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Study on the Whole Process Risk Management System of Power Grid Construction Projects  [cached]
Zizhi Xu,Jinpeng Liu,Xin Lu
Asian Social Science , 2012, DOI: 10.5539/ass.v8n8p69
Abstract: With the rapid development of economy in China, the importance of power grid construction projects is increasingly highlighted and the environment and risks encountered by power grid construction projects also become more and more complicated. In order to ensure that perfect social and economy benefits of power grid construction projects are realized, it is necessary to practically enhance the risk management level of power grid construction projects. Based on an overall analysis of the features of objectivity, uncertainty and change of risks in power grid construction projects, this article begins with the whole process of project construction, conducts a systematic study on the whole process risk management system of power grid construction projects from the three perspectives of whole process risk identification of power grid construction projects, whole process risk evaluation of power grid construction projects and whole process risk management measures of power grid construction projects and provides reference for management personnel of power grid construction projects in enhancing their risk management level.
Study on Construction Cost of Construction Projects  [cached]
Hui Li
Asian Social Science , 2009, DOI: 10.5539/ass.v5n8p144
Abstract: China is a country which has the largest investment amount in engineering construction in the world and which has the most construction projects. It is a significant subject for the extensive engineering managers to have effective engineering cost management in construction project management and to reasonably determine and control construction cost on the condition of ensuring construction quality and time limit. On the basis of the status quo of losing control in Chinese construction investment and of separation of technique and economy in engineering, and guided by basic theories of construction cost control, the author discusses control methods and application of construction cost, sets forth existing issues in construction cost control and influences of these issues on determination and control of construction cost, puts forward that construction cost control should reflect cost control of the entire construction process at the earlier stage of construction, and then introduces some procedures and methods of applying value project cost control at all stages of construction projects.
Cost diviation in road construction projects: The case of Palestine  [cached]
Ibrahim Mahamid,Amund Bruland
Australasian Journal of Construction Economics and Building , 2012,
Abstract: This paper investigates the statistical relationship between actual and estimated cost of road construction projects using data from road construction projects awarded in the West Bank in Palestine over the years 2004–2008. The study is based on a sample of 169 road construction projects. Based on this data, regression models are developed. The findings reveal that 100% of projects suffer from cost diverge, it is found that 76% of projects have cost under estimation while 24% have cost over estimation. The discrepancy between estimated and actual cost has an average of 14.6%, ranging from -39% to 98%. The relation between the project size (length and width) and the cost diverge is discussed.
Controlling Cost Overrun Factors in Construction Projects in Malaysia  [cached]
Ade Asmi Abdul Azis,Aftab Hameed Memon,Ismail Abdul Rahman,Ahmad Tarmizi Abd. Karim
Research Journal of Applied Sciences, Engineering and Technology , 2013,
Abstract: Poor cost performance in construction project is a common problem worldwide resulting in significant amount of cost overrun. This led us to explore the major contributors of cost overrun and propose mitigation measures to control cost overrun factors. Since, there were very few studies on cost issues in construction projects in Malaysia, hence this study was carried out in Malaysia using qualitative research method using semi-structured interview with experienced personnel’s involved in handling construction projects. A total of 21 respondents from client, consultant and contractor organizations were interviewed and requested to evaluate the eight (8) categories of cost overrun factors determined from the author’s previous work. Out of the eight categories of cost overrun factors, the respondents had ranked “contractor's site management” as most severe contributor of cost overrun and followed by “information and communication” category while the least severe category is financial management. Besides that the respondents are also requested to propose and classify mitigation measures for cost control according to suitable implementation strategies. This resulted in 15 proposals on mitigation measures and these were classified in three implementation strategies. The results indicated that among these 15 mitigation measures, five measures are classified as pro-active strategy and four measures are classified as organizational strategy. While other six measures are classified as fluid measures which can be adopted in more than one strategy.
Insights from Stakeholders of Five Residential Smart Grid Pilot Projects in the Netherlands  [PDF]
Uchechi Obinna, Peter Joore, Linda Wauben, Angele Reinders
Smart Grid and Renewable Energy (SGRE) , 2016, DOI: 10.4236/sgre.2016.71001
Abstract: This paper presents insights and perceptions of stakeholders involved in the development and implementation of residential smart grid pilot projects in the Netherlands, adding to the limited information that is currently available in this area, while expectations about the potential benefits of smart grids are high. The main research questions of this study are: (1) How have some typical residential smart grid pilots in the Netherlands been set up? (2) Which stakeholders are involved in these pilots in the year 2014? (3) What are their views and perceptions with regards to the development and performance of residential smart grids? and (4) What do these stakeholders think about the products and services that may support an active participation of end-users in a smart energy home? To obtain information, we evaluated five residential smart grid pilot projects where smart energy products and services have been implemented. Semi-structured interviews were conducted with nine stakeholders involved in these projects. The Strategic Niche management framework was used to identify the present state of development and implementation of smart grid pilots. Our study shows that in the Netherlands residential smart grid pilots have been set-up and funded mainly by the government and grid operators. Other stakeholders involved include energy suppliers, end-users (as an energy cooperative or individual household), product and service suppliers, Information and Communication Technology (ICT) companies, and knowledge institutes. Currently a technology-push approach exists which barely includes an integrated approach towards smart grids products and services development. To the opinion of the interviewed stakeholders, current products and services offered in residential smart grid pilots are functionally attractive, but often too technically complex for the understanding of end-users. Hence, the general view held by respondents is that end-users should be the starting point in the development of smart grid products and services at the residential areas.
Magnitude of Construction Cost and Schedule Overruns in Public Work Projects  [PDF]
Pramen P. Shrestha,Leslie A. Burns,David R. Shields
Journal of Construction Engineering , 2013, DOI: 10.1155/2013/935978
Abstract: This study analyzed 363 Clark County Department of Public Works (CCDPW) projects to determine construction cost and schedule overruns in various types and sizes of the projects. The sample projects were constructed from 1991 to 2008, with a total construction cost of $1.85 billion, equivalent to 2012 cost. A one-factor ANOVA test was conducted to determine whether construction cost and schedule overruns significantly varied based on types and sizes of the projects. The study showed that large, long-duration projects had significantly higher cost and schedule overruns than smaller, short-duration projects. 1. Introduction Consistent cost and time overruns of public works projects are not the best use of taxpayer money. In the current economic downturn where tax revenues are lagging, they are particularly detrimental. In the public sector, money spent on project change orders and increased construction time reduces the number and size of the projects that can be completed during any given fiscal year. Various reasons for construction cost and schedule overruns in any project include design error, inadequate scope, weather, project changes, and underestimating the time needed to complete the project. Items omitted from the engineer’s estimate of the projects due to design errors or inadequate scope frequently result in change orders, which increase cost as well as the time of delivery. Underestimating the construction time is detrimental because another important project may be delayed from going to bid until the current project is completed. Many public projects are extensions of a previous project, and inaccuracies in estimating project cost and construction time can result in improper sequencing of related projects or phasing within projects, thus delaying much needed improvements. Decisions on which projects are to put out for bids are based both on the need for improvement in a current facility or construction of a new facility, which is certainly the most important consideration, and on the engineer’s estimated cost and construction time. Underestimating a project’s cost and time is not in the public’s best interest, particularly in an urban area with a rate of growth such as the one recently experienced in Clark County, Nevada. Therefore, this study determined the magnitude of construction cost and schedule overruns in public projects of Clark County, Nevada, so that necessary actions can be taken to control these overruns in future projects. Further, the study investigated whether the magnitude of construction cost and schedule overruns varies
What Causes Cost Overrun in Transport Infrastructure Projects?"  [PDF]
Bent Flyvbjerg,Mette K. Skamris Holm,S?ren L. Buhl
Quantitative Finance , 2013, DOI: 10.1080/0144164032000080494a
Abstract: This article presents results from the first statistically significant study of causes of cost escalation in transport infrastructure projects. The study is based on a sample of 258 rail, bridge, tunnel and road projects worth US$90 billion. The focus is on the dependence of cost escalation on (1) length of project implementation phase, (2) size of project and (3) type of project ownership. First, it is found with very high statistical significance that cost escalation is strongly dependent on length of implementation phase. The policy implications are clear: Decision makers and planners should be highly concerned about delays and long implementation phases because they translate into risks of substantial cost escalations. Second, it is found that projects have grown larger over time and that for bridges and tunnels larger projects have larger percentage cost escalations. Finally, by comparing cost escalation for three types of project ownership--private, state-owned enterprise and other public ownership--it is shown that the oft-seen claim that public ownership is problematic and private ownership effective in curbing cost escalation is an oversimplification. Type of accountability appears to matter more to cost escalation than type of ownership.
Significant Factors Causing Cost Overruns in Large Construction Projects in Malaysia  [PDF]
Ismail Abdul Rahman,Aftab Hameed Memon,Ahmad Tarmizi Abd. Karim
Journal of Applied Sciences , 2013,
Abstract: Once a construction projects fails in achieving effective cost performance, it will result to cost overrun. These overruns are caused from several factors which are very important to uncover for improving the cost performance. In Malaysia, not many research works have been carried out on studying cost performance factors. Hence, this study was conducted to identify the significant factors causing cost overrun in large construction projects in Malaysia. Questionnaire for the survey was developed based on 35 common factors of cost overrun identified from literature work. These factors were grouped in 7 categories and validated by interviewing five experienced personnel of construction industry. The feedback of from the survey resulted in receiving 262 sets of completed valid responses against 400 questionnaires distributed amongst contractors, consultants and clients involved in large construction projects. The data from the questionnaire was analyzed statistically. Relative importance index method was used for hierarchal assessment of factors and found that the top 3 most significant factors of cost overrun are fluctuation of prices of material, cash flow and financial difficulties faced by contractors and poor site management and supervision. These factors belong to two categories i.e., contractor’s site management and financial management category, thus improvements in these categories are paramount for controlling cost overrun in construction projects.
Perceptions of Time, Cost and Quality Management on Building Projects  [cached]
P.A Bowen,K.S Cattel,K.A Hall,P.J Edwards
Australasian Journal of Construction Economics and Building , 2012,
Abstract: This paper examines the relative intrinsic importance of the effective management of projecttime, cost and quality in the attainment of client objectives. The findings from a questionnairesurvey are presented. The survey explored the perceptions of South Africanclients concerning their objectives and the project time, cost and quality management associatedwith building procurement systems in South Africa. The findings indicate thatmis-perceptions exist between clients, contractors and building professionals regardingthe time, cost and quality management associated with building projects, and the contributionthis makes to the attainment of client objectives.
Time and Cost Performance in Construction Projects in Southern and Central Regions of Peninsular Malaysia
Aftab Hameed Memon,Ismail Abdul Rahman,Ade Asmi Abdul Azis
International Journal of Advances in Applied Sciences , 2012, DOI: 10.11591/ijaas.v1i1.537
Abstract: Time and cost performance is the fundamental criteria for success of any project. Unfortunately construction industry in Malaysia has been regarded as industry facing poor performance leading to failure in achieving effective time and cost performance. As a consequence most of the project face huge amount of time and cost overrun. This study assessed the time and cost performance of construction projects in Malaysia using structured questionnaire survey. The findings of study revealed that 92% of construction projects were overrun and only 8% of project could achieve completion within contract duration. The amount of time overrun was in between 5-10% as agreed by respondents. In terms of cost performance only 11% of respondents mentioned that normally their projects are finished within the budgeted cost while 89% of respondents agreed that their projects were facing the problem of cost overrun with average overrun at 5-10% of contract price. The major contributors of this poor performance include design and documentation issues, financial resource management and project management and contract administration issues. Further, qualitative study was carried out using semi-structured interviews with the experience personnel involving in managing construction project which resulted in developing 13 mitigation measure to improve time performance and 15 mitigation measure to improve cost performance in construction project. This study will help the practitioners to implement the mitigation measure at planning stage in order to achieve successful construction projects.
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