Financial Calculation Problems and Countermeasure Analysis of Large-Scale Engineering Construction Projects

The financial aspects of large-scale engineering construction projects profoundly influence their success.Strengthening cost control and establishing a scientific financial evaluation system can enhance the project’s economic benefits,minimize unnecessary costs,and provide decision-makers with a robust financial foundation.Additionally,implementing an effective cash flow control mechanism and conducting a comprehensive assessment of potential project risks can ensure financial stability and mitigate the risk of fund shortages.Developing a practical and feasible fundraising plan,along with stringent fund management practices,can prevent fund wastage and optimize fund utilization efficiency.These measures not only facilitate smooth project progression and improve project management efficiency but also enhance the project’s economic and social outcomes.

Construction Safety Management of Mechanical and Electrical Installation Projects

Various industries today rely on the support of electromechanical equipment,expanding its scope of application and leading to an increase in electromechanical installation projects.However,due to the high level of expertise required and the potential risks involved,it is crucial to emphasize safety management during construction.This paper delves into the significance of construction safety management for electromechanical installation projects,identifies common problems encountered during construction,and proposes solutions.This analysis aims to provide relevant personnel with essential guidance and references for managing electromechanical installation projects safely.

Discussion on Construction Project Cost Budget Settlement Review

Construction project cost control involves many complex contents,forming a large amount of data information.If the processing method is unreasonable,it will likely affect the cost control efficiency.Therefore,in the current construction project management,the review of project cost budget settlement is the focus to solve the cost management problems of construction projects and promote the development of the construction industry.This article mainly analyzes the influencing factors and current situation of construction project cost budget settlement review,and based on this,it explores the project cost budget settlement review strategy to promote the healthy development of construction project cost work.

Perception-Based Assessment of the Factors Causing Delays in Construction Projects

Construction delay is a widespread issue in the construction industry of developing countries, and Nepal is no exception. These delays extend project durations and lead to cost overruns and disputes among stakeholders. To address this problem, this study aimed to identify and analyze the significant factors that contribute to construction project delays in Nepal. To gather data, a well-structured questionnaire was developed and administered to a sample of 100 participants, including contractors, consultants, and civil engineers. Various statistical tests were conducted to ensure the data’s integrity and consistency, such as reliability assessments and factor analyses. The findings of the study highlighted multiple factors contributing to delays in construction projects such as inadequate design, poor communication, and coordination among stakeholders, insufficient experience and planning by contractors, delays in material delivery and testing, labor-related problems including shortages and low qualifications, and external factors like regulatory changes and unforeseen circumstances. By identifying these major causes of construction project delays, this study presented insightful information that can contribute to the analysis and evaluation of project performance.

Evaluating the Impact of Workshop Management on the Progress of Road Construction Projects(Case Study:Road Construction Projects of Tehran Province)

Construction projects,including road construction,are very important.Therefore,a lot of money is spent on these projects every year.So,the lack of proper planning will increase the cost and cause irreparable damage to the country.The role of workshop management is one of the most important factors in increasing the cost of these types of projects.Generally,workshop management plays a very important role in improving the quality and quantity of projects and has an important place in the project implementation process.Therefore,this study evaluated the impact of workshop management on the progress of road construction projects on a case-by-case basis in road construction projects in Tehran province.According to the purpose of the research,this study was a descriptive-survey type.In addition,the tool used in this research was a questionnaire.The statistical population of this research included all experts and specialists in road construction projects,among whom 65 people were selected by snowball method.Then the collected data were analyzed using SPSS software.The results of this study showed that the management of the workshop and its role in the control and implementation of projects is a complex process,which can be implemented at high levels and effectively by combining scientific and experimental training.And a very important point in the discussion of workshop management is applying scientific management to the use of valuable experiences from others.Because management knowledge not only does not negate the use of these experiences,but also emphasizes the necessity of using them.In other words,improving the knowledge of workshop management is one of the requirements for the implementation of value engineering in construction projects,especially road construction,and it is very important.

Discussion on the Application of Pipe Jacking Construction Technology in Municipal Road Drainage Projects

In the construction of municipal road drainage projects,pipe jacking construction is a relatively common construction method.This construction technology can avoid a large amount of excavation work,improve drainage construction efficiency,avoid large-scale damage to the road surface,and exert small traffic impact.Therefore,it is currently widely used in drainage construction,but judging from the current actual application situation,there are still many problems that require further improvement.This article mainly analyzes the advantages of and current technical problems in pipe jacking construction technology in detail,explores corresponding solutions,and lays a foundation for the optimization of municipal road drainage engineering construction.

Design of Aided Decision-Making Program for Prioritizing Construction Projects in Urban Road Network Planning

The importance and complexity of prioritizing construction projects (PCP) in urban road network planning lead to the necessity to develop an aided decision making program (ADMP). Cost benefit ratio model and stage rolled method are chosen as the theoretical foundations of the program, and then benefit model is improved to accord with the actuality of urban traffic in China. Consequently, program flows, module functions and data structures are designed, and particularly an original data structure of road ...

The Innovation and Practice in Jakarta-Bandung High Speed Railway Construction

As a flagship project of Sino-Indonesia cooperation within the framework of“the Belt and Road”Initiative(BRI),Jakarta-Bandung High Speed Railway(Jakarta-Bandung HSR)is the first overseas high speed railway entirely implementing China's high speed railway technology with all systems,elements and industrial chain.It marks the success of extensive consultation,joint contribution and shared benefits between China and region states to achieve modernization.By studying the Jakarta-Bandung HSR project,this paper concludes the innovations and successful practices in“going global”of China's railway industry in terms of project organization,engineering construction,railway equipment,operation management,risk prevention and control,etc.Meanwhile,focusing on one of the eight major steps to support high-quality Belt and Road cooperation proposed by President Xi Jinping—building a multidimensional“the Belt and Road”connectivity network,this paper puts forward the specific outlook for China's high speed railway to“go global”and jointly build“the Belt and Road”Initiative from two perspectives of international railway engineering and international scientific and technological cooperation.

Multi-Criteria Decision-Making for Power Grid Construction Project Investment Ranking Based on the Prospect Theory Improved by Rewarding Good and Punishing Bad Linear Transformation

Using the improved prospect theory with the linear transformations of rewarding good and punishing bad(RGPBIT),a new investment ranking model for power grid construction projects(PGCPs)is proposed.Given the uncertainty of each index value under the market environment,fuzzy numbers are used to describe qualitative indicators and interval numbers are used to describe quantitative ones.Taking into account decision-maker’s subjective risk attitudes,a multi-criteria decision-making(MCDM)method based on improved prospect theory is proposed.First,the[−1,1]RGPBIT operator is proposed to normalize the original data,to obtain the best andworst schemes of PGCPs.Furthermore,the correlation coefficients between interval/fuzzy numbers and the best/worst schemes are defined and introduced to the prospect theory to improve its value function and loss function,and the positive and negative prospect value matrices of the project are obtained.Then,the optimization model with the maximum comprehensive prospect value is constructed,the optimal attribute weight is determined,and the PGCPs are ranked accordingly.Taking four PGCPs of the IEEERTS-79 node system as examples,an illustration of the feasibility and effectiveness of the proposed method is provided.

The Importance of Construction Project Archives Management and Ways to Strengthen it

China’s economy has been developing rapidly in recent years,leading to an acceleration of urbanization,which in turn caused the number of construction projects in various regions to increase significantly.Archives are important information for construction projects.The quality of archives management can have a great impact on the quality and economic benefits of construction projects.For this reason,it is necessary to increase the emphasis on archives management of construction projects and take effective management measures.This article introduces the concept of construction project archives,highlights the significance of effective management in construction project archives,and examines prevalent issues along with practical measures to enhance construction project archives management,with the goal of offering valuable insights for archive managers.

Analysis on Classified Storage and Traceability of Construction Project Archives

With the development and progress of economic construction and market economy,urban construction is also developing rapidly.In the field of construction engineering,a large number of construction engineering files are constantly being produced and accumulated.Therefore,the role of file management is becoming more and more important.The archives are the true records of the whole process of project construction,including the information on the whole process from project design to completion,and are also the main basis for operation management after project delivery.However,there are many aspects to construction project archives,and there are many problems.Nowadays,the classification and preservation of archives are receiving more and more attention.In this article,the origin and development history of construction project archives is first expounded,and its attributes and importance are analyzed.Secondly,the differences between ancient and modern archives management are compared,and at the same time suggestions on improving the archives’traceability system,strengthening the use of archives,and establishing and improving archives management are given.In this paper,we summarize the problems in archives sorting and put forward specific solutions to improve the standardization and systematic management of archives work and enhance the authenticity and integrity of construction project archives.

Application of system dynamics for assessment of sustainable performance of construction projects

Sustainable performance is expected to become a major factor when examining the feasibility of a construction project in terms of its life cycle performance. The study on which this paper is based developed a simulation model, using system dy- namics methodology, to assess the sustainable performance of projects. Three major factors are used to examine project sus- tainable performance (PSP): the sustainability of economic development (E), the sustainability of social development (S), and the sustainability of environmental development (En). Sustainable development ability (SDA) was used as a prototype to evaluate the degree of sustainable performance. The simulation software ‘ithink’ was used to help with the application of the model to a real life case. This paper explains and demonstrates the procedures used to develop the model and finally offers an approach for assessing the feasibility of a construction project in terms of its sustainable performance.

Assessment of Man-made and Natural Hazards in the Surroundings of Hydropower Projects under Construction in the Beas Valley of Northwestern Himalaya

Mountain ecosystem, on the earth, has plenty of natural resources. In Himachal Pradesh all the rivers are snowfed and therefore rich in water resources. These resources have been supporting enough for the generation of electricity through introducing hydropower projects since the last decade However, every developmental activity has its own negative impacts on the surrounding environment. Due to the fragile nature of topography and delicacy of ecology of the Himalaya, it results in lot of disturbances because of high degree of human interferences like construction of major hydropower projects. The increased extent of geological hazards, such as landslides, rock fall and soil erosion, have mainly due to alike developmental interventions in the natural ecosystem. So understanding and analysing such impacts of the hydropower projects have mainly been on the environment in various forms but natural hazards have been frequent ones. The present study, therefore, focuses mainly on the Parbati Stage II （800 MW） and the Parbati Stage III （520 MW） hydropower projects; both of which fall within the Kullu district of Himachal Pradesh. Based on the perception survey of the local communities, the existing land use pattern, status of total acquired land of the residents by hydropower projects, frequent natural hazards and resultant loss to the local communities due to upcoming construction of hydropower projects surrounding to the Parbati Stage II and III have been analysed in the paper. Also, the preventive measures to mitigate these adverse impacts have been suggested to strengthen these projects in eco-friendly manner in the mountain context.

Research on Delay Risks of EPC Hydropower Construction Projects in Vietnam

In recent years, in Vietnam, economy has been developing rapidly. To ensure rapid and sustainable economic growth, strong support from the energy sector is required. Governments in Vietnam have invested in numerous hydropower projects, many of which employ the EPC (Engineering, Procurement and Construction) contract. However, the EPC general contractors are facing many difficulties, resulting in schedule delays and considerable losses. This research is conducted to highlight the main risk factors in the delays of hydropower construction projects in Vietnam. The research employs the method of statistical calculations and risk analysis to obtain feedback from experts participating in similar projects. The research outcomes are as follows: identifying the risks that can cause delays in EPC hydroelectric construction projects in Vietnam;calculating and classifying the degree of impact of each risk to the progress of the construction. The practical significance of this study is to ensure the timely completion of projects, benefits for the investors, and the EPC general contractors.

Emerging Challenges in the Completion of Construction Projects through Public Private Partnerships: Empirical Literature Review

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.

Risk Assessment at the Design Phase of Construction Projects in Ghana

The study was carried out exclusively in Ghana to explore the approaches employed by consultants in risk assessment at the design phase of projects in Ghana. One hundred and fourteen (114) consultants were selected out of a population of one hundred and eighty six (186) from three main professional associations in Ghana made up of the Ghana Institute of Architects, Ghana Institution of Engineers and the Ghana Institution of Surveyors (Quantity Surveying Division) practicing in Ghana for the study. Both primary and secondary data were collected. A descriptive survey was also used to observe and describe the presence, frequency or absence of characteristics of a phenomenon as it naturally occurred, in order to gain additional information. A questionnaire was also designed to collect data from the architects, engineers and quantity surveyors. The data was analyzed using Statistical Package for the Social Scientists (SPSS) 17.0. Descriptive and inferential statistics, such as frequency tables, percentages and cross tabulations were used in the data analysis and summaries. Simple tests of associations were undertaken by using Chi square and Cramer’s V statistics to compare relationships between variables. Again, relative importance index was also used to analyze some of the data by computing to deduce their rankings. The relative importance index was used to analyze some of the data by computing to deduce their rankings. The research revealed that majority of consultants had an average knowledge of risk management. Based on the findings it was recommended that consultants undergo advanced training in risk assessment. It was therefore suggested that consultancy firms should develop a set of laid down procedures for consultants to use in risk assessment in order that the use of intuition employed by majority is lessened. The challenges observed in risk assessment and the remedial steps suggested curtailing the detrimental effects of risks would be of wide importance to many developing economies.

An Analysis of the Benfit on Green Risk in Construction Projects

The Construction project green risks (CPGRs) refer to those threats to environment, energy sources and material re-sources during the entire life-cycle of a construction project. The emergent green risks in exploiting these resources are of varying concern to all. In this paper, evolutionary game is introduced to make about impacts of strategy choices from interactions among the choices developers, and between the choices developers and EPDs on project green risk. The results show that CPGRs will occur if either developers find that not managing CPGRs has a better payoff than opting for CPGR management, or if monitors impose only mild fines even when they find CPGRs within construction projects of developer’s firms. The study also shows that there is a prohibitively expensive cost incurred by EPDs in monitoring CPGRs. Finally, some strategies are given for EPDs to help them make policies to regulate the strategies of developers.

Analysis of Construction Duration and Cost for Public Sector Civil Engineering Projects in Libya

Public construction project data were analyzed to develop models for the actual construction duration and actual cost. Based on 50 civil engineering projects in Libya from the database of the Great Man-Made River System 1992-2009, the models identified extension as a main factor that affecting both the actual duration and cost of a project, while considering the contract cost and contract duration as fixed for the project. The suitability of each model was confirmed by examining RMSE (root mean squared error), NSE (Nash-Sutcliffe efficiency), and MEF (modeling efficiency factor). The models were validated with data from 17 different projects. The validation of both models demonstrated that models are very practical and accurate. The models are very effective in capturing the uniqueness of Libyan construction industry practice.

Study of Quality Management in Construction Projects

This research management, exp and lores preliminarily the practices of quality management, management commitment in quality quality management implementation problems in construction projects in the context of Malaysian construction industry. The research applies semi-structured interview approach with twelve project management practitioners. The findings of the study indicate that the state of quality management in construction projects in Malaysia needs to be strengthened and there are problems in relation to quality management implementation that require attention and further research. The paper provides an insight on the state of quality management in construction projects in Malaysia.

The Relationship between Financial Reporting System and Project Success: A Case of Construction Projects in UAE

The purpose of this paper is to deliver a better perception of the project success,and how reporting system might increase the probability of project success in construction projects in UAE.Further,it aims at exploring the relationship between effective reporting system in terms of the characteristic of its outputs(mainly effectiveness of financial reporting system)and project success.Semi-structured interviews with a number of interior auditors,accountants,and chief financial officers(CFOs)from different corporations in construction sector in UAE in order to recognize how effective reporting system in terms of the characteristic of its outputs(broad scope,timeliness,aggregation,and integration)might contribute to increase the probability of project success.There are several success factors in construction projects in UAE,thus it is very hard to capture all these factors in one paper.Hence,this paper is not considering all project success factors rather it focuses on the characteristic of outputs of the reporting system generally and the financial reporting system particularly(broad scope,timeliness,aggregation,and integration),as most of the studies in the literature considered the reporting system as a key factor of project success.This paper adds to both project management and accounting research by evidencing results from an exploration how effective reporting might impact the project success,with valuable implications for standard officials,customers,investors,stakeholders,sponsors,shareholders,CFOs,project developer,consultants,internal auditors,and accounting academics.The effective reporting system in United Arab Emirates(UAE)construction projects enables possessors,customers,and contractors of projects to get timely information about the progress of project in a brief and significant format which in turn improve the decision-making process and contribute to project success.This paper implies a contribution for both project management literature and accounting research by investigative the effectiveness of reporting system in project successes from historical point of view and contemporary point of view.