- -

Who Risks and Wins? - Simulated Cost Variance in Sustainable Construction Projects

RiuNet: Repositorio Institucional de la Universidad Politécnica de Valencia

Compartir/Enviar a

Citas

Estadísticas

  • Estadisticas de Uso

Who Risks and Wins? - Simulated Cost Variance in Sustainable Construction Projects

Mostrar el registro completo del ítem

Górecki, J.; Díaz-Madroñero Boluda, FM. (2020). Who Risks and Wins? - Simulated Cost Variance in Sustainable Construction Projects. Sustainability. 12(8):1-31. https://doi.org/10.3390/su12083370

Por favor, use este identificador para citar o enlazar este ítem: http://hdl.handle.net/10251/172516

Ficheros en el ítem

Metadatos del ítem

Título: Who Risks and Wins? - Simulated Cost Variance in Sustainable Construction Projects
Autor: Górecki, Jaroslaw Díaz-Madroñero Boluda, Francisco Manuel
Entidad UPV: Universitat Politècnica de València. Departamento de Organización de Empresas - Departament d'Organització d'Empreses
Fecha difusión:
Resumen:
[EN] More and more construction projects are closed before they ever start. Among the most significant reasons for project failures is cost risk. Construction companies have many problems with reliable cost management. ...[+]
Palabras clave: Cost risk , Construction project , Contingency , Monte Carlo simulations
Derechos de uso: Reconocimiento (by)
Fuente:
Sustainability. (eissn: 2071-1050 )
DOI: 10.3390/su12083370
Editorial:
MDPI AG
Versión del editor: https://doi.org/10.3390/su12083370
Agradecimientos:
Statutory research at the UTP University of Science and Technology, Bydgoszcz, Poland.
Tipo: Artículo

References

Wong, J. M. W., Thomas Ng, S., & Chan, A. P. C. (2010). Strategic planning for the sustainable development of the construction industry in Hong Kong. Habitat International, 34(2), 256-263. doi:10.1016/j.habitatint.2009.10.002

Sobotka, A. (2017). Innovative solutions in engineering of construction projects. Procedia Engineering, 208, 160-165. doi:10.1016/j.proeng.2017.11.034

Kaplinski, O. (2013). Risk Management of Construction Works by Means of the Utility Theory: A Case Study. Procedia Engineering, 57, 533-539. doi:10.1016/j.proeng.2013.04.068 [+]
Wong, J. M. W., Thomas Ng, S., & Chan, A. P. C. (2010). Strategic planning for the sustainable development of the construction industry in Hong Kong. Habitat International, 34(2), 256-263. doi:10.1016/j.habitatint.2009.10.002

Sobotka, A. (2017). Innovative solutions in engineering of construction projects. Procedia Engineering, 208, 160-165. doi:10.1016/j.proeng.2017.11.034

Kaplinski, O. (2013). Risk Management of Construction Works by Means of the Utility Theory: A Case Study. Procedia Engineering, 57, 533-539. doi:10.1016/j.proeng.2013.04.068

Diekmann, J. E., & Featherman, W. D. (1998). Assessing Cost Uncertainty: Lessons from Environmental Restoration Projects. Journal of Construction Engineering and Management, 124(6), 445-451. doi:10.1061/(asce)0733-9364(1998)124:6(445)

Špačková, O., Novotná, E., Šejnoha, M., & Šejnoha, J. (2013). Probabilistic models for tunnel construction risk assessment. Advances in Engineering Software, 62-63, 72-84. doi:10.1016/j.advengsoft.2013.04.002

Wang, W.-C., Wang, S.-H., Tsui, Y.-K., & Hsu, C.-H. (2012). A factor-based probabilistic cost model to support bid-price estimation. Expert Systems with Applications, 39(5), 5358-5366. doi:10.1016/j.eswa.2011.11.049

Alwan, Z., Jones, P., & Holgate, P. (2017). Strategic sustainable development in the UK construction industry, through the framework for strategic sustainable development, using Building Information Modelling. Journal of Cleaner Production, 140, 349-358. doi:10.1016/j.jclepro.2015.12.085

Chen, Y., Okudan, G. E., & Riley, D. R. (2010). Sustainable performance criteria for construction method selection in concrete buildings. Automation in Construction, 19(2), 235-244. doi:10.1016/j.autcon.2009.10.004

Opoku, D.-G. J., Ayarkwa, J., & Agyekum, K. (2019). Barriers to environmental sustainability of construction projects. Smart and Sustainable Built Environment, 8(4), 292-306. doi:10.1108/sasbe-08-2018-0040

Freire-Guerrero, A., Alba-Rodríguez, M. D., & Marrero, M. (2019). A budget for the ecological footprint of buildings is possible: A case study using the dwelling construction cost database of Andalusia. Sustainable Cities and Society, 51, 101737. doi:10.1016/j.scs.2019.101737

Cheng, W., Sodagar, B., & Sun, F. (2017). Comparative analysis of environmental performance of an office building using BREEAM and GBL. International Journal of Sustainable Development and Planning, 12(03), 528-540. doi:10.2495/sdp-v12-n3-528-540

Wang, G. B., He, G. Y., & Bian, L. (2011). Sustainable Construction Project under Lean Construction Theory. Advanced Materials Research, 250-253, 3345-3349. doi:10.4028/www.scientific.net/amr.250-253.3345

Zhong, Z. Y., & Chen, Y. G. (2011). Principles of Sustainable Construction Project Management Based on Lean Construction. Advanced Materials Research, 225-226, 766-770. doi:10.4028/www.scientific.net/amr.225-226.766

Rafindadi, A. D., Mikić, M., Kovačić, I., & Cekić, Z. (2014). Global Perception of Sustainable Construction Project Risks. Procedia - Social and Behavioral Sciences, 119, 456-465. doi:10.1016/j.sbspro.2014.03.051

Solís-Guzmán, J., Rivero-Camacho, C., Alba-Rodríguez, D., & Martínez-Rocamora, A. (2018). Carbon Footprint Estimation Tool for Residential Buildings for Non-Specialized Users: OERCO2 Project. Sustainability, 10(5), 1359. doi:10.3390/su10051359

Baldry, D. (1998). The evaluation of risk management in public sector capital projects. International Journal of Project Management, 16(1), 35-41. doi:10.1016/s0263-7863(97)00015-x

Ranasinghe, M. (1994). Contingency allocation and management for building projects. Construction Management and Economics, 12(3), 233-243. doi:10.1080/01446199400000031

Plebankiewicz, E., Zima, K., & Wieczorek, D. (2016). Life Cycle Cost Modelling of Buildings with Consideration of the Risk. Archives of Civil Engineering, 62(2), 149-166. doi:10.1515/ace-2015-0071

Heralova, R. S. (2014). Life Cycle Cost Optimization Within Decision Making on Alternative Designs of Public Buildings. Procedia Engineering, 85, 454-463. doi:10.1016/j.proeng.2014.10.572

Hwang, B.-G., Shan, M., Phua, H., & Chi, S. (2017). An Exploratory Analysis of Risks in Green Residential Building Construction Projects: The Case of Singapore. Sustainability, 9(7), 1116. doi:10.3390/su9071116

Lee, J. K., Han, S. H., Jang, W., & Jung, W. (2017). «Win-win strategy» for sustainable relationship between general contractors and subcontractors in international construction projects. KSCE Journal of Civil Engineering, 22(2), 428-439. doi:10.1007/s12205-017-1613-7

Artto, K. A., Lehtonen, J.-M., & Saranen, J. (2001). Managing projects front-end: incorporating a strategic early view to project management with simulation. International Journal of Project Management, 19(5), 255-264. doi:10.1016/s0263-7863(99)00082-4

Walȩdzik, K., & Mańdziuk, J. (2018). Applying hybrid Monte Carlo Tree Search methods to Risk-Aware Project Scheduling Problem. Information Sciences, 460-461, 450-468. doi:10.1016/j.ins.2017.08.049

Van Slyke, R. M. (1963). Letter to the Editor—Monte Carlo Methods and the PERT Problem. Operations Research, 11(5), 839-860. doi:10.1287/opre.11.5.839

Chau, K. W. (1995). Monte Carlo simulation of construction costs using subjective data. Construction Management and Economics, 13(5), 369-383. doi:10.1080/01446199500000042

Beeston *, D. (1986). Combining risks in estimating. Construction Management and Economics, 4(1), 75-79. doi:10.1080/01446198600000005

Górecki, J., & Płoszaj, E. (2019). Cost risk of construction of small hydroelectric power plants. MATEC Web of Conferences, 262, 07004. doi:10.1051/matecconf/201926207004

Zhang, H. Y., & Yang, G. B. (2011). Review of Study on Risk Management for the Construction Project. Advanced Materials Research, 243-249, 6404-6409. doi:10.4028/www.scientific.net/amr.243-249.6404

Xia, N., Zou, P. X. W., Griffin, M. A., Wang, X., & Zhong, R. (2018). Towards integrating construction risk management and stakeholder management: A systematic literature review and future research agendas. International Journal of Project Management, 36(5), 701-715. doi:10.1016/j.ijproman.2018.03.006

Siraj, N. B., & Fayek, A. R. (2019). Risk Identification and Common Risks in Construction: Literature Review and Content Analysis. Journal of Construction Engineering and Management, 145(9), 03119004. doi:10.1061/(asce)co.1943-7862.0001685

Díaz-Madroñero, M., Mula, J., & Peidro, D. (2014). A review of discrete-time optimization models for tactical production planning. International Journal of Production Research, 52(17), 5171-5205. doi:10.1080/00207543.2014.899721

Díaz-Madroñero, M., Peidro, D., & Mula, J. (2015). A review of tactical optimization models for integrated production and transport routing planning decisions. Computers & Industrial Engineering, 88, 518-535. doi:10.1016/j.cie.2015.06.010

Li, B., Akintoye, A., Edwards, P. J., & Hardcastle, C. (2005). Perceptions of positive and negative factors influencing the attractiveness of PPP/PFI procurement for construction projects in the UK. Engineering, Construction and Architectural Management, 12(2), 125-148. doi:10.1108/09699980510584485

Zou, P. X. W., Zhang, G., & Wang, J. (2007). Understanding the key risks in construction projects in China. International Journal of Project Management, 25(6), 601-614. doi:10.1016/j.ijproman.2007.03.001

Mohamed, F. D. (2012). Integrating Risk Assessment in Planning for Sustainable Infrastructure Projects. ICSDEC 2012. doi:10.1061/9780784412688.042

Taylan, O., Bafail, A. O., Abdulaal, R. M. S., & Kabli, M. R. (2014). Construction projects selection and risk assessment by fuzzy AHP and fuzzy TOPSIS methodologies. Applied Soft Computing, 17, 105-116. doi:10.1016/j.asoc.2014.01.003

Chou, J.-S., & Le, T.-S. (2014). Probabilistic multiobjective optimization of sustainable engineering design. KSCE Journal of Civil Engineering, 18(4), 853-864. doi:10.1007/s12205-014-0373-x

Dziadosz, A., Tomczyk, A., & Kapliński, O. (2015). Financial Risk Estimation in Construction Contracts. Procedia Engineering, 122, 120-128. doi:10.1016/j.proeng.2015.10.015

Lee, S., & Kim, K. (2015). Collar Option Model for Managing the Cost Overrun Caused by Change Orders. Sustainability, 7(8), 10649-10663. doi:10.3390/su70810649

Kankhva, V. (2016). Methodic Approaches to Cost Evaluation of Innovation Projects in Underground Development. Procedia Engineering, 165, 1305-1309. doi:10.1016/j.proeng.2016.11.855

Badi, S. M., & Pryke, S. (2016). Assessing the impact of risk allocation on sustainable energy innovation (SEI). International Journal of Managing Projects in Business, 9(2), 259-281. doi:10.1108/ijmpb-10-2015-0103

Ayub, B., Thaheem, M. J., & Din, Z. ud. (2016). Dynamic Management of Cost Contingency: Impact of KPIs and Risk Perception. Procedia Engineering, 145, 82-87. doi:10.1016/j.proeng.2016.04.021

Ali, Z., Zhu, F., & Hussain, S. (2018). Risk Assessment of Ex-Post Transaction Cost in Construction Projects Using Structural Equation Modeling. Sustainability, 10(11), 4017. doi:10.3390/su10114017

Baudrit, C., Taillandier, F., Tran, T. T. P., & Breysse, D. (2018). Uncertainty Processing and Risk Monitoring in Construction Projects Using Hierarchical Probabilistic Relational Models. Computer-Aided Civil and Infrastructure Engineering, 34(2), 97-115. doi:10.1111/mice.12391

Flyvbjerg, B., Ansar, A., Budzier, A., Buhl, S., Cantarelli, C., Garbuio, M., … van Wee, B. (2018). Five things you should know about cost overrun. Transportation Research Part A: Policy and Practice, 118, 174-190. doi:10.1016/j.tra.2018.07.013

Cantarelli, C. C., van Wee, B., Molin, E. J. E., & Flyvbjerg, B. (2012). Different cost performance: different determinants? Transport Policy, 22, 88-95. doi:10.1016/j.tranpol.2012.04.002

Cantarelli, C. C., Molin, E. J. E., van Wee, B., & Flyvbjerg, B. (2012). Characteristics of cost overruns for Dutch transport infrastructure projects and the importance of the decision to build and project phases. Transport Policy, 22, 49-56. doi:10.1016/j.tranpol.2012.04.001

Skamris, M. K., & Flyvbjerg, B. (1997). Inaccuracy of traffic forecasts and cost estimates on large transport projects. Transport Policy, 4(3), 141-146. doi:10.1016/s0967-070x(97)00007-3

Flyvbjerg, B., Skamris holm, M. K., & Buhl, S. L. (2003). How common and how large are cost overruns in transport infrastructure projects? Transport Reviews, 23(1), 71-88. doi:10.1080/01441640309904

Plebankiewicz, E. (2018). Model of Predicting Cost Overrun in Construction Projects. Sustainability, 10(12), 4387. doi:10.3390/su10124387

Cavalieri, M., Cristaudo, R., & Guccio, C. (2019). On the magnitude of cost overruns throughout the project life-cycle: An assessment for the Italian transport infrastructure projects. Transport Policy, 79, 21-36. doi:10.1016/j.tranpol.2019.04.001

Li, S., Lu, Y., Kua, H. W., & Chang, R. (2020). The economics of green buildings: A life cycle cost analysis of non-residential buildings in tropic climates. Journal of Cleaner Production, 252, 119771. doi:10.1016/j.jclepro.2019.119771

Švajlenka, J., & Kozlovská, M. (2020). Evaluation of the efficiency and sustainability of timber-based construction. Journal of Cleaner Production, 259, 120835. doi:10.1016/j.jclepro.2020.120835

Švajlenka, J., Kozlovská, M., & Pošiváková, T. (2018). Analysis of Selected Building Constructions Used in Industrial Construction in Terms of Sustainability Benefits. Sustainability, 10(12), 4394. doi:10.3390/su10124394

Lei, Z., Tang, W., Duffield, C., Zhang, L., Hui, F., & You, R. (2018). Qualitative Analysis of the Occupational Health and Safety Performance of Chinese International Construction Projects. Sustainability, 10(12), 4344. doi:10.3390/su10124344

Yang, Y., Tang, W., Shen, W., & Wang, T. (2019). Enhancing Risk Management by Partnering in International EPC Projects: Perspective from Evolutionary Game in Chinese Construction Companies. Sustainability, 11(19), 5332. doi:10.3390/su11195332

Kapelko, M., Oude Lansink, A., & Stefanou, S. E. (2014). Assessing dynamic inefficiency of the Spanish construction sector pre- and post-financial crisis. European Journal of Operational Research, 237(1), 349-357. doi:10.1016/j.ejor.2014.01.047

Sfakianaki, E., Iliadis, T., & Zafeiris, E. (2015). Crisis management under an economic recession in construction: the Greek case. International Journal of Management and Decision Making, 14(4), 373. doi:10.1504/ijmdm.2015.074015

[-]

recommendations

 

Este ítem aparece en la(s) siguiente(s) colección(ones)

Mostrar el registro completo del ítem