Eccles, S D (2000) Quantitative evaluation of contract strategies for construction. PhD thesis, University of Sheffield, UK.
Abstract
A contract strategy is, in broad terms, the legal-managerial framework adopted by the client of a construction project for carrying out that project. There is a view that projects are often procured using inappropriate contract strategies and that the associated financial consequences are significant. Following a review of previous research, it was concluded that there was scope to develop a decision methodology that utilised quantitative techniques. A prototype model was developed to facilitate the application of the quantitative approach. The model computes probabilistic cost and time measures of a project's performance for each contract strategy that is evaluated. Several industrialists were invited to evaluate the principles of the quantitative approach. From the fourteen industrialists interviewed, six simulated an application of the quantitative approach. Despite initial scepticism, the potential value of the quantitative approach was recognised. The six industrialists who performed example applications of the quantitative approach indicated that, in their view, the approach was workable. In response to the findings of the empirical study, an upgraded version of the model was designed. This version also addressed several intellectual compromises which had been made in the development of the prototype model. The refined model is applied to two example projects in order to demonstrate the potential utility of the quantitative approach and also to provide guidance on how to apply the model. It is acknowledged that the quantitative approach does not single out the most appropriate contract strategy for any given project. However, it is believed that the quantitative approach is most suited to deal with the decision problem's inherent complexities and is most likely to minimise the risk of irrational contract strategy decisions. It is therefore concluded that an improved understanding of contract strategy selection may result, especially on a personal level, from continued application of the quantitative approach.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Uncontrolled Keywords: | client; contract strategy; interview |
| Index terms: | empirical study, interview, prototype, construction project, contract strategy, methodology, complexity |
| Subjects: | research methods, production management, systems engineering, data collection methods, modelling and simulation, contractual arrangements |
| Topics: | Project Management, Research Practice, Engineering Principles, Procurement |
| Descriptive scope: | 5 PCTEA |
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