Authors:
Jin-hyuk Yoo
;
Dong-gun Lee
and
Hee-sung Cha
Affiliation:
Ajou University, Korea, Republic of
Keyword(s):
Cash Account, Cash-flow Model, Correlation Matrix, Key Success Factor, Project Financing.
Related
Ontology
Subjects/Areas/Topics:
Applications
;
Enterprise Information Systems
;
Information Systems Analysis and Specification
;
Methodologies and Technologies
;
Operational Research
;
Project Management
;
Risk Management
;
Software Engineering
;
Software Project Management
Abstract:
In the construction industry, the main obstacle in successfully completing a project is a failure in identifying and responding the project risk factors. Especially for construction project financing (PF), many project practitioners are struggling in developing a cash-flow model by integrating the key risk factors for the subject project. This study has identified key success factors (KSFs) of construction project financing (PF) throughout an extensive literature review in collaboration with an industry survey. They have been further derived from Factor Analysis technique and qualified using Fuzzy-AHP method. Throughout the evaluation of the derived success factors in real building construction projects, a strong correlation has been identified between the score of each PF success factor and the level of success and/or expected rate of return (ROR). Using the result of this investigation, this study has been developing a correlation matrix for inter-relating each KSF and its correspo
nding cash account in order to effectively measure the financial viability of PF projects. With the help of this mechanism, the project stakeholders can reach more objective and transparent decision-making process. The contribution of this study will help decision makers of the PF project make a better decision and give a meaningful guidance in achieving more successful PF projects.
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