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Abbasnejad, B, Nasirian, A, Duan, S, Diro, A, Prasad Nepal, M and Song, Y (2024) Measuring BIM implementation: A mathematical modeling and artificial neural network approach. Journal of Construction Engineering and Management, 150(05).
Asadian, E, Azeez, S, Leicht, R M and Asadi, S (2024) Exploring the barriers to women in construction and the opportunities presented through lean. Journal of Construction Engineering and Management, 150(05).
Henao, Y, Grubert, E, Korey, M, Bank, L C and Gentry, R (2024) Life cycle assessment and life cycle cost analysis of repurposing decommissioned wind turbine blades as high-voltage transmission poles. Journal of Construction Engineering and Management, 150(05).
Huang, Y, Liu, D, Bell, F M, Yu, J and Pena-Mora, F (2024) Influences of intra- and interorganizational IT innovations on knowledge sharing and team creativity: Evidence from construction projects in China. Journal of Construction Engineering and Management, 150(05).
Min, Y and Lee, H W (2024) Adoption inequalities and causal relationship between residential electric vehicle chargers and heat pumps. Journal of Construction Engineering and Management, 150(05).
Nabi, M A, El-Adaway, I H and Assaad, R H (2024) Modeling inflation transmission among different construction materials. Journal of Construction Engineering and Management, 150(05).
- Type: Journal Article
- Keywords:
- ISBN/ISSN: 0733-9364
- URL: http://doi.org/10.1061/JCEMD4.COENG-13893
- Abstract:
Cost estimating in the construction industry is challenging due to the high uncertainty associated with the supply chain, especially after the COVID-19 pandemic. Some research studies have addressed such problems by developing models that predict material cost. In fact, all material can be interconnected and interrelated with lead-lag relationships such that any inflation in one material's price can be associated with inflation in other materials' prices, referred to as transmission of inflation. Despite the latter, none of the existing studies have investigated inflation transmission among all construction materials. This paper fills this knowledge gap. The authors used a multistep research methodology. First, Producer Price Index (PPI) data for 16 construction materials were collected and sorted. Second, the vector autoregression technique was used to model the relationships between each pair of material and subsequently validate the associations using the Granger causality test. Third, network analysis was performed to identify the inflation transmission capacity (out-degree centrality), inflation susceptibility (in-degree centrality), and inflation intermediatory capacity (betweenness centrality) for each material. Finally, modularity-based clustering was conducted to categorize the materials based on their price indices' interconnections and examine inflation transmission path among different sectors of construction-related material. The results show that metals and plastic products are generally the highest transmitters of inflation to other construction material including “Fabricated structural metal products” and “Plastic construction products.” Furthermore, the results show that “Concrete products, ” “Flat glass, ” “Brick and structural clay tile, ” and “Architectural coatings” are also high transmitters of inflation and thus can be key indicators of increase in the overall construction cost. This paper provides the industry stakeholders with leading indicators and early warning signs for the inflated material prices. Contractors and owners can utilize those warning signs to enhance their procurement plans and budgeting decisions.
Nguyen, P H D and Tran, D (2024) Exploring the use of quality control plans for alternative contracting methods in highway projects. Journal of Construction Engineering and Management, 150(05).
Ning, X, Ye, X, Li, H, Rajendra, D and Skitmore, M (2024) Evolutionary game analysis of optimal strategies for construction stakeholders in promoting the adoption of green building technology innovation. Journal of Construction Engineering and Management, 150(05).
Shi, M, Chen, C, Xiao, B and Seo, J (2024) Vision-based detection method for construction site monitoring by integrating data augmentation and semisupervised learning. Journal of Construction Engineering and Management, 150(05).
Tao, Y, Hu, H, Xu, F and Zhang, Z (2024) Work-rest schedule optimization of precast production considering workers' overexertion. Journal of Construction Engineering and Management, 150(05).
Turkoglu, H, Arditi, D and Polat, G (2024) Augmented time-cost trade-off optimization using particle swarm optimization. Journal of Construction Engineering and Management, 150(05).
Wang, H, Xu, S, Cui, D, Xu, H and Luo, H (2024) Information integration of regulation texts and tables for automated construction safety knowledge mapping. Journal of Construction Engineering and Management, 150(05).
Wang, J, Liang, M and Liao, P C (2024) Toward an intuitive device for construction hazard recognition management: Eye fixation-related potentials in reinvestigation of hazard recognition performance prediction. Journal of Construction Engineering and Management, 150(05).
Wang, L, Lee, J, Nimawat, J, Han, K and Gupta, A (2024) Integrated 4D design change management model for construction projects. Journal of Construction Engineering and Management, 150(05).
Wang, S, Hasan, M and Lu, M (2024) Global sensitivity analysis methodology for construction simulation models: Multiple linear regressions versus multilayer perceptions. Journal of Construction Engineering and Management, 150(05).
Zhang, S, Hua, X and Shi, X (2024) Measurement for risk perception ability. Journal of Construction Engineering and Management, 150(05).