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Amadi, A I and Higham, A (2017) Latent geotechnical pathogens inducing cost overruns in highway projects. Journal of Financial Management of Property and Construction, 22(03), 269-85.

Griffiths, R, Lord, W and Coggins, J (2017) Project bank accounts: the second wave of security of payment?. Journal of Financial Management of Property and Construction, 22(03), 322-38.

Kissi, E, Adjei-Kumi, T, Badu, E and Boateng, E B (2017) Factors affecting tender price in the Ghanaian construction industry. Journal of Financial Management of Property and Construction, 22(03), 252-68.

  • Type: Journal Article
  • Keywords: Construction industry; Structural equation modelling; Ghanaian; Partial least square; Tender price
  • ISBN/ISSN:
  • URL: https://doi.org/10.1108/JFMPC-09-2016-0044
  • Abstract:
    Purpose Tender price remains an imperative parameter for clients in deciding whether to invest in a construction project, and it serves as a basis for tender price index (TPI) manipulations. This paper aims to examine the factors affecting tender price in the construction industry. Design/methodology/approach Based on the literature review, nine independent constructs and one dependent construct relating to tender pricing were identified. A structured questionnaire survey was conducted among quantity surveyors in Ghana. Partial least squares structural equation modelling (PLS-SEM) examined the influences of various constructs on tender price development (TPD) and the relationships among TPD and TPI. Findings Results showed that cultural attributes, client attributes, contractor attributes; contract procedures and procurement methods; consultant and design team; external factors and market conditions; project attributes; sustainable and technological attributes; and TPI have a positive influence on tender price, whereas fraudulent attributes exert a negative influence. Practical implications The findings offer construction professionals broader understanding of factors that affect tender pricing. The results may be used in professional decision-making in the pricing of construction projects, as they offer clearer causal relations between how each construct will influence pricing. Originality/value This study adds to the body of construction pricing knowledge by establishing the relationships and degree of influences of various factors on tender price. These findings provide a valuable reference for practitioners.

Kissi, E, Adjei-Kumi, T, Badu, E and Boateng, E B (2017) Factors affecting tender price in the Ghanaian construction industry. Journal of Financial Management of Property and Construction, 22(03), 252-68.

Lam, T Y M and Siwingwa, N (2017) Risk management and contingency sum of construction projects. Journal of Financial Management of Property and Construction, 22(03), 237-51.

Lowies, B, Viljoen, C and McGreal, S (2017) Investor perspectives on property crowdfunding: evidence from Australia. Journal of Financial Management of Property and Construction, 22(03), 303-21.

Oyegoke, A S and Al Kiyumi, N (2017) The causes, impacts and mitigations of delay in megaprojects in the Sultanate of Oman. Journal of Financial Management of Property and Construction, 22(03), 286-302.