Contractors working with the Public sector encounter numerous challenges in financing projects in Ghana. The challenges which have persisted over the years are both financial and managerial. This paper seeks to ascert...Contractors working with the Public sector encounter numerous challenges in financing projects in Ghana. The challenges which have persisted over the years are both financial and managerial. This paper seeks to ascertain the extent to which contractors’ challenges in acquiring funds to execute public sector projects have been solved. The study involved both qualitative and quantitative methods to ascertain the various strategies the contractors go through to obtain public sector projects focusing on the challenges associated with the project execution. The study revealed that delayed payments and inadequate cash flow on the part of government, lack of credit worthiness and inadequate collateral security from contractors are key determinants to challenges associated with financing public sector projects in Ghana. This paper recommends the establishment of a Construction Development Authority (CDA), within the Ministry of Works and Housing to develop financial plans, policies and laws for this important sector of the economy.展开更多
Public bidding is the international current practice to contract construction project. But the decision on the bidding often is made according to the qualitative evaluation based on the subjective opinion of specialis...Public bidding is the international current practice to contract construction project. But the decision on the bidding often is made according to the qualitative evaluation based on the subjective opinion of specialists. Therefore, the fuzzy mathematics principle was applied and a synthetic evaluation model was established to provide an effective method for the development of quantitative bidding decision in this paper.展开更多
The process of engaging private sector in the provision of public infrastructure can improve economic value in service delivery and enable the government to utilize the capabilities and expertise held by private secto...The process of engaging private sector in the provision of public infrastructure can improve economic value in service delivery and enable the government to utilize the capabilities and expertise held by private sector. This has a positive impact on the public in terms of improving their well-being. This literature review attempts to compare the challenges encountered in implementation of PPP projects across the world, with a view to determining cross cutting challenges and recommendations for developing countries. A literature review was conducted for empirical studies focusing on construction projects. The studies are reviewed by analyzing the methodology used and conclusions made to identify the geographical study area, Public Private Partnership project financing model, emerging challenges and recommendation for future project management. The literature search was based on four keywords: construction projects, completion of construction projects, public private partnership, challenges in construction projects. Thus, a total of 11 empirical studies were identified for review in Europe, Asia and Africa. The review revealed that most risk factors affecting project completion can be categorized as human and organizational factors and unknown geotechnical conditions that were not known beforehand. Specifically, project owners’ interference was also attributable to delays with the delays having significant implications for project execution. Risks have great impact on the performance of construction projects because they affect their quality, time and cost. The general remedy to such potential risk factors is adoption of reliable prediction mechanisms which would estimate those factors using a probabilistic model that does not rely on expert judgments as they tend to be unreliable.展开更多
文摘Contractors working with the Public sector encounter numerous challenges in financing projects in Ghana. The challenges which have persisted over the years are both financial and managerial. This paper seeks to ascertain the extent to which contractors’ challenges in acquiring funds to execute public sector projects have been solved. The study involved both qualitative and quantitative methods to ascertain the various strategies the contractors go through to obtain public sector projects focusing on the challenges associated with the project execution. The study revealed that delayed payments and inadequate cash flow on the part of government, lack of credit worthiness and inadequate collateral security from contractors are key determinants to challenges associated with financing public sector projects in Ghana. This paper recommends the establishment of a Construction Development Authority (CDA), within the Ministry of Works and Housing to develop financial plans, policies and laws for this important sector of the economy.
文摘Public bidding is the international current practice to contract construction project. But the decision on the bidding often is made according to the qualitative evaluation based on the subjective opinion of specialists. Therefore, the fuzzy mathematics principle was applied and a synthetic evaluation model was established to provide an effective method for the development of quantitative bidding decision in this paper.
文摘The process of engaging private sector in the provision of public infrastructure can improve economic value in service delivery and enable the government to utilize the capabilities and expertise held by private sector. This has a positive impact on the public in terms of improving their well-being. This literature review attempts to compare the challenges encountered in implementation of PPP projects across the world, with a view to determining cross cutting challenges and recommendations for developing countries. A literature review was conducted for empirical studies focusing on construction projects. The studies are reviewed by analyzing the methodology used and conclusions made to identify the geographical study area, Public Private Partnership project financing model, emerging challenges and recommendation for future project management. The literature search was based on four keywords: construction projects, completion of construction projects, public private partnership, challenges in construction projects. Thus, a total of 11 empirical studies were identified for review in Europe, Asia and Africa. The review revealed that most risk factors affecting project completion can be categorized as human and organizational factors and unknown geotechnical conditions that were not known beforehand. Specifically, project owners’ interference was also attributable to delays with the delays having significant implications for project execution. Risks have great impact on the performance of construction projects because they affect their quality, time and cost. The general remedy to such potential risk factors is adoption of reliable prediction mechanisms which would estimate those factors using a probabilistic model that does not rely on expert judgments as they tend to be unreliable.
