Xiao, H and Proverbs, D G (2003) Cost certainty and time certainty: An international investigation. In: Greenwood, D J (ed.) Proceedings of 19th Annual ARCOM Conference, 3-5 September 2003, Brighton, UK.
Abstract
Cost certainty and time certainty are major concerns to both clients and contractors, as they have a direct impact on resources. An international study of contractors' cost certainty and time certainty is presented. Based on the performance and practice of contractors in Japan, the UK and the US, the multiple regression analysis reveals cost certainty to be influenced by time certainty and its perceived importance, annual leave, and past performance. Time certainty is found to be influenced by cost certainty and the perceived importance of cost, number of defects and past performance. Findings indicate that cost certainty and time certainty are closely related and interact with each other. An improvement in one aspect can lead to the enhancement of the other, and vice-versa. Contractors are advised to adapt an integrated approach, to emphasize cost and time certainty and to reduce defects in order to improve their performance in cost certainty and time certainty and strengthen their competitiveness in the market.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | contractor performance; cost certainty; international; multiple regression; time certainty |
| Index terms: | Japan, integrated approach, multiple regression analysis, multiple-regression, investigation, competitiveness, contractor performance |
| Subjects: | statistical analysis, Geography, data collection methods, contractual arrangements, contract management, market analysis |
| Topics: | Geographical Context, Research Practice, Contract Administration, Procurement |
| Descriptive scope: | 3 PCA |
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