Grosskopf, K R (2004) Teaching methods improvement using industry focus groups: A case study in construction financing. International Journal of Construction Education and Research, 1(1), pp. 13-25. ISSN 1557-8771
Abstract
More than 50 percent of new contractors fail within the first five years of operation. This paper attempts to address the financial characteristics distinguishing successful firms from those less fortunate in an effort to improve instructional competencies and better prepare students for careers in construction. To accomplish this objective, benchmarking data from the Construction Financial Management Association (CFMA) and the Fails Management Institute (FMI) have been complemented by University of Florida focus group research of construction industry experts to identify key financial competencies related to contractor success. A case-study project was then developed to provide delivery and reinforcement of key competencies in business start-up, project financing, and construction business operations. Next, an outcome assessment survey was administered to construction financing students to evaluate key competency levels obtained. To test the relative success of the case-study project, course evaluations for three consecutive semesters during 2002-2003, prior to project implementation, and three semesters during 2003-2004, following project implementation, were compared. Outcome assessments found that students acquired significant competencies and skill sets identified as critical by construction industry experts as well as CFMA and FMI. Course evaluations further improved nearly 30 percent when compared to evaluations prior to teaching methods improvement.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | break-even sales; construction loan agreement; construction finance education; income capitalization; pro forma; teachings methods improvement; working capital |
| Index terms: | financing, benchmarking, career, survey, focus group, implementation, construction industry, reinforcement, income, teaching method, construction finance, financial management, case study |
| Subjects: | building materials, data collection methods, industry analysis, financial management, performance measurement, teaching methods, professional development, contractual arrangements, economic analysis |
| Topics: | Procurement, Quality Management, Education, Cost Management, Business Strategy, Research Practice, Construction Materials, Information Management |
| Descriptive scope: | 4 PCTE |
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