Purpose–Recent developments in the construction industry resulted in an increased
importance of collaboration with and managing of suppliers by prime contractors. The focus …

As with all previous editions of Project Management in Construction, this sixth edition
focuses on systems theory as the approach suitable for organizing and managing people …

Purpose–The purpose of this paper is to examine the relative importance of price and trust
and their interaction in subcontractor selection. By doing so, it aims to respond to the …

The actual cost of a construction project is comprised of not only production costs, but also
transaction costs. Transaction costs include but are not limited to the costs of preparing the …

It is widely recognised that improving project delivery in construction requires a
consideration of the culture within the project organisation that is often associated with …

The book explains why the real estate and construction industries are organised in the ways
they are and then relates those characteristics to long-term market behaviour. It covers …

Transaction costs occur when a good or service is transferred across a technologically
separable interface, and include the costs of drafting, negotiating and enforcing an …

Great numbers of traders from different specialisation makes construction industry is a
complicated and unique industry. To overcome the demand on special expertise, advanced …

Purpose–Transaction costs arise from economic exchange rather than production activities.
However, the term “transaction cost” is not consistently defined in the construction industry …

Transaction cost economics deals with costs incurred at the pre-contract phase such as the
costs of conducting market research, exploring financial opportunities, conducting a …