Assessment of transaction costs for construction projects

Abdel-Galil, Emad; Kineber, Ahmed Farouk; Alborkan, Ahmed

doi:10.1080/15623599.2020.1738204

Cited by 11 publications

(12 citation statements)

References 23 publications

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“…The TC economics states that project cost includes both production costs and additional costs, resulting from inter-party transactions (Abdel-Galil et al , 2020). TCs include the costs of preparing the bidding documents, cost estimation, contract preparation and contract administration (Hueskes et al , 2019).…”

Section: Theorymentioning

confidence: 99%

Room for maneuver: practicing competitive dialogue in infrastructure projects in Norway

Shiferaw

Wondimu

Stevik

2023

JOPP

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Purpose This study aims to explore the experiences of using competitive dialogue (CD) as a procurement procedure and the freedom it provides to the contracting parties in Norway. Design/methodology/approach This study opted for qualitative research design. Data were collected from four case projects through document reviews and in-depth interviews with procurement experts and key contract partners of the projects. Findings Results indicate that CD has some room for maneuver that is worth trying. Furthermore, the research identified several measures that can be implemented to use the procedure effectively. Contracting parties that have used the procedure have had various positive experiences. Social implications The findings have implications in improving project outputs, building better trust and cooperation between the contracting parties and better use of public money on projects that have lasting outcomes for the society. Originality/value The authors studied four actual projects that used CD as a procurement procedure and aimed to provide first-hand information on the degree of freedom that it offered to the contracting parties.

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Section: Theorymentioning

confidence: 99%

Room for maneuver: practicing competitive dialogue in infrastructure projects in Norway

Shiferaw

Wondimu

Stevik

2023

JOPP

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“…Processes also facilitate effective communication, reduce misunderstandings and enhance collaboration among project stakeholders. Project end users dictate the functionality and usability of the final product, contributing to a seamless and user-friendly experience (Wangler et al , 2003; Matt, 2014; Derakhshan et al , 2019; Abdel-Galil et al , 2022).…”

Section: Theoretical Background For Scale Development and Hypothesesmentioning

confidence: 99%

The customer perception of project value scale: development and validation

Cândido Da Silva,

Bizarrias,

Penha

et al. 2023

EBR

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Purpose Despite the significant interest from researchers and practitioners, the literature on project value measurement from the perspective of the customer is non-existent. This study aims to address this gap by developing and validating a scale to measure project value through a customer lens called the customer perception of project value scale. Design/methodology/approach A list of items was initially generated based on 762 sample responses through a systematic review of the literature and with the participation of specialists. Exploratory and confirmatory factorial analyses and structural equation modelling were used to develop and validate the scale. Findings The authors formulated a four-dimension scale. The dimensions used to measure the second-order construct are customer centrality, process, delivery and cost-benefit. This was validated using a nomological structure. Research limitations/implications The non-consensual nature of what is value in projects restricts the results of this study to the context of a specific group of stakeholders only, that is, the consumers of the projects. The authors also see limitations in the absence of competing scales, which do not allow the comparison of the instrument with alternative measures. Practical implications This study allows project managers and other professionals to measure a project’s perceived value from the customer’s point of view and manage the improvement of this perception. Originality/value To the best of the authors’ knowledge, this is the first study to propose a scale to measure project value, which advances the literature on project management and value and contributes to academic knowledge and practice by measuring project value from the customer standpoint.

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“…The economic benefits of Blockchain applications in construction from some of the literature we have examined; include reducing transaction costs in the retail industry by 3-7% due to the elimination of transaction intermediaries (Kfoury, 2021). Transaction costs themselves, according to research conducted by ((Abdel-Galil et al, 2022), concluded that at the pre-contract stage of construction projects, the average is around 3-4% of the contract value, and the average value for post-contract transaction costs is around 8-9% of the contract value. The Blockchain-BIM model can guarantee the integrity and origin of BIM data by adding the Blockchain to the current BIM database and facilitating mobile computing and widespread access to BIM information (Zheng et al, 2019).…”

Section: Literature Studymentioning

confidence: 99%

Implementation the Last Indonesian Minister Regulation of 2022 uses SEM-PLS and Blockchain-BIM to Green Cost Efficiency

Eddy Husin,

Priyawan

2023

sace

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Today's threats and crises are about climate change and its consequences. Therefore, the target towards Net Zero Emission (NZE) in 2060 must be an obligation in all countries. A Green Building (GB) is a building that meets Building Technical Standards and has significant measurable performance in saving energy, water, and other resources. Applying GB principles by function and classification at each implementation stage will reduce greenhouse gas emissions. This study aims to analyze the cost of improvements based on GB assessment, where these improvements are the factors affecting the implementation of the Ministry of Public Works and Public Housing (PUPR) regulations from the Indonesian government. The Technical Guidelines for GB Performance, through the Minister of PUPR No.1 of 2022 Republic of Indonesia, is the latest regulation used as the GB concept. Implement Blockchain-BIM and GB using Structural Equation Model - Partial Least Squares (SEM-PLS) for the analysis. By applying Blockchain-BIM to overcome cost constraints, it has been found that it is possible to increase GB's cost-performance ratio in the retail and commercial estate to 3-3.8% at the basic level, while compared with other ratings is higher up to 2.1%, at which the choice of renewable energy model has a great influence.

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Assessment of transaction costs for construction projects

Cited by 11 publications

References 23 publications

Room for maneuver: practicing competitive dialogue in infrastructure projects in Norway

Room for maneuver: practicing competitive dialogue in infrastructure projects in Norway

The customer perception of project value scale: development and validation

Implementation the Last Indonesian Minister Regulation of 2022 uses SEM-PLS and Blockchain-BIM to Green Cost Efficiency

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