Openly accessible

Factors driving success of cost management practices in integrated project delivery (IPD)

Elghaish, Faris, Hosseini, M. Reza, Talebi, Saeed, Abrishami, Sepehr, Martek, Igor and Kagioglou, Michail 2020, Factors driving success of cost management practices in integrated project delivery (IPD), Sustainability, vol. 12, no. 22, pp. 1-14, doi: 10.3390/su12229539.

Attached Files
Name Description MIMEType Size Downloads

Title Factors driving success of cost management practices in integrated project delivery (IPD)
Author(s) Elghaish, Faris
Hosseini, M. RezaORCID iD for Hosseini, M. Reza orcid.org/0000-0001-8675-736X
Talebi, Saeed
Abrishami, Sepehr
Martek, IgorORCID iD for Martek, Igor orcid.org/0000-0001-6573-1291
Kagioglou, Michail
Journal name Sustainability
Volume number 12
Issue number 22
Article ID 9539
Start page 1
End page 14
Total pages 14
Publisher MDPI AG
Place of publication Basel, Switzerland
Publication date 2020
ISSN 2071-1050
Keyword(s) construction
risk-reward sharing
alliancing
partnerships
cost estimation
5D BIM
web-based systems
ICT cost data
digitalisation
Summary Integrated project delivery (IPD) is a mode of project procurement recognised as facilitating superior project performance. However, this success is contingent on effective cost management practices that share cost data with all project stakeholders in an accurate, timely and transparent manner. Despite an extensive literature on aspects of cost management, none identifies the essential ingredients required of an effective cost management system, sufficiently robust to support successful IPD projects. Candidate cost management augmenting practices are drawn from the literature, and presented for scrutiny in questionnaire form, to fifty IPD experienced experts, based in the USA, UK and Australia. Findings reveal activity-based costing (ABC) to be effective at identifying overhead costs and creating accounting transparency. Similarly, earned value management (EVM), in combination with ABC, is effective at developing mathematical models for equitable risk-reward distribution. Moreover, web-based management systems, as supported by Building Information Modelling (BIM), are effective at generating trust and collaboration on which IPD success depends. A questionnaire survey using purposive sampling was conducted to assess the factors driving success of implementing IPD regarding cost management process. The contribution to knowledge made by this paper is in identifying requisite support mechanisms essential to elevate traditional cost management practices to the higher standard needed to ensure IPD delivery success.
Language eng
DOI 10.3390/su12229539
Indigenous content off
Field of Research 12 Built Environment and Design
HERDC Research category C1 Refereed article in a scholarly journal
Free to Read? Yes
Persistent URL http://hdl.handle.net/10536/DRO/DU:30146012

Connect to link resolver
 
Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved.

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.

Versions
Version Filter Type
Citation counts: TR Web of Science Citation Count  Cited 0 times in TR Web of Science
Scopus Citation Count Cited 0 times in Scopus
Google Scholar Search Google Scholar
Access Statistics: 23 Abstract Views, 1 File Downloads  -  Detailed Statistics
Created: Tue, 01 Dec 2020, 08:35:21 EST

Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.