 7(04), 377-87.

Horney, J, Simon, M C, Ricchetti-Masterson, K and Berke, P (2016) Resident perception of disaster recovery planning priorities. International Journal of Disaster Resilience in the Built Environment, 7(04), 330-43.

Howes, R (2000) Improving the performance of Earned Value Analysis as a construction project management tool. Engineering, Construction and Architectural Management, 7(04), 399–411.

Kabasakal, H E and Sözen, Z (1989) Organizational context, structural attributes and management systems in construction firms. Construction Management and Economics, 7(04), 347-56.

Kakimoto, R and Yamada, F (2016) Autonomous evacuation and local community. International Journal of Disaster Resilience in the Built Environment, 7(04), 374-87.

Kim, H and Kakimoto, R (2016) An international comparative analysis of local hazard mitigation plan evaluation for flood: The USA, Japan and Korea. International Journal of Disaster Resilience in the Built Environment, 7(04), 406-19.

Korkmaz, S, Riley, D and Horman, M (2011) Assessing Project Delivery for Sustainable, High-Performance Buildings Through Mixed Methods. Architectural Engineering and Design Management, 7(04), 266–74.

Kumaraswamy, M, Wong, K K W and Chung, J (2017) Focusing megaproject strategies on sustainable best value of stakeholders. Built Environment Project and Asset Management, 7(04), 441-55.

Ling, F Y-Y, Ofori, G and Low, S P (2000) Importance of design consultants’ soft skills in design-build projects. Engineering, Construction and Architectural Management, 7(04), 389–98.

Lordsleem Júnior, A C and Melhado, S B (2011) Design for Producing Vertical Non-Loadbearing Masonry: Scope Analysis. Architectural Engineering and Design Management, 7(04), 275–84.

Lummen, N S, Shirozu, H, Okada, N and Yamada, F (2016) Flood risk management an illustrative approach. International Journal of Disaster Resilience in the Built Environment, 7(04), 388-405.

MacAskill, K and Guthrie, P (2016) Disaster risk reduction and empowering local government – a case comparison between Sri Lanka and New Zealand. International Journal of Disaster Resilience in the Built Environment, 7(04), 318-29.

Marsh, L and Flanagan, R (2000) Measuring the costs and benefits of information technology in construction. Engineering, Construction and Architectural Management, 7(04), 423–35.

Nageim, H A and Pountney, D (2007) A non-linear optimisation technique based on the complex method: The optimal design of a concrete trough supporting a new lightweight rail track system, LR55. Construction Innovation, 7(04), 320–39.

Nesan Lenin, J (2011) Integrated e-bidding framework for construction. International Journal of Construction Education and Research, 7(04), 243–58.

Niskanen, T and Lauttalammi, J (1989) Accident risks during handling of materials at building construction sites. Construction Management and Economics, 7(04), 283-301.

Ophiyandri, T, Amaratunga, D and Keraminiyage, K (2016) Advantages and limitations of community-based post-disaster housing reconstruction projects. International Journal of Disaster Resilience in the Built Environment, 7(04), 420-31.

Ozcan, D G (2017) An analytic network process model to examine LEED-certified buildings’ operational performance. Built Environment Project and Asset Management, 7(04), 366-76.

Puddicombe, M S (2011) The contingencies of project management: a factor analytic approach to complexity and novelty. International Journal of Construction Education and Research, 7(04), 259–75.

Rahmayati, Y (2016) Reframing “building back better” for post-disaster housing design: a community perspective. International Journal of Disaster Resilience in the Built Environment, 7(04), 344-60.

Shelbourn, M, Bouchlaghem, N M, Anumba, C and Carrillo, P (2007) Planning and implementation of effective collaboration in construction projects. Construction Innovation, 7(04), 357–77.

Skibniewski, M J and Molinski, J (1989) Modelling of building production activities for multi-facility projects. Construction Management and Economics, 7(04), 357-65.

Tatari, O, Castro-Lacouture, D and Skibniewski, M J (2007) Current state of construction enterprise information systems: survey research. Construction Innovation, 7(04), 310–9.

Underwood, J, Alshawi, M A, Aouad, G F, Child, T and Faraj, I Z (2000) Enhancing building product libraries to enable the dynamic definition of design element specifications. Engineering, Construction and Architectural Management, 7(04), 373–88.

Waidyasekara, K G A S, De Silva, L and Rameezdeen, R (2017) Application of “r” principles to enhance the efficiency of water usage in construction sites. Built Environment Project and Asset Management, 7(04), 400-12.

Walimuni, P C, Samaraweera, A and De Silva, L (2017) Payment mechanisms for contractors for better environmental hazard controlling in road construction projects. Built Environment Project and Asset Management, 7(04), 426-40.

Weidman, J E, Miller, K R, Christofferson, J P and Newitt, J S (2011) Best practices for dealing with price volatility in commercial construction. International Journal of Construction Education and Research, 7(04), 276–93.

  • Type: Journal Article
  • Keywords: construction; fluctuation; price; volatility
  • ISBN/ISSN:
  • URL: http://www.tandfonline.com/doi/abs/10.1080/15578771.2011.552936
  • Abstract:
    In the commercial construction industry, the problem of price volatility as it pertains to materials and labor is a consistent problem. The changing instability of market conditions presents a challenge for construction companies to accurately estimate and complete projects within budget. This volatility can lead to higher costs and more risk to suppliers, contractors, and owners which can cause financial distress for all parties involved in the construction process. Volatility in construction will continue to be a risk that participants in the construction industry will face. Price volatility can be economically dangerous when price changes affect the assumptions on which the contract is based. In an effort to identify the best practices being used by parties in the commercial construction industry for dealing with the risk of price fluctuation, panel members consisting of construction industry experts in the state of Utah were given rounds of questionnaires. This research report summarizes the responses of these industry professionals as to what they feel the best practices for dealing with the risks volatility creates in construction. Among the best practices given by the panel members were timely buyout, contract language, stockpiling materials, proposal time expirations, and good communication.

Williams, T P (2007) Application of treemaps to the analysis of competitively bid project cost overruns. Construction Innovation, 7(04), 340–56.

Wilson, H A (1989) Organizational behaviour and safety management in the construction industry. Construction Management and Economics, 7(04), 303-19.

Winch, G (1989) The construction firm and the construction project: a transaction cost approach. Construction Management and Economics, 7(04), 331-45.

Ye, S and Tiong, R K L (2000) Government support and risk-return trade-off in China's BOT power projects. Engineering, Construction and Architectural Management, 7(04), 412–22.

Zeb, J (2017) An eco asset ontology towards effective eco asset management. Built Environment Project and Asset Management, 7(04), 388-99.

Zhao, X and Pan, W (2017) Co-productive interrelations between business model and zero-carbon building: A conceptual model. Built Environment Project and Asset Management, 7(04), 353-65.