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Article
Publication date: 26 May 2022

Hashan Pubudu Perera, B.A.K.S. Perera and Asha Dulanjalie Palihakkara

Coastal land reclamation (CLR) projects have become an effective solution for population growth while creating new market areas and expanding revenue streams. Although a few…

Abstract

Purpose

Coastal land reclamation (CLR) projects have become an effective solution for population growth while creating new market areas and expanding revenue streams. Although a few studies have been conducted on risk management in CLR projects, they had very little prioritisation on financial and economic risk management. Thus, this study aims to manage the financial and economic risks of CLR projects.

Design/methodology/approach

A quantitative research approach consisting of three Delphi rounds was adopted for this study. The findings of this study were analysed and validated using statistical tools.

Findings

This study identified 13 significant financial and economic risk factors in CLR projects, among which poor quality of the sand and soil, delays in making payments, unpredictability of the safety and security of the country and high dredging volumes were the most significant. Most of these risks have to be borne by the client and the contractor. Conducting environmental impact studies, following quality control procedures and increasing social awareness are significant strategies to handle the financial and economic risks of CLR projects.

Originality/value

This study addresses the literature gap pertaining to financial and economic risk management in CLR projects by identifying its overall process, including the identification of significant financial and economic risks based on the severity levels; risk allocation among the client, contractor and consultant; and suitable risk handling strategies for each significant financial and economic risk factor. Moreover, the findings of this study can be used to effectively deal with financial and economic risks in CLR projects while raising society’s awareness.

Details

Construction Innovation , vol. 23 no. 4
Type: Research Article
ISSN: 1471-4175

Keywords

Article
Publication date: 31 January 2022

Asha Dulanjalie Palihakkara and B.A.K.S. Perera

Guaranteed maximum price (GMP) contracts are becoming an increasingly popular contract solution; however, many projects experience higher levels of risk and exceed predetermined…

Abstract

Purpose

Guaranteed maximum price (GMP) contracts are becoming an increasingly popular contract solution; however, many projects experience higher levels of risk and exceed predetermined GMPs, failing to accomplish the main motive behind the concept. Thus, the study identified a risk management process for GMP projects.

Design/methodology/approach

The study adopted a quantitative approach consisting of three Delphi rounds. The collected data were analysed using statistical data analysis tools.

Findings

The study identified 17 highly significant risk factors in GMP projects and determined their levels of severity. Subsequently, risk allocation amongst the client, contractor and consultant and strategies to handle the most significant risk factors were determined. The study identified poorly defined scope and design changes as the most critical risks in GMP projects. Moreover, strategies such as clearly defining the project scope, preparing precise documentation, early involvement of the contractor and using a partnering approach can be deployed to reduce the risk in GMP projects. Each risk has to be assigned to the party who can best manage it, depending on its nature.

Originality/value

The study addresses the literature gap pertaining to risk management of GMP contracts by identifying its overall process, including the identification of significant risks based on the severity levels; risk allocation amongst the client, contractor and consultant; and identification of risk handling techniques suitable for each significant risk factor. The study contributes to the industry by identifying a systematic risk management process to implement GMP projects successfully within the stipulated time, cost and quality.

Details

Smart and Sustainable Built Environment, vol. 11 no. 2
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 19 July 2023

Hasith Chathuranga Victar, B.A.K.S. Perera, Asha Dulanjalie Palihakkara and Kaveesha Gihani Dewagod

The construction industry is shifting towards becoming more circular by reducing waste, reusing building materials and embracing regenerative solutions for energy generation and…

Abstract

Purpose

The construction industry is shifting towards becoming more circular by reducing waste, reusing building materials and embracing regenerative solutions for energy generation and biodiversity conservation. Thus, construction professionals must perform diversified services to achieve a circular built environment (CBE). Implementing resource planning and waste management in CBE has already posed challenges to the quantity surveying profession; thus, quantity surveyors (QSs) should be equipped with new roles and competencies to tackle challenges in achieving a CBE. Hence, this study aimed to investigate the functions and competencies of QSs at the design and building material sourcing stages in achieving a CBE according to 3R principles.

Design/methodology/approach

The research apprehended a qualitative approach, including two expert interview rounds adhering to the Delphi technique with 14 and 11 experts per each round. Manual content analysis was incorporated to analyse the collected data.

Findings

The research findings revealed the important roles and competencies of QSs in achieving a CBE. In addition, essential functions and competencies were categorised according to the 3R principles (reduce, reuse, recycle) to successfully implement CBE during the Design and Building Material Sourcing stages. According to the 3R principles of CBE, cost control, cost planning, feasibility studies, measurement and quantification, risk management, value engineering and innovations and technologies were well-received by most interviewees as essential roles of QSs during the Design and Building Material Sourcing stages. Further, basic/mandatory competencies (personal, interpersonal, professional practice and business skills), economic analysis, BIM management, cost management and risk management are highly regarded by experts for QS as important competencies to achieve CBE.

Originality/value

With new construction trends, QSs must enhance their conventional roles and competencies and search for new skills and competencies. Those skills and competencies could be linked to the CE concept, either directly or indirectly. Since QS holds a prominent place in sustainable construction in CBE, adapting to changes in the construction industry such as CBE is timely for QSs. Further, there is a shortage of literature regarding QSs' roles and competencies in achieving a CBE; thus, this study will contribute by identifying new avenues for QSs in achieving a CBE in the practice and the research.

Details

Smart and Sustainable Built Environment, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2046-6099

Keywords

Article
Publication date: 5 October 2022

H.P.M.N.L.B. Moragane, B.A.K.S. Perera, Asha Dulanjalie Palihakkara and Biyanka Ekanayake

Construction progress monitoring (CPM) is considered a difficult and tedious task in construction projects, which focuses on identifying discrepancies between the as-built product…

Abstract

Purpose

Construction progress monitoring (CPM) is considered a difficult and tedious task in construction projects, which focuses on identifying discrepancies between the as-built product and the as-planned design. Computer vision (CV) technology is applied to automate the CPM process. However, the synergy between the CV and CPM in literature and industry practice is lacking. This study aims to fulfil this research gap.

Design/methodology/approach

A Delphi qualitative approach was used in this study by conducting two interview rounds. The collected data was analysed using manual content analysis.

Findings

This study identified seven stages of CPM; data acquisition, information retrieval, verification, progress estimation and comparison, visualisation of the results and schedule updating. Factors such as higher accuracy in data, less labourious process, efficiency and near real-time access are some of the significant enablers in instigating CV for CPM. Major challenges identified were occlusions and lighting issues in the site images and lack of support from the management. The challenges can be easily overcome by implementing suitable strategies such as familiarisation of the workforce with CV technology and application of CV research for the construction industry to grow with the technology in line with other industries.

Originality/value

This study addresses the gap pertaining to the synergy between the CV in CPM literature and the industry practice. This research contributes by enabling the construction personnel to identify the shortcomings and the opportunities to apply automated technologies concerning each stage in the progress monitoring process.

Details

Construction Innovation , vol. 24 no. 2
Type: Research Article
ISSN: 1471-4175

Keywords

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