Abstract
Construction industry is one of the major drivers of the economic sustainability of China’s provinces. An investigation of the status of the construction industry in China is needed to find out its maturity and health. The results of this investigation may help China define the impact factors required in order to promote the growth level of its construction industry. This research assesses the growth level of the construction industry in Shaanxi Province, China. This study utilizes both the original average score method and the newer entropy method to analyze the growth level of the construction industry based on its growth management model and growth drivers. An empirical survey of this research includes 123 construction companies in Shaanxi Province. The results show that the entropy method is better than the average score method to use when analyzing the maturity status of a local industry for future development. The maturity level of Shaanxi’s construction industry lies on the second tier in a four-tier ranking system. The advanced professional skills of project management are critically needed for future growth. Brand building is the most important factor needed to drive up Shaanxi’s construction industry. Standardization, knowledge management through lessons learned, and cost management for budget control by using information systems are required for Shaanxi’s construction project management. The Excellent Project Management Model of China is often used in Chinese project knowledge management. After maturity analysis, China’s local industries would be able to develop a sustainable strategy for optimizing their outcomes by removing the hurdles preventing future growth.
Highlights
China’s construction sector is crucial to the country’s economic development, while competition has become significant and aggressive
McIntyre [20] explains a process for finding out the appropriate level of the growth management model (GMM) through a consortium of industry advisory boards, committees, and councils; the American Council for Construction Education has chosen this model as a standard
In order to justify the validity of the original GMM framework by using an average score method, according to the American Council of Construction Education (ACCE), we chose the entropy method as the proposed alternative to comparatively analyze the growth management position in order to target the transition step in the sustainable development of the construction industry transition process
Summary
China’s construction sector is crucial to the country’s economic development, while competition has become significant and aggressive. The Ministry of Construction is the main supervisor in the sector through the effective application of three major laws: construction law, contract law and tendering and bidding law These regulations allow companies to operate as commercial entities, mainly through competitive bidding [1]. The growth management of China’s construction industry needs to emphasis each province’s context in order to understand its status in the transition period and to achieve a comprehensive upgrade. The research results may be a good foundation in understanding the transition process of construction industry management in China when developing its management strategy. They are useful to similar industries which may need improvement in developing their own approaches to managing economic sustainability.
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