The selection of a competent architect is vital to the success of a development. Like in many developed countries, developers in Hong Kong select architects based on a set of criteria. Price is not the only consideration in the process, and decisions rely heavily on subjective judgement. By...

Previous research on building pre-tender cost estimating stresses the importance of giving accurate estimates and minimizing estimating errors. Cost models, especially those mathematical models using mean square error or the like for model training and validation, often treat positive errors...

A great body of knowledge exists on the theory of auctions and competitive bidding that is of potential relevance to construction contract tendering. Most of this, however, contains assumptions – such as perfect information – that are unlikely to be tenable in practice. The aim, therefore,...

Purpose: Legions of projects fail to attain their time and cost objectives due to ineffective coordination. This is often due to a lack of essential learning from projects because of insufficient communication and working experience. One of the key reasons why this occurs is that managers are...

Purpose: The purpose is to examine the risk management processes and methods used in determining project feasibility in the early stages of the property development process by Australia/New Zealand property developers, including Monte Carlo simulation, Bayesian models and real option theory...

The statistical variance of total project cost is usually estimated by means of Monte Carlo simulation on the assumption that exact analytic approaches are too difficult. This paper tests that assumption and shows that, contrary to expectations, the analytic solution is relatively...

The casual nature of employment in the construction industry makes planning human asset requirements a vague exercise. Human resource information systems (HRISs) offer a means of coping with these problems through improvements in the reliability, accuracy and accessibility of the human resources...

This paper describes an empirical study aimed at ranking prequalification criteria on the basis of perceived total benefit-cost to stakeholders. A postal questionnaire was distributed to 100 client and contractor organizations in Australia in 1997. 48 responses were analyzed for scores on 38...