New Zealand Building Project Cost and Its Influential Factors: A Structural Equation Modelling Approach

Simple item page
aut.relation.articlenumber1362730en_NZ
aut.relation.journalAdvances in Civil Engineeringen_NZ
aut.relation.volume2019en_NZ
aut.researcherWang, Bin
dc.contributor.authorZhao, Len_NZ
dc.contributor.authorWang, Ben_NZ
dc.contributor.authorMbachu, Jen_NZ
dc.contributor.authorLiu, Zen_NZ
dc.date.accessioned2020-03-20T00:41:54Z
dc.date.available2020-03-20T00:41:54Z
dc.date.copyright2019en_NZ
dc.date.issued2019en_NZ
dc.description.abstractConstruction industry significantly contributes to New Zealand's economic development. However, the delivery of construction projects is usually plagued by cost overruns, which turn potentially successful projects into money-losing ventures, resulting in various other unexpected negative impacts. The objectives of the study were to identify, classify, and assess the impacts of the factors affecting project cost in New Zealand. The proposed research model was examined with structural equation modelling. Recognising the lack of a systematic approach for assessing the influencing factors associated with project cost, this study identified 30 influencing factors from various sources and quantified their relative impacts. The research data were gathered through a questionnaire survey circulated across New Zealand construction industry. A total of 283 responses were received, with a 37% response rate. A model was developed for testing the relationship between project cost and the influential factors. The proposed research model was examined with structural equation modelling (SEM). According to the results of the analysis, market and industry conditions factor has the most significant effect on project cost, while regulatory regime is the second-most significant influencing factor, followed by key stakeholders' perspectives. The findings can improve project cost performance through the identification and evaluation of the cost-influencing factors. The results of such analysis enable industry professionals to better understand cost-related risks in the complex environment.en_NZ
dc.identifier.citationAdvances in Civil Engineering, Article ID 1362730, https://doi.org/10.1155/2019/1362730.
dc.identifier.doi10.1155/2019/1362730en_NZ
dc.identifier.issn1687-8086en_NZ
dc.identifier.issn1687-8094en_NZ
dc.identifier.urihttps://hdl.handle.net/10292/13217
dc.publisherHindawi
dc.relation.urihttps://www.hindawi.com/journals/ace/2019/1362730/
dc.rightsCopyright © 2019 Linlin Zhao et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
dc.rights.accessrightsOpenAccessen_NZ
dc.titleNew Zealand Building Project Cost and Its Influential Factors: A Structural Equation Modelling Approachen_NZ
dc.typeJournal Article
pubs.elements-id360365
pubs.organisational-data/AUT
pubs.organisational-data/AUT/Faculty of Business, Economics and Law
pubs.organisational-data/AUT/Faculty of Business, Economics and Law/Business Information Systems
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
9-New Zealand Building Project Cost and Its Influential Factors.pdf
Size:
1.49 MB
Format:
Adobe Portable Document Format
Description:
Journal article
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
AUT Grant of Licence for Tuwhera Aug 2018.pdf
Size:
276.29 KB
Format:
Adobe Portable Document Format
Description:
Download
Collections
AUT Business School