Cost-Benefit Analysis and Globalization

¶ … Vaughan, J.L., Leming, M.L.M., Liu, M., & Jaselskis, E., 2013. Cost-Benefit Analysis of Construction Information Management System Implementation: Case Study. Journal of Construction Engineering and Management.

Managers working within construction projects encounter significant expenditure of resources in collecting project data, evaluating production rates, and exchanging information with project stakeholders. The paper focuses on the execution of project tasks through manual reduction of inefficiency as well as improved effective operations in project management. For purposes of improving success rates in information process flow, the authors point out that different forms of information systems are necessary for construction management. The paper introduces their efficiency to the construction projects.

On the other hand, the difficulties involved in tracking illusive and fragmental information are addressed. The paper allows for better approaches to assessing costs against benefits of project implementation. The other goal of the research is to evaluate the major trade-offs challenging construction practitioners. The research's contributions engrave the knowledge that proposes various frameworks of assessing both tangible and semi-tangible costs and benefits from the application of innovative construction technology. The other objective was to determine the costs and benefits in the application of CIMSs through product-specific case studies. The study also summarizes lessons acquired in the CIMS application among firsthand users. This means that construction managers can avoid pitfalls among different projects (Nuntasunti & Bernold, 2006). The study avails data collection procedures that take a real-time immersion of projects and project teams over a period of six months. The research study realized that the application of CIMSs and mobile technologies were influential in increasing efficiencies. The engagements also decreased the clerical time regarding construction personnel at the operations level. It is for this reason that increased value is based on projects and improvement of allocations from managerial time. Internal observation as well as analysis avail useful guidance to project managers in the implementation of CIMS among construction projects.

Theoretical Framework

The authors mention that the past decades have been marked by research that examined trade-offs between costs and benefits for innovative construction technology or processes. Previous critics only considered qualitative components of cost-benefit analysis and survey data were the main source of information after project completion. Subsequent research explored quantitative benefits that partly or entirely dwelt on theoretical examples. Minimal research was conducted through systematic frameworks in measuring intangible and tangible benefits and costs from empirical project data. Needs exists in the discovery of real impact innovations using real case study such as the collection of various survey data and project as compared to afterward development of repeatable methods (Nuntasunti & Bernold, 2006). The authors use this background in determining efficiency gains according to construction management software. The research addresses the needs through provision of frameworks to measure the costs as well as benefits linked to information management software in construction projects. The components also refer collected data as active case studies in the analysis of costs and benefits while assessing the features linked to construction management software.

Situating the study within the research already conducted in the field

Further investigation is required in identifying the projects are suited for different forms of innovative technologies. In accruing benefits, implementation and maintenance costs of CIMS as well as associated hardware need not outdo the benefits availed. Determination requires proper idealization of project criticality, size, duration, contract type, complexity level; number of subcontractors involved and project team dynamics. Other considerations include the kinds of technology and hardware in the possession of the project manager.

The authors emphasize on further research regarding issues of the CM topic based on technologies and conducted multitudes. The scope of new hardware and software dictate differences in implementation strategies as developed through new mobile platforms and programs. The continued pace of developments arriving at the market at rapid speeds calls for a change in tactic. On the contrary, future case studies can specialize in the research to improve assessment of various technologies. The researchers provide detailed analysis of the overall CM time as well as cost savings to be used in evaluating CM technology implementations. Most innovations call for various forms of investment. The investments pertain to the scope of learning that new means, construction practices, and methods spend resources on upcoming innovative construction technologies. The innovations are perceived to be investments as spending resources on them will eventually amount in gains and returns on initial investment. The establishment of effective time management scales provides pre-CIMS baseline for scalable metrics as established through frameworks of other CMs. Project managers work through similar-sized projects in evaluating an application of construction information and mobile management software (Becerik-Gerber & Rice, 2010).

Research Approach

The study research has collected data from natural settings without experimental controls. The study's goal was to identify the primary causes, effects, and formulate relationships. The study had focused on inputs on quantitative data. The extensive implications of the study are that the emerging trends tend to extract identifiable benefits through global outsourcing. This is because there is a prestigious approach to accounting for suppliers and the override of the learning curve above their competitors (Lim, Schultmann & Ofori, 2010). The study materializes on the benefits of waiting due to learning from initial adopters and explicit mistakes made. However, the concept does not have complete bypass over experiential learning in gaining tacit knowing. The research team has addressed troubles in gaining the attention of intended audiences.

Is the methodology clearly and fully reported