PPMP20015 Research In Project Management 3 Essay

Question:

Topic : Examining the impact of delay in payments of construction projects in Australia need to write critical review report
The report must substantially include the following components:
1.A description of the topic using a supplied tool.
2.A summary of the most relevant article to the topic.
3.A critical appraisal of the article.
4.Preliminary research questions.
5.Your personal reflection.

Answer:

Introduction

The topic selected for this report is “Impact of delay in payments of construction projects in Australia”. This particular topic was selected by making use of research generation tool which is provided as a part of available resources. This particular topic has been aligned with the proper interest of various researchers. Construction delays are considered to be the most costly part in completing any project.

In the coming pages of the three journal articles has been reviewed in details. All the three article has been provided along with a proper citation. After that critical appraisal has been done with respect to all the article provided. Along with a list of preliminary question has been provided with respect to the topic. In the end, a self-reflection has been provided after reviewing all the article.

Table of identified source

Journal Articles

Keywords

Project management Contracts with delayed payments

Cost of delay in delay construction projects in Australia

The Likelihood of subcontractor payment

The Effect of Payment Delay on Construction Projects in Gaza Strip

Citation

Kwon, H.D. and Yoo, O.S., 2017. Retention of capable new employees under uncertainty: Impact of strategic interactions. IISE Transactions, 49(10), pp.927-941.

Aziz, R.F. and Abdel-Hakam, A.A., 2016. Exploring delay causes of road construction projects in Australia. Alexandria Engineering Journal, 55(2), pp.1515-1539.

Hanh Tran, David G. Carmichael, (2012) "The likelihood of subcontractor payment: Downstreamprogression via the owner and contractor", Journal of Financial Management of Property and Construction,

Vol. 17 Issue: 2, pp.135-152,

El-Sawalhi, N.I. and Nasser, A.H., 2015. Support Vector Machine to Measure the Risk of Payment Delay on Construction Projects in Gaza Strip. IUG Journal of Natural Studies, 23(2).

Article Summary

The construction industry is a vital industry which is involved in the development of Ghazi strip. The process of payment is known to be an important part in construction industry or domain. Any kind of delay in construction strip can easily result in dispute in the construction of Ghazi strip. The ultimate goal of this article is to analyze the various cause and effect which are involved in the delay of payments. It helps in analyzing the effective kind of solution which helps in overcoming various risk and effect of payment delay in Gaza Strip construction. In this, various kinds of tools have been discussed like critical path method and project evaluation technique. These particular tools are considered to be effective for understanding the uncertainty understanding the completion time and project cost. Apart from this, there is a certain number of ways which can be used for managing the projects with considerable uncertainty which arises in construction, development and any kind of defense. It is important for customers to easily analyze any contracts which suppliers have after the completing any task. But currently, there are mainly instances in manufacture poses “Delay Payment” in which supplier is paid only when he has completed the task.

The ultimate goal of this paper is to analyze various kinds of risk which can arise in a delay of payments. The ultimate goal of this paper is to have an analysis of the three vital section like the cause of delay in payments, the proper solution to over the problems. A list of question has been put to certain section like contractors, owners and lastly opinions of consultants. The last question is to develop support vector machine that is the SVM model for measuring risk. The paper mainly checks the list of reasons for the delay in construction projects in Australia which is the point of view of contractors and owners. It also discusses the importance of consultancy in reducing delay in large projects and along with it showed possible ways of managing delay like internal and external, financial and non-financial.

Critical Appraisal

The construction industry is taken to a vital domain which is used for development of Gaza Strip. Method of payment is considered to be a vital factor for any industry. Delay in payments to different contractors is considered to be a vital factor for dispute in the construction industry of Gaza Strip. The ultimate goal of this research is to easily identify the various cause and effects of payment delays. The article (El-Sawalhi and Nasser, 2015) states that the best ways to overcome the effects the risk of payment and delay in the construction industry in Gaza Strip is to easily formulate a model which can be used for measuring various kinds of risk involved in delay of payments. The ultimate goal of this paper is to analyze three section that are payment delay, possible effects of delay in payments and proper methods to mitigate the solution.

Many multinational organizations have expanded their operation in Australia due to management activities. The paper (Kwon and Yoo, 2017) describes two kinds of payments that are delay payments and no-delay payments. Under the conventional rule, no kind of delay in payment is seen when the supplier receives the payment after the completion of the project. But under the matters of delay payment, it is seen that all the suppliers can easily complete the task as per the requirement. The construction project is considered one of the vital factors which affect the economy of this country. With the development of economics in Australia, building construction is a much larger portion of the whole construction domain. In this paper (Hanh Tran, David G. Carmichael, 2012), a list of factors has been discussed which is considered to be important for any construction project in Australia. The main cause of project delay is owner, consultant and lastly contractors. The paper (Aziz and Abdel-Hakim, 2016) discusses the fact that contractors need to manage all the financial affairs along with understanding the importance of receiving payments for the given work by various owners. Contractors show a delay in payments to subcontractors for improving the flow of cash at the time when payments are late. Unscrupulous contractors many times take advantage of any kind of small contracts which is done due to delay in payments without any proper reasons.

Preliminary question

After analyzing the three articles of the topic “Impact of delay in payments of construction projects in Australia”, it can be easily concluded that the research question is all about the delay in a construction project.

The main questions of this research are

How can a supplier adjust his/ her rate of work, manufacture of optimal profit?

Giving a revenue regarding the payment p, then what is supplier optimal work rate?

What is the condition of one regime profit from various manufacturers?

Personal Reflection

I have learned a large number of reasons behind the delay of a construction project in Australia. This has become possible due to the undertaking of course which is provided by the university. Along with this, I have learned about a large number of things from both the tutor and website. I have gained all kinds of information and support which is needed for completing the assignment independent way.

Conclusion

From the above discussion, it can be concluded that this report is all about understanding “Impact of delay in payments of construction projects in Australia”. For this particular topic, three articles have been reviewed. These three articles have helped in understanding the topic in a much better way. In the above pages of the report, some important aspects have been discussed like a summary of each and every article, critical appraisal, research question and lastly personal reflection has been provided. The ultimate goal of this paper is to easily identify a large number of the cause behind the delay in projects. The most vital kind of factors which is taken into consideration is a delay in the value of contractors, change in owner or agent during any kind of construction and a proper normalization.

References

Aziz, R.F., and Abdel-Hakim, A.A., 2016. Exploring delay causes of road construction projects in Australia. Alexandria Engineering Journal, 55(2), pp.1515-1539.

El-Sawalhi, N.I. and Nasser, A.H., 2015. Support Vector Machine to Measure the Risk of Payment Delay on Construction Projects in Gaza Strip. IUG Journal of Natural Studies, 23(2).

Hanh Tran, David G. Carmichael, (2012) "The likelihood of subcontractor payment: Downstreamprogression via the owner and contractor", Journal of Financial Management of Property and Construction, Vol. 17 Issue: 2, pp.135-152,

Kwon, H.D. and Yoo, O.S., 2017. Retention of capable new employees under uncertainty: Impact of strategic interactions. IISE Transactions, 49(10), pp.927-941.

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