The paper describes three analyses to examine differences in construction company POT profitability between (1) different financial years, and (2) different sizes of companies. In the first analysis, the aggregated profitability of a sample of 80 UK general contractors was found not to differ...

One of the most important aspects of the construction procurement process is the management of client (owner) expenditure. For client expenditure management, risk analysis demands good estimates of the range of possible expenditures likely to occur and their probability of occurrence, while risk...

One of the factors affecting the success or otherwise of the procurement process is the quality of its financial management. In many cases, particularly in the early stages of a project, this is dependent on the accuracy of forecasts of future costs. For risk management purposes, what is most...

The aim of construction price forecasting is to provide an estimate of the market price of construction contracts. The estimates may be for individual or groups of past, present or future projects entering the contract market. They are made by a variety of interested parties ranging from...

Analysis of the difference between the lowest and second lowest bids, or bid-spread, in a ‘lowest wins’ auction is of possible value in strategic bidding; providing an indication of mistakes in bids; determining a justifiable amount of bid security; and a means of providing some insight into...

A Multivariate Discriminant Analysis is described, aimed at predicting the direction of changes in the Hong Kong tender price index by utilising the patterns of change in eight leading economic indicators. Two discriminant functions are derived which distinguish between ‘upward’,...

Previous researches have suggested that there is only little improvement in the accuracy of building forecasts as design develops. It has been criticized that established conventional forecasting methods also lack measures of their own performance. An early stage price forecasting model, the...

The financial management of the construction procurement process is dependent upon on the performance of the managers involved. This paper describes an analysis of pre-tender building price forecasts (estimates) made by a Hong Kong consulting organisation for a series of 89 building projects...

The construction industry is one of major strategic importance. Its level of productivity has a significant effect on national economic growth. The analysis of published census/biannual surveys of construction by the Department of Statistics of Malaysia shows that Malaysia managed to achieve...

Productivity is basic statistical information for many international comparisons and country performance assessments. This study estimates the construction labour productivity of 79 selected economies. The real (purchasing power parities converted) and nominal construction expenditure from the...