Year-end Sale % OFF 
Abstract
The development of road infrastructure is closely related to national competitiveness and presents significant socioeconomic impacts. However, road construction involves a large budget and is vulnerable to political, economic, social, and project-specific risks, which often result in cost overruns and schedule delays. Assessing the gap between the final performance and the planned performance, and providing feedback to similar projects in the future is essential for successful project planning and management. The aim of this study is to empirically analyze the cost and schedule growth of road construction projects, considering project characteristics. Using the national-level project performance data, the primary goal is to answer, “Do project characteristics influence the road project performance? If so, how different is the performance because of the project characteristics?” To this end, this study analyzes the cost and schedule growth of 423 road construction projects, considering five project characteristics: facility type, construction type, bid type, contract type, and project size. Non-parametric tests (the Mann–Whitney U test and the Kruskal–Wallis test) are used to analyze the differences between sample groups. The results demonstrate (1) better management of the performance of the highway when compared to the national and provincial roads; (2) higher schedule growth of the expansion and renovation than that of the new construction; (3) lower cost growth of the design-build method (turnkey and alternative) than the design-bid-build methods (qualification examination and lowest price); and (4) relatively larger cost and schedule growth for projects over $50 million than those of smaller projects. These results present empirical references from the Korean construction industry that can help construction-related entities (clients, design consultants, and contractors) to estimate and manage the cost and schedule buffers of future projects by considering different project characteristics. Discussions and suggestions connected with the findings are also provided. Future research will continue to shed light on the critical factors affecting the cost and schedule growth.
Highlights
Introduction published maps and institutional affilRoad infrastructure can be considered as the “blood vessels” of national territory and has significant socio-economic impacts including urbanization, industrialization, employment, and real estate development [1,2,3]
Among the extensive range of project performance management styles, this study focuses on road construction projects, which account for the majority of the performance data, and performs a comparative analysis of the cost and schedule growth, considering diverse project characteristics
The Mann–Whitney U test is applied for two sample groups, the Kruskal–Wallis test is applied for three groups, and the Bonferroni correction method is applied for post-hoc comparisons
Summary
Road infrastructure can be considered as the “blood vessels” of national territory and has significant socio-economic impacts including urbanization, industrialization, employment, and real estate development [1,2,3]. Road infrastructure reduces the logistics and production costs by indirectly supporting production activities, and increases the national competitiveness by increasing employment, income, and technological innovation through government investment expenditure [4]. Considers the level of infrastructure development as an important factor in evaluating a country’s competitiveness [5]. The road connectivity and quality have been assessed and monitored in the case of road infrastructure to provide objective information for individual countries. According to the IHS Markit [6], the size of the Korean transportation market is approximately $36.9 billion, and is the ninth largest market out of 74 countries, as of iations
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
