Modeling Causes of Cost Overrun in Large Construction Projects with Partial Least Square-SEM Approach: Contractor's Perspective

Aftab Hameed Memon · Ismail Bin Abdul Rahman · Ade Asmi Abdul Azis · Nor Hazana Abdullah

59 citations0/0 files storedResearch Journal of Applied Sciences Engineering and Technology

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Construction Project Management and Performance BIM and Construction Integration Value Engineering and Management

Abstract

Construction cost overrun is a major problem faced by the construction industry globally and it needs serious attention to alleviate. Cost overrun is a result of one or combination of several causes which are very important to identify for effective cost performance. Current methodologies focusing on the identification of causes does not give the insight of underlying relationships between the causes. Hence, this study focused on studying the fundamental relationship between factors of cost overrun using Partial Least Square-SEM method. This is an advanced multivariate analysis technique for estimating and analyzing causal relationships in path models. Data collection was carried out with structured questionnaire survey amongst contractors involving in large construction projects in Malaysia. Hierarchal model for assessing causative factors and cost overrun was developed and analyzed using Smart PLS software of SEM and it was found that contractor’s site management related factors had strong effect on cost overrun. The calculated Global Fit (GoF) Index of model was 0.405, which indicates that the developed model had substantial explaining power to represent the Malaysia construction industry focused of large construction projects. Hence, improvement in contractor’s site management is the critical requirement to control construction cost overrun.

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References

1981Evaluating Structural Equation Models with Unobservable Variables and Measurement Error 2011PLS-SEM: Indeed a Silver Bullet 2009\nThe use of partial least squares path modeling in international marketing 1999Use of partial least squares (PLS) in strategic management research: a review of four recent studies 1998Modern Methods for Business Research 2009Using PLS Path Modeling for Assessing Hierarchical Construct Models: Guidelines and Empirical Illustration1 2009The use of partial least squares path modeling in international marketing 1999Social Cognitive Theory and Individual Reactions to Computing Technology: A Longitudinal Study1

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