ARCOM

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Adinyira, E, Manu, P, Agyekum, K, Mahamadu, A and Olomolaiye, P O (2020) Violent behaviour on construction sites: structural equation modelling of its impact on unsafe behaviour using partial least squares. Engineering, Construction and Architectural Management, 27(10), 3363–93.

Aghimien, D O, Aigbavboa, C O and Oke, A E (2020) Critical success factors for digital partnering of construction organisations – a Delphi study. Engineering, Construction and Architectural Management, 27(10), 3171–88.

Ahiaga-Dagbui, D D, Tokede, O, Morrison, J and Chirnside, A (2020) Building high-performing and integrated project teams. Engineering, Construction and Architectural Management, 27(10), 3341–61.

Alleman, D and Lee, E (2020) Mitigating the legal challenges of imposing disincentives on nonperforming transportation projects. Engineering, Construction and Architectural Management, 27(10), 2859–91.

Arbabi, H, Salehi-Taleshi, M and Ghods, K (2020) The role of project management office in developing knowledge management infrastructure. Engineering, Construction and Architectural Management, 27(10), 3261–87.

Bevan, W, Lu, S and Sexton, M (2020) Skills required to deliver energy efficient school retrofit buildings. Engineering, Construction and Architectural Management, 27(10), 3051–73.

Huynh, T T, Dang, C N, Le-Hoai, L, Pham, A and Nguyen, T D (2020) Proposing a strategy map for coastal urban project success using the balanced scorecard method. Engineering, Construction and Architectural Management, 27(10), 2993–3030.

Irfan, M, Malik, M S A and Kaka Khel, S S U H (2020) Effect of factors of organizational structure influencing nonphysical waste in road projects of developing countries. Engineering, Construction and Architectural Management, 27(10), 3135–53.

Kim, S Y, Nguyen, M V and Luu, V T (2020) A performance evaluation framework for construction and demolition waste management: stakeholder perspectives. Engineering, Construction and Architectural Management, 27(10), 3189–213.

Lin, Y, Guo, Y, Kim, C, Chen, P and Qian, M (2020) The impact of relational governance on the adaptability of international contractors: a comparative study between China and Korea. Engineering, Construction and Architectural Management, 27(10), 3235–59.

Liu, B, Xue, B, Meng, J, Chen, X and Sun, T (2020) How project management practices lead to infrastructure sustainable success: an empirical study based on goal-setting theory. Engineering, Construction and Architectural Management, 27(10), 2797–833.

Loosemore, M, Higgon, D and Osborne, J (2020) Managing new social procurement imperatives in the Australian construction industry. Engineering, Construction and Architectural Management, 27(10), 3075–93.

Olanrewaju, O I, Chileshe, N, Babarinde, S A and Sandanayake, M (2020) Investigating the barriers to building information modeling (BIM) implementation within the Nigerian construction industry. Engineering, Construction and Architectural Management, 27(10), 2931–58.

Oshodi, O, Edwards, D J, lam, K C, Olanipekun, A O and Aigbavboa, C O (2020) Construction output modelling: a systematic review. Engineering, Construction and Architectural Management, 27(10), 2959–91.

Song, Z, Yang, F, Boezeman, E J and Li, X (2020) Do new-generation construction professionals be provided what they desire at work? A study on work values and supplies–values fit. Engineering, Construction and Architectural Management, 27(10), 2835–58.

Sun, C, Xu, H and Jiang, S (2020) Understanding the risk factors of BIM technology implementation in the construction industry: an interpretive structural modeling (ISM) approach. Engineering, Construction and Architectural Management, 27(10), 3289–308.

Sun, M, Zhu, F and Sun, X (2020) Influencing factors of construction professionals’ burnout in China: a sequential mixed-method approach. Engineering, Construction and Architectural Management, 27(10), 3215–33.

Türkakın, O H, Manisalı, E and Arditi, D (2020) Delay analysis in construction projects with no updated work schedules. Engineering, Construction and Architectural Management, 27(10), 2893–909.

Tong, R, Zhang, N, Wang, X and Zhao, H (2020) Impact of safety management system on safety performance: the mediating role of safety responsibility. Engineering, Construction and Architectural Management, 27(10), 3155–70.

Vahdatmanesh, M and Firouzi, A (2020) Construction material supply risk management using Asian option contracts: the case of a pipeline project. Engineering, Construction and Architectural Management, 27(10), 3395–414.

• Type: Journal Article
• Keywords: Pipeline projects; Asian options; Price risk; Supply management;
• ISBN/ISSN: 0969-9988
• URL: https://doi.org/10.1108/ECAM-02-2019-0102
• Abstract:
  Steel price uncertainty exposes pipeline projects that are inherently capital intensive to the risk of cost overruns. The current study proposes a hedging methodology for tackling steel pipeline price risk by deploying Asian option contracts that address the shortcomings of current risk mitigation strategies. A stepwise methodology is introduced, which uses a closed-form formula as an Asian option valuation method for calculating this total expenditure. The scenario analysis of three price trends examines whether or not the approach is beneficial to users. The sensitivity analysis then has been conducted using the financial option Greeks to assess the effects of changes in volatility in the total price of the option contracts. The total price of the Asian options was then compared with those of the European and American options. The results demonstrate that the Asian option expenditure was about 1.87% of the total cost of the case study project. The scenario analysis revealed that, except for when the price followed a continuous downward pattern, the use of this type of financial instrument is a practical approach for steel pipeline price risk management. This approach is founded on a well-established financial options theory and elucidates how pipeline project participants can deploy Asian option contracts to safeguard against steel price fluctuations in practice. Although the literature exists about the theory and application of financial derivative instruments for risk management in other sectors, their application to the construction industry is infrequent. In the proposed methodology, all participants involved in fixed price pipeline projects readily surmount the risk of exposure to material price fluctuations.

Wang, Y, Ye, G, Zhang, Y, Mu, P and Wang, H (2020) Total factor productivity growth and its contribution: lessons from the Chinese construction industry pre- and post-2008 financial crisis. Engineering, Construction and Architectural Management, 27(10), 2911–29.

Zhang, L, Dai, G, Zou, X and Qi, J (2020) Robustness-based multi-objective optimization for repetitive projects under work continuity uncertainty. Engineering, Construction and Architectural Management, 27(10), 3095–113.

Zhang, N, Hwang, B, Deng, X and Tay, F (2020) Collaborative contracting in the Singapore construction industry: current status, major barriers and best solutions. Engineering, Construction and Architectural Management, 27(10), 3115–33.

Zhang, Q, Chong, H, Liao, P and Wan, Y (2020) Logistic regression modeling of implementation of corporate safety policy in international infrastructures. Engineering, Construction and Architectural Management, 27(10), 3031–50.

Zhang, Y, Luo, W, Shan, M, Pan, D and Mu, W (2020) Systematic analysis of PPP research in construction journals: from 2009 to 2019. Engineering, Construction and Architectural Management, 27(10), 3309–39.