@inproceedings{c6d423671d224280b3bd2b588e0cffbf,
title = "Development of a Cashflow Model for Monitoring Hospital Project Performance",
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.",
keywords = "cashflow model, construction industry, Hong Kong, Hospital projects, monitoring and control, performance modelling, project management, project performance",
author = "Lau, \{Ricky C.K.\} and Kwong, \{John K.S.\} and Chan, \{Albert P.C.\} and Chan, \{M. W.\} and Oppong, \{Goodenough D.\} and Wenque Liu and Amos Darko and Adabre, \{Michael A.\}",
note = "Funding Information: This article was supported by the Hong Kong Polytechnic University and the Research Grants Council (RGC) of the Hong Kong SAR, and it is part of a broader study entitled “Developing a computerized project success index system to monitor and benchmark the performance of hospital projects” (RGC General Research Fund: 15205421). Therefore, it shares similar background literature but distinct scope and objectives with other articles that have been or may be published elsewhere. The Development Bureau of the Hong Kong SAR is also gratefully acknowledged for allowing access to the hospital project database and providing necessary support. Publisher Copyright: {\textcopyright} 2023 by CITC-13.; 13th International Conference on Construction in the 21st Century, CITC 2023 ; Conference date: 08-05-2023 Through 11-05-2023",
year = "2023",
month = may,
language = "English",
series = "International Conference on Construction in the 21st Century",
publisher = "East Carolina University",
editor = "Ahmed, \{Syed M.\} and Salman Azhar and Saul, \{Amelia D.\} and Mahaffy, \{Kelly L.\} and Farooqui, \{Rizwan U.\}",
booktitle = "Proceedings of the 13th International Conference on Construction in the 21st Century, CITC 2023",
address = "United States",
}