Kishk, M (2002) Towards effective consideration of non-financial factors in the design and management of construction assets. Journal of Financial Management of Property and Construction, 7(3), pp. 163-174. ISSN 1366-4387
Abstract
The decisive role of non-financial factors in the design and management of construction assets is highlighted and existing techniques used to include these factors in the decision-making process are critically reviewed. An effective algorithm has been developed to include non-monetary benefits of competing design alternatives in whole-life costing studies. The unique feature of the algorithm, amongst others, is that it proceeds through logical steps that can be followed and assessed by decision-makers. Details of the computer implementation of the algorithm are presented. The solution of a selected example problem is also included to illustrate the theory of the algorithm.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | decision-making, intangibles, life cycle costing, whole life costing |
| Index terms: | decision-making, whole-life costing, financial factor, implementation, costing, life cycle, decision-making process |
| Subjects: | accounting and finance, occupational health, contractual arrangements, economic analysis, decision analysis, value management |
| Topics: | Project Management, Health and Safety, Procurement, Risk Management, Research Practice, Cost Management |
| Descriptive scope: | 2 PC |
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