2016
DOI: 10.1139/cjce-2016-0223
|View full text |Cite
|
Sign up to set email alerts
|

Developing a cost normalization framework for phase-based performance assessment of construction projects

Abstract: Capital project benchmarking requires an effective cost normalization process to achieve reasonable comparisons of cost-related performance for projects which are executed at different times and locations. Traditionally, cost normalization approaches were developed for ex post facto analysis of project performance and assume that all required information is fully available from a completed project. However, practitioners have expressed the need for cost normalization techniques to evaluate phase-level outcomes… Show more

Help me understand this report

Search citation statements

Order By: Relevance

Paper Sections

Select...
3
1

Citation Types

0
6
0

Year Published

2017
2017
2024
2024

Publication Types

Select...
6
1

Relationship

0
7

Authors

Journals

citations
Cited by 13 publications
(6 citation statements)
references
References 25 publications
0
6
0
Order By: Relevance
“…In order to collect and record data for benchmarking across the healthcare sector, project costs from different times and locations need to be normalized to a comparable scale using different benchmarking frameworks developed through previous research. Previous studies on benchmarking have developed a unique framework for normalizing the overall project cost [8] and the project cost through different life-cycle phases [9]. Each framework developed a normalization approach for the program's overall cost.…”
Section: Literature Review-selection Of Indicesmentioning
confidence: 99%
See 3 more Smart Citations
“…In order to collect and record data for benchmarking across the healthcare sector, project costs from different times and locations need to be normalized to a comparable scale using different benchmarking frameworks developed through previous research. Previous studies on benchmarking have developed a unique framework for normalizing the overall project cost [8] and the project cost through different life-cycle phases [9]. Each framework developed a normalization approach for the program's overall cost.…”
Section: Literature Review-selection Of Indicesmentioning
confidence: 99%
“…Furthermore, according to [16,17], construction costs for HCFs largely depend upon local conditions such as material/equipment costs, labor, and suppliers/contractors. The authors of [9] define construction costs as "all cost elements associated and included within the project phases." Based on these findings, a benchmarking framework for healthcare projects measuring performance at the phase level has been developed by collecting data across all five construction phases-programming, engineering/design, procurement, construction, and commissioning of a project [18].…”
Section: Literature Review-selection Of Indicesmentioning
confidence: 99%
See 2 more Smart Citations
“…According toChang et al (2001), project phases can be delineated into five categories: pre-project planning, detailed design, procurement (material management), construction, and start-up and commissioning. For this study, the project lifecycle is grouped into five common project phases, similar to other classifications for industrial construction projects such as that proposed byChoi et al (2016): initiation, planning & design, procurement, construction, and commissioning and start-up.…”
mentioning
confidence: 99%