Oshodi, O; Edwards, D J; lam, K C; Olanipekun, A O and Aigbavboa, C O (2020) Construction output modelling: a systematic review. Engineering, Construction and Architectural Management, 27(10), pp. 2959-2991. ISSN 0969-9988
Abstract
Purpose: Construction economics scholars have emphasised the importance of construction output forecasting and have called for increased investment in infrastructure projects due to the positive relationship between construction output and economic growth. However, construction output tends to fluctuate over time. Excessive changes in the volume of construction output have a negative impact upon the construction sector, such as liquidation of construction companies and job losses. Information gleaned from extant literature suggests that fluctuation in construction output is a global problem. Evidence indicates that modelling of construction output provides information for understanding the factors responsible for these changes. Methodology: An interpretivist epistemological lens is adopted to conduct a systematic review of published studies on modelling of construction output. A thematic analysis is then presented, and the trends and gaps in current knowledge are highlighted. Findings: It is observed that interest rate is the most common determinant of construction output. Also revealed is that very little is known about the underlying factors stimulating growth in the volume of investment in maintenance construction works. Further work is required to investigate the efficacy of using non-linear techniques for construction output modelling. Originality: This study provides a contemporary mapping of existing knowledge relating to construction output and provides insights into gaps in current understanding that can be explored by future researchers.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | construction output; forecasting; modelling; systematic review; text mining |
| Index terms: | mining, modelling, methodology, infrastructure project, construction sector, economic growth, construction company, thematic analysis, construction output, construction work, interest rate, construction economics, evidence, determinant, forecasting, mapping, systematic literature review, liquidation |
| Subjects: | infrastructure and transport systems, research evaluation and metrics, methods and analysis, financial analysis, spatial and geospatial analysis, prediction and forecasting, geotechnical engineering, economic analysis, industry analysis, economic development, organization, evaluation and assessment methods, analytical methods, risk assessment, operations management, research methods |
| Topics: | Cost Management, Project Management, Research Practice, Sustainability, Engineering Principles, Risk Management, Business Strategy |
| Descriptive scope: | 5 PCTEA |
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