Marinelli, M; Petroutsatou, K; Fragkakis, N and Lambropoulos, S (2018) Rethinking new public infrastructure value for money in recession times: The Greek case. International Journal of Construction Management, 18(4), pp. 331-342. ISSN 1562-3599
Abstract
The recent financial crisis in Europe has led to large reduction of public investment and urges the recession-hit countries to revisit their approach to new infrastructure projects initiation in light of the current budgetary constraints. This paper reviews the methodologies and practices implemented worldwide with the aim to achieve cost efficiency in infrastructure development and critically discusses the current approach to planning and designing of infrastructure projects in Greece. A number of transport infrastructure projects under tendering or construction, including urban express roads, urban development projects, cruise port, urban rail and airport, are presented and analyzed. The authors highlight the critical role of the implementation of appropriate tools and informed decision-making in design and construction and present alternative solutions of enhanced cost efficiency for the required value for money to be achieved in each of the above projects.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost efficiency; Greece; infrastructure design; infrastructure planning; recession; value for money |
| Index terms: | methodology, decision-making, value-for-money, cost efficiency, infrastructure development, Greece, transport infrastructure, design and construction, urban development, infrastructure planning, implementation, infrastructure project, public infrastructure, Europe, recession |
| Subjects: | strategic project management, economic analysis, contractual arrangements, infrastructure and transport systems, decision analysis, urban design, evaluation, infrastructure engineering, Geography, research methods, economics, physical geography and landforms |
| Topics: | Urban Studies, Value Management, Cost Management, Business Strategy, Engineering Principles, Research Practice, Project Management, Geographical Context, Risk Management, Procurement |
| Descriptive scope: | 3 PCT |
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