Author: Assaf, Mohamed Kamal Abbas
Title: Financial management and procurement approaches of modular construction projects : a blockchain-based bim framework
Advisors: Zayed, Tarek (BRE)
Degree: M.Sc.
Year: 2022
Subject: Modular construction -- Management
Construction projects -- Management
Blockchains (Databases)
Hong Kong Polytechnic University -- Dissertations
Department: Department of Building and Real Estate
Pages: xvi, 183 pages : color illustrations
Language: English
Abstract: Offsite construction (OSC) is an innovative construction technique that transfers the site-based construction processes away from the jobsite into a more controlled environment. Prefabricated components, panelized elements, and fully prefabricated volumetric modules (modular construction) are some examples of OSC techniques. Numerous advantages are perceived by the adoption of OSC, such as minimizing construction waste, speedy construction, higher sustainability, and better quality. However, OSC techniques are characterized by a slow pace of adoption due to several barriers. These barriers are associated with complex supply chains, financial issues, cost uncertainty, lack of knowledge, etc. Accordingly, comprehensive literature has revealed that previous studies have overlooked the financial barriers of the OSC projects. These financial barriers are associated with the inconsistent cash flow of participants and unclear procurement approaches. Moreover, the adoption of advanced technologies, such as BIM and blockchain, in managing the cash flow of the OSC participants is yet to be addressed. Therefore, this research contributes to the body of knowledge by investigating the financial management and the appropriate contractual relationships (procurement approaches) in OSC projects. The study comprises four main objectives: 1) critically review the literature on construction cash flow management; 2) prioritize the criteria that govern the selection of procurement approaches in OSC projects; 3) Assess different procurement approaches according to the identified criteria; 4) develop an automated cash flow system that mitigates a number of OSC financial barriers.
A mixed review of literature on construction cash flow is adopted using scientometric and systematic review methods to fulfill the research's first objective. The scientometric analysis using science mapping has shown that more attention to the cash flow analysis has been gained in recent years and the United States and the United kingdom contributed most to cash flow research. The systematic analysis has resulted in creating five main categories, and integrating cash flow with schedule uncertainties was the dominant research theme. Consequently, five potential research frontiers are identified that motivated the current research. Two main models are developed to fulfill the rest of the research objectives. First, an MCDM model is developed to accurately assess the performance of various procurement approaches in OSC projects considering various criteria, i.e., project characteristics, cost, and schedule. The required data were collected through a questionnaire survey, while the analytic network process (ANP) and the evidential reasoning (ER) techniques were used to analyze the data. The model results indicate that the funding arrangements and the project quality are the prominent selection factors. On the other hand, the model reveals that the Integrated project delivery (IPD) and the construction management (CM) approaches have the highest utility score. The model results are verified by comparing them to similar studies.
Second, The result obtained from the MCDM model helped create the cash flow management model. The model integrates blockchain and BIM technologies to mitigate some identified OSC financial barriers considering the chosen procurement approach. 4D and 5D BIM models are developed to serve as information sources for the blockchain network. The network is established on the Hyperledger Fabric (HLF) platform using the Hyperledger Composer tool. In addition, a smart contract is developed to execute different transactions among the OSC participants. The developed system enables parties the make transaction securely, with no third-party involvement. The system also mitigates possible disputes by efficient documentation of the submitted claims with respect to a predefined endorsement policy. The developed model is validated by introducing a modular cable-stayed bridge case study. In addition, several scenarios are defined in the case study to test and validate the developed smart contract.
Rights: All rights reserved
Access: restricted access

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