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Abdalla, A, Li, X and Yang, F (2024) Expatriate construction professionals' performance in international construction projects: The role of cross-cultural adjustment and job burnout. Journal of Construction Engineering and Management, 150(03).
Chen, S, Chen, D, Li, L, Miramini, S and Zhang, L (2024) Optimized bridge maintenance strategies: A system reliability-based approach to enhancing road network performance. Journal of Construction Engineering and Management, 150(03).
Do, Q, Le, T and Le, C (2024) Uncovering critical causes of highway work zone accidents using unsupervised machine learning and social network analysis. Journal of Construction Engineering and Management, 150(03).
Gu, J and Guo, F (2024) Promoting digital sustainability through project digital responsibility implementation: An empirical analysis. Journal of Construction Engineering and Management, 150(03).
Guo, J and Kato, H (2024) Role of government equity investment in capital structure of project finance: Global evidence from PPP projects in developing countries. Journal of Construction Engineering and Management, 150(03).
Halder, A and Batra, S (2024) Navigating the ethical discourse in construction: A state-of-the-art review of relevant literature. Journal of Construction Engineering and Management, 150(03).
Harode, A, Thabet, W and Leite, F (2024) Formulation of feature and label space using modified Delphi in support of developing a machine-learning algorithm to automate clash resolution. Journal of Construction Engineering and Management, 150(03).
Heydari, M, Heravi, G, Raeisinafchi, R and Karimi, H (2024) A dynamic model to assess the role of site supervision systems in the safety performance of construction projects. Journal of Construction Engineering and Management, 150(03).
Ibrahim, A, Nnaji, C, Namian, M and Shakouri, M (2024) Evaluating the impact of hazard information on fieldworkers' safety risk perception. Journal of Construction Engineering and Management, 150(03).
Ko, T, Lee, J and David Jeong, H (2024) Project requirements prioritization through NLP-driven classification and adjusted work items analysis. Journal of Construction Engineering and Management, 150(03).
Lee, D, Nie, G Y and Han, K (2024) Automatic and real-time joint tracking and three-dimensional scanning for a construction welding robot. Journal of Construction Engineering and Management, 150(03).
Li, Q, Yang, Y, Yao, G, Wei, F, Xue, G and Qin, H (2024) Multiobject real-time automatic detection method for production quality control of prefabricated laminated slabs. Journal of Construction Engineering and Management, 150(03).
Oguz Erkal, E D, Hallowell, M R, Ghriss, A and Bhandari, S (2024) Predicting serious injury and fatality exposure using machine learning in construction projects. Journal of Construction Engineering and Management, 150(03).
Qureshi, A H, Alaloul, W S, Murtiyoso, A, Hussain, S J, Saad, S and Musarat, M A (2024) Automated scaling of point cloud rebar model via aruco-supported controlled markers. Journal of Construction Engineering and Management, 150(03).
Rajabi Asadabadi, M and Zwikael, O (2024) Unrealistic project goals: Detection and modification. Journal of Construction Engineering and Management, 150(03).
- Type: Journal Article
- Keywords: business case; project investment decision; project target benefits
- ISBN/ISSN: 0733-9364
- URL: http://doi.org/10.1061/JCEMD4.COENG-13665
- Abstract:
Determining whether to invest in a project is a complex and challenging decision. This project investment decision relies heavily on its promised strategic goals (i.e., target benefits) stated in its business case and which are expected to be realized following project completion. However, in many cases, the proposed project benefits are far greater than those that the project realistically can achieve, leading to the risk of projects being funded erroneously. The construction management literature has offered approaches such as reference class forecasting (RCF) to rectify unrealistic project estimates. This paper identifies weaknesses in the current approaches, exposes their inefficiency, and proposes a step-by-step stratified approach as an effective alternative to detect, measure, and rectify unrealistic estimates of project benefits, and utilizes the proposed approach on a light rail construction project. The contribution of this approach is that each project benefit target can be rectified differently, based on the measurable levels of deviation from more-realistic estimates. This paper advances the construction management literature by enabling managers to set realistic project goals in the project front end, increase the reliability of estimates in the project business case, and improve the quality of project investment decisions.
Sadeghi, N, Dehghani, M S and Ingolfsson, A (2024) Choice of probability distributions for activity durations in project networks with limited sample size. Journal of Construction Engineering and Management, 150(03).
Seo, W, Kim, B, Bang, S and Kang, Y (2024) Identifying key financial variables predicting the financial performance of construction companies. Journal of Construction Engineering and Management, 150(03).
Tarekegn Gurmu, A and Mahmood, M N (2024) Critical factors affecting quality in building construction projects: Systematic review and meta-analysis. Journal of Construction Engineering and Management, 150(03).
Withrow, J, Dadi, G, Nassereddine, H and Sturgill, R (2024) Asphalt material e-ticketing workflow: Qualitative and quantitative analysis. Journal of Construction Engineering and Management, 150(03).
Zhang, Y, Ren, X, Zhang, J and Ma, Z (2024) A method for deformation detection and reconstruction of shield tunnel based on point cloud. Journal of Construction Engineering and Management, 150(03).