Abstract 4

Assessing the Effects of Site Management Practices on Productivity Levels of Construction Workforce

Construction industry has largely been human resource driven industry. Site workforce plays a vital role in achieving a successful project. Efficient site management is also essential to have productive and cost efficient workforce utilization. Poor site management may result in loss of productivity and hence delays, cost overruns and quality losses.

As for most economies, the construction industry of Pakistan serves as the backbone of the country’s economy. Historically, however, the construction industry of Pakistan has remained plagued with under-performance. Anecdotal evidence suggests that adequate site management can prove to be of vital significance in successfully completing the projects within budget, on schedule and as per required specifications.

The purpose of the study is to highlight the effects of site management practices on the productivity levels of construction workforce. The study has been conducted through investigative visits at various construction sites in Pakistan. It is expected that the conclusions and recommendations from the study will prove to be pivotal in providing a process of improving workforce productivity through better site management, and hence can improve the probability of project success.

Key Words: Productivity levels, Site management, Construction workforce, Productivity improvement, Cost control.

Abstract 3

Assessing the Financial Management Practices in Construction Contracting Organizations in Pakistan

Finance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. Project finance refers to the financing of projects that are dependent on the project’s cash flows for repayment as defined by contractual relationships within each project. Without proper financial planning a new enterprise or project is unlikely to be successful. Construction companies are different from most other companies and are faced with unique challenges and problems not faced by other companies in other industries. Accounting and management of financial resources hence is of utmost importance to the success of a construction organization.

As for most economies, the construction industry of Pakistan serves as the backbone of the country’s economy. Historically, however, the construction industry of Pakistan has remained plagued with under-performance; particularly with respect to cash flow and financial issues. Anecdotal evidence suggests that there is a dire need to adequately and properly use financial management tools and techniques in order to successfully complete the projects within budget, on schedule and as per required specifications.

This study intends to capture the financial accounting and management strategies currently employed by the contractors in the construction industry of Pakistan. It is expected that the outcome of the study would help identify the gaps and obstacles in the successful implementation of financial management practices in the local construction industry. It is also expected that the study will prove to be pivotal in fostering the concept of application of financial management tools and techniques in the local industry.

Key Words: Financial management, Cash flow, Project management, Contractors, Pakistan.

Abstract 2

Exploring business ecologies: Promoting successful partnerships between Australian and Malaysian property and construction professionals

Increasingly Malaysian construction firms are seeking to work internationally. Firms enter international markets through various strategies and typically property and construction professionals rely on developing various forms of cooperative and collaborative arrangements. The common modes of entry include international alliances, project joint ventures, partnerships, company joint ventures and large consortiums; which arise as a response to clients seeking expressions of interests from the international community or the firms seeking to internationalise approaching clients and/or potential host country partners. Increasingly project teams on international mega projects are composed of multiple key partners from different countries coming together to achieve a higher level of strategic flexibility. Establishing and maintaining local connections and business networks are therefore critical to ensure the success of exporting firms. This paper reports on the findings of a project which explores the factors affecting the performance of Malaysian property and construction professionals working internationally through a business ecology lens. For healthy business ecosystems a focus is required on systems thinking, building strong relationships, natural systems, commitment to local and global communities and environments and ecological efficiency. The project develops a performance measurement framework to examine the extent to which Malaysian firms are developing sustainable business models internationally which adapt and respond to changing conditions. A generic framework was initially developed prior to this study through a grounded theory approach merging theory from internationalisation, design management and market knowledge literature followed by a case study empirical investigation and then further literature review based upon the themes which emerged from the case study analysis. A reflexive capability model for firms in managing both economic and non-economic capital; including social, cultural and intellectual capital was developed. This project seeks to build upon the reflexive model by adapting it to the unique contexts related to the specific geographic localities of exporting Malaysian firms. Specifically, the project explores the extent to which the performance measurement framework can be used to map capabilities Malaysian construction firms have and which they need to develop in relation to developing and maintaining international collaborative partnerships through a business ecological lens.