Project buyout performance of Chinese International Construction Enterprises (CICEs) : the case in developing countries (Sri Lanka)

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Project buyout performance of Chinese International Construction Enterprises (CICEs) : the case in developing countries (Sri Lanka)

 

Author: Hu, Jianxin
Title: Project buyout performance of Chinese International Construction Enterprises (CICEs) : the case in developing countries (Sri Lanka)
Degree: D.B.A.
Year: 2006
Subject: Hong Kong Polytechnic University -- Dissertations.
Construction industry -- Subcontracting -- Sri Lanka.
Project management -- Sri Lanka.
Department: Graduate School of Business
Pages: xii, 273 leaves : ill. ; 30 cm.
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2066138
URI: http://theses.lib.polyu.edu.hk/handle/200/1135
Abstract: Whilst most of the construction project management aspects (for example, feasibility study, design, procurement, plan and schedule, construction, control, and close up) have been well studied in the construction industry during the past decades, project buyout time frame is still an area, where little study has been studied (Zwick and Miller, 2004). This is largely due to the fact that project buyout involves very complicated factors, which requires much information from industrial experience. More importantly it is because the importance of project buyout management has not been fully recognized. Nevertheless, the importance of project buyout management can not be under estimated as it is vital for the success of projects. This study investigates the strategies for assisting the Chinese International Construction Enterprises (CICEs) to improve the performance of managing project buyout period when they operate overseas business in developing countries. Sir Lanka is selected a sample country for this research, where CICEs have been undertaking construction works with good experience. It has been realized that the performance of managing project buyout period is a major contributor to contractor's competitiveness in international market. The CICEs are emerging as one of the strongest contenders in international construction markets, after international construction enterprises from the United States, UK, Japan and several other European countries. However, little studies in the literature have been conducted in examining CICEs' performance and management effectiveness in the global markets. The research on CICEs' project buyout management practice is even non-existing. In fact, project buyout management is particularly important to CICEs in comparing to other international contractors as CICEs have less project management experience at the level of international market. CICEs will find limitation in improving business performance in international market if they cannot manage project buyout period effectively. This fact inspires this study, which aims to suggest a most appropriate practice model for the project buyout management for CICEs. The major findings from this study follow in three areas: the identification of the major factors affecting the performance of project buyout when different management models are applied, the illustration of a better management model developed in the current practice, and the suggestion for the improvement of the current management model. Four typical management models are classified. During project buyout period, Model 1 (Project Team without a Local Agent) is affected mainly by the factors of the top management commitment, Project Manager (PM), Incentive mechanism for PM, Risk management strategy and the short-term strategy (Low cost strategy for a particular project). Model 2 (Project Team with a Local Agent) is mainly affected by the similar factors identified in Model 1. Model 3 (Representative Office, namely, Liaison Office) is mainly affected by Project Manager, Incentive for PM, the top management commitment, and risk management strategy. And Model 4 (Regional Office Model) is mainly affected by the management team for Project Buyout, Incentive mechanism for project buyout management team, the long-term strategy (market strategy), the top management commitment, Project Manager (PM), and CICEs own capacity in local market. Model 4 is found the better management model developed in the current practice. However, the shortcomings exist in the Model 4, for example, the short term appointment for the general manager, short incentive mechanism for managerial staff. Thus an improved management model is proposed. The results from this research will contribute to both improving the CICEs' management performance in their global businesses and enriching the literature of project buyout management.

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