Mark-up on construction projects: what have we learnt in the last 20 years?

Oo, BL; Lim, BTH; Runeson, G

Mark-up on construction projects: what have we learnt in the last 20 years?

Oo, BL Lim, BTH Runeson, G

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Publisher:: Emerald
Publication Type:: Journal Article
Citation:: Engineering, Construction and Architectural Management, 2022
Issue Date:: 2022-01-01

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Field	Value	Language
dc.contributor.author	Oo, BL
dc.contributor.author	Lim, BTH
dc.contributor.author	Runeson, G
dc.date.accessioned	2022-12-15T23:31:15Z
dc.date.available	2022-12-15T23:31:15Z
dc.date.issued	2022-01-01
dc.identifier.citation	Engineering, Construction and Architectural Management, 2022
dc.identifier.issn	0969-9988
dc.identifier.uri	http://hdl.handle.net/10453/164434
dc.description.abstract	Purpose: With the aim to provide a global view of factors affecting mark-up size on construction projects, this study performs a meta-analytical review of the relevant studies over the past 20 years. Design/methodology/approach: The analytical process involved the identification and evaluation of the importance of critical factors affecting mark-up size on construction projects, and the assessment of the generalisability of findings of the meta-analysis. A random-effects model was adopted in the statistical meta-analysis. Findings: The results show that there are 23 critical factors, and the top five factors are: (1) competitiveness of other bidders; (2) number of bidders; (3) relationship and past experience with client; (4) experience on similar project; and (5) project size. A heterogeneity test further shows that there is no statistically significant heterogeneity across the studies, reinforcing the generalisability of the findings to a global context. Research limitations/implications: The list of critical factors from a global perspective should form a good basis for future efforts in bidding model development. Practical implications: The research findings have practical implications to both construction clients and contractors in formulating their contracting practices and strategies. Originality/value: This is the first meta-analysis of a sizeable collection of replicated studies on factors affecting mark-up size on construction projects in the literature.
dc.language	en
dc.publisher	Emerald
dc.relation.ispartof	Engineering, Construction and Architectural Management
dc.relation.isbasedon	10.1108/ECAM-01-2022-0070
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	0905 Civil Engineering, 1202 Building, 1503 Business and Management
dc.subject.classification	Building & Construction
dc.title	Mark-up on construction projects: what have we learnt in the last 20 years?
dc.type	Journal Article
utslib.for	0905 Civil Engineering
utslib.for	1202 Building
utslib.for	1503 Business and Management
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/e-Press
utslib.copyright.status	closed_access	*
dc.date.updated	2022-12-15T23:31:14Z
pubs.publication-status	Published

Abstract:

Purpose: With the aim to provide a global view of factors affecting mark-up size on construction projects, this study performs a meta-analytical review of the relevant studies over the past 20 years. Design/methodology/approach: The analytical process involved the identification and evaluation of the importance of critical factors affecting mark-up size on construction projects, and the assessment of the generalisability of findings of the meta-analysis. A random-effects model was adopted in the statistical meta-analysis. Findings: The results show that there are 23 critical factors, and the top five factors are: (1) competitiveness of other bidders; (2) number of bidders; (3) relationship and past experience with client; (4) experience on similar project; and (5) project size. A heterogeneity test further shows that there is no statistically significant heterogeneity across the studies, reinforcing the generalisability of the findings to a global context. Research limitations/implications: The list of critical factors from a global perspective should form a good basis for future efforts in bidding model development. Practical implications: The research findings have practical implications to both construction clients and contractors in formulating their contracting practices and strategies. Originality/value: This is the first meta-analysis of a sizeable collection of replicated studies on factors affecting mark-up size on construction projects in the literature.

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http://hdl.handle.net/10453/164434