Factors influencing final account settlement in construction projects

Chun Pong Sing; Peter E D Love; Jim  Smith; Chi-Ming Tam

Factors influencing final account settlement in construction projects

Chun Pong Sing, Peter E D Love, Jim Smith, Chi-Ming Tam

Centre for Comparative Construction Research

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Research › peer-review

Abstract

The assessment and agreement of a final account in construction projects can be a difficult and time-consuming process to negotiate. Any delay of final account settlement can have an adverse impact on the cash flow of contractual parties such as contractors. A questionnaire survey was used to collect the perspective of experienced quantity surveyors’on the key factors influencing the settlement of a final account. Ranking and factor analysis were applied to determine the most significant factors in influencing the settlement of a final account. The results revealed that ‘time’ and ‘variation’ (i.e. change orders) were the most significant factors.

Original language	English
Title of host publication	Proceedings of the RICS COBRA Conference (online)
Editors	C Eriksson
Publisher	Royal Institute of Chartered Surveyors (RICS)
Pages	1-7
Number of pages	7
Publication status	Published - 2013
Event	Royal Institution of Chartered Surveyors, COBRA 2013 - New Delhi, New Delhi, India Duration: 10 Sep 2013 → 12 Sep 2013

Conference

Conference	Royal Institution of Chartered Surveyors, COBRA 2013
Abbreviated title	RICS COBRA 2013
Country/Territory	India
City	New Delhi
Period	10/09/13 → 12/09/13

Cite this

@inproceedings{56b8b7ba6a9d46e887e4781bca33d5e2,

title = "Factors influencing final account settlement in construction projects",

abstract = "The assessment and agreement of a final account in construction projects can be a difficult and time-consuming process to negotiate. Any delay of final account settlement can have an adverse impact on the cash flow of contractual parties such as contractors. A questionnaire survey was used to collect the perspective of experienced quantity surveyors{\textquoteright}on the key factors influencing the settlement of a final account. Ranking and factor analysis were applied to determine the most significant factors in influencing the settlement of a final account. The results revealed that {\textquoteleft}time{\textquoteright} and {\textquoteleft}variation{\textquoteright} (i.e. change orders) were the most significant factors.",

author = "Sing, {Chun Pong} and Love, {Peter E D} and Jim Smith and Chi-Ming Tam",

year = "2013",

language = "English",

pages = "1--7",

editor = "C Eriksson",

booktitle = "Proceedings of the RICS COBRA Conference (online)",

publisher = "Royal Institute of Chartered Surveyors (RICS)",

note = "Royal Institution of Chartered Surveyors, COBRA 2013, RICS COBRA 2013 ; Conference date: 10-09-2013 Through 12-09-2013",

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Factors influencing final account settlement in construction projects. / Sing, Chun Pong; Love, Peter E D; Smith, Jim et al.

Proceedings of the RICS COBRA Conference (online). ed. / C Eriksson. Royal Institute of Chartered Surveyors (RICS), 2013. p. 1-7.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Research › peer-review

TY - GEN

T1 - Factors influencing final account settlement in construction projects

AU - Sing, Chun Pong

AU - Love, Peter E D

AU - Smith, Jim

AU - Tam, Chi-Ming

PY - 2013

Y1 - 2013

N2 - The assessment and agreement of a final account in construction projects can be a difficult and time-consuming process to negotiate. Any delay of final account settlement can have an adverse impact on the cash flow of contractual parties such as contractors. A questionnaire survey was used to collect the perspective of experienced quantity surveyors’on the key factors influencing the settlement of a final account. Ranking and factor analysis were applied to determine the most significant factors in influencing the settlement of a final account. The results revealed that ‘time’ and ‘variation’ (i.e. change orders) were the most significant factors.

AB - The assessment and agreement of a final account in construction projects can be a difficult and time-consuming process to negotiate. Any delay of final account settlement can have an adverse impact on the cash flow of contractual parties such as contractors. A questionnaire survey was used to collect the perspective of experienced quantity surveyors’on the key factors influencing the settlement of a final account. Ranking and factor analysis were applied to determine the most significant factors in influencing the settlement of a final account. The results revealed that ‘time’ and ‘variation’ (i.e. change orders) were the most significant factors.

M3 - Conference contribution

SP - 1

EP - 7

BT - Proceedings of the RICS COBRA Conference (online)

A2 - Eriksson, C

PB - Royal Institute of Chartered Surveyors (RICS)

T2 - Royal Institution of Chartered Surveyors, COBRA 2013

Y2 - 10 September 2013 through 12 September 2013

ER -

Factors influencing final account settlement in construction projects

Abstract

Conference

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