Development of a Cashflow Model for Monitoring Hospital Project Performance

Ricky C.K. Lau, John K.S. Kwong, Albert P.C. Chan, M. W. Chan, Goodenough D. Oppong, Wenque Liu, Amos Darko, Michael A. Adabre

Research output: Chapter in book / Conference proceedingConference article published in proceeding or bookAcademic researchpeer-review

Abstract

Hospital projects, given their unique characteristics and features, are distinct from other types of construction projects. The development of hospital projects faces several challenges due to rapidly changing user requirements, multiple healthcare policy frameworks, and complexity of process. To keep success rates high, there is a need to support project management efforts and decisions with appropriate monitoring and control tools. This study develops a cashflow model for monitoring the performance of hospital projects in the construction industry of Hong Kong. The normalization and percentile techniques were integrated in analyzing the monthly cashflow data of public hospital projects completed in the past 20 years and constructing the model. The model provides alerts for three types of project performance, namely, green (or normal), yellow, and red performance. It helps in foreseeing existing or potential challenges in ongoing hospital projects and providing early warning signals for corrective actions to be taken effectively and in a timely manner. This study contributes to the Project Management Body of Knowledge by developing a model for enhancing hospital project delivery.

Original languageEnglish
Title of host publicationProceedings of the 13th International Conference on Construction in the 21st Century, CITC 2023
EditorsSyed M. Ahmed, Salman Azhar, Amelia D. Saul, Kelly L. Mahaffy, Rizwan U. Farooqui
PublisherEast Carolina University
ISBN (Electronic)9781732441644
Publication statusPublished - May 2023
Event13th International Conference on Construction in the 21st Century, CITC 2023 - Arnhem, Netherlands
Duration: 8 May 202311 May 2023

Publication series

NameInternational Conference on Construction in the 21st Century
Volume2023-May
ISSN (Electronic)2640-1177

Conference

Conference13th International Conference on Construction in the 21st Century, CITC 2023
Country/TerritoryNetherlands
CityArnhem
Period8/05/2311/05/23

Keywords

  • cashflow model
  • construction industry
  • Hong Kong
  • Hospital projects
  • monitoring and control
  • performance modelling
  • project management
  • project performance

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Building and Construction
  • Management of Technology and Innovation

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