Feghali, M and Raidén, A B (2016) Project management practice within the Lebanese real estate industry. In: Chan, P W and Neilson, C J (eds.) Proceedings of 32nd Annual ARCOM Conference, 5-7 September 2016, Manchester, UK.
Abstract
Within the Lebanese real estate sector, project management processes and practices are being redefined to account for international economic strategies and aggressive competition at national level. Many investors have recently discovered the emerging Lebanese real estate market as an opportunity for a very lucrative business. However, historically the Lebanese market has been characterised by precariousness due to political instability, environmental risks, funding difficulties, demographics and cultural issues. We investigate project management practices and their contribution to the success of the Lebanese real estate sector through an inductive study. This research looks at the project level and the organisational level as well as the interactive and human processes related to managing projects. A multidimensional stakeholder approach is employed to enhance our understanding of the existing project management success theory specifically in relation to the conditions which apply to the Lebanese real estate sector. The findings from seven data rich, semi-structured interviews with different stakeholders within the Lebanese real estate sector inform the development of a success measurement framework that accounts for diverse success criteria in the Lebanese market. This framework offers an important contribution: while it complements prior work on project management and success, it also highlights a number of previously unidentified, context-specific determinants that are critical for success in Lebanon. These include culture, time management, human resources management and project financing. The framework is not intended to produce yet another list of critical success factors, but rather to serve as a dual-purpose, context specific tool for both practitioners and researchers. The later stages of this study will seek in-depth expert views through a larger scale mixed-method programme of research in order to verify and validate the framework.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | project management practice; Lebanon; project finance; time management; human resource management |
| Index terms: | strategy, project management process, time management, project management, practitioner, success criteria, determinant, investor, environmental risk, project finance, real estate, financing, Lebanon, project management practice, funding, programme, demographics, human resource, interview, critical success factor, competition, human resource management |
| Subjects: | practitioner, financial management, risk assessment, real estate economics, sociology, data collection methods, project controls, Geography, economic analysis, financial risk, market analysis, management, demography, control systems, assessment methods, project management theory and practice |
| Topics: | Cost Management, Geographical Context, Time Control, Urban Studies, Project Management, Business Strategy, Stakeholder Management, Roles and Professions, Risk Management, Research Practice, Human Resources |
| 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