Charoenngam, C and Sriprasert, E (2001) Assessment of cost control systems: A case study of Thai construction organizations. Engineering, Construction and Architectural Management, 8(5-6), pp. 368-380. ISSN 0969-9988
Abstract
The most important function that facilitates construction organizations to accomplish profit maximization is cost control. However, the absence of a well-established cost control system has caused failures to many Thai contractors especially during the current economic recession period. To comprehensively understand cost control systems in practice, this study theoretically assessed effectiveness as well as the deficiencies of the traditional systems vis-a-vis the effective systems. In addition, by contrasting what are found in effective systems but not found in traditional systems, critical attributes most contributing to the systems' successfulness were identified so that the improvement steps can be suitably prioritized. The validated findings indicated remarkable contrasts between traditional and effective systems. Two critical aspects, including advancement of cost control framework and systematic participation of site personnel in cost control, were found to be the major differences. Interestingly, similar conditions were encountered in various countries such as Greece, Pakistan and Australia; hence suggestions from this study could be internationally useful.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | case study; cost control system; effective system; system assessment; Thai construction organizations; traditional system |
| Index terms: | construction organization, Australia, maximization, personnel, recession, Pakistan, cost control, case study, profit, effectiveness, Greece |
| Subjects: | organization, economic analysis, management, Geography, performance management, algorithms, data collection methods, financial and cost management |
| Topics: | Business Strategy, Cost Management, Research Practice, Human Resources, Digital Applications, Geographical Context, Quality 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