Van Reedt Dortland, M; Voordijk, H and Dewulf, G (2013) Real options in project coalitions in Dutch health care: Two case studies of construction projects. Construction Management and Economics, 31(3), pp. 266-286. ISSN 1466433X
Abstract
Uncertainties affecting health organizations inevitably influence real estate decisions since real estate is required to facilitate the primary process in cure and care. Decisions have to be taken when there is little knowledge about the future. Therefore, flexibility is needed in the process of designing, constructing and operating real estate. Real options provide an approach to gain greater insight into flexibility. The aim is to analyse whether real options can be recognized in the real estate strategies of health organizations and what real options are provided by various forms of project coalition. Two case studies reveal that real options thinking can indeed be recognized in specific real estate strategies. The choice of certain real options is partly a result of the type of project coalition applied. Further development of real options thinking in real estate management in cure and care creates opportunities to deal with future uncertainties.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | case study; health care; project coalitions; real estate management; real options thinking |
| Index terms: | strategy, construction project, case study, real estate, health care, real option |
| Subjects: | data collection methods, real estate economics, economic analysis, management, public and environmental health, production management |
| Topics: | Urban Studies, Business Strategy, Health and Safety, Research Practice, Project Management |
| Descriptive scope: | 3 PCE |
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