Tan, Y; Langston, C; Wu, M and Ochoa, J J (2015) Grey forecasting of construction demand in Hong Kong over the next ten years. International Journal of Construction Management, 15(3), pp. 219-228. ISSN 1562-3599
Abstract
The Hong Kong construction industry since 1997 has experienced a difficult time in regard to construction output until recently. The future of the local construction industry remains uncertain. Forecasting of future development would be attractive to parties in the industry. Based on past data of the local construction industry, a grey forecasting model is developed to predict the annual growth of construction demand for Hong Kong over the next ten years. With the implementation of ten large infrastructure projects and further collaboration with the Pearl River Delta region, there will be many potential opportunities for the local industry, especially in the transportation sector. The data and the forecast are useful reference for clients, contractors and other industry participants to formulate their short-term and long-term strategic planning.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction demand; forecasting; grey model; Hong Kong |
| Index terms: | construction demand, strategic planning, construction industry, implementation, Hong Kong, forecasting, transportation sector, collaboration, construction output, large infrastructure project |
| Subjects: | contractual arrangements, prediction and forecasting, operations management, industry analysis, market analysis, Geography, infrastructure engineering, management |
| Topics: | Organizational Design, Procurement, Engineering Principles, Research Practice, Project Management, Geographical Context, Business Strategy |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here