Integration of financial and contract management on the shanghai expo construction program

Yun Le, Yuhong Wang, Cheng Luo, Yong Peng

Research output: Journal article publicationJournal articleAcademic researchpeer-review

2 Citations (Scopus)

Abstract

The management of facility construction for hallmark events is critically important for their financial viability. However, little knowledge has been produced regarding the management of this type of construction. Based on the construction program for the Shanghai Expo 2010 and other cases reported in the literature, this paper provides an analysis of the common characteristics of construction for hallmark events, the challenges of financial management due to these characteristics, techniques to address these challenges, and lessons learned from the Expo construction. It is believed that one critical factor that contributes to the success of the Expo construction program is the integration of the financial management and contract management processes, assisted by a specifically designed computer program. The techniques used to integrate the two processes involve (1) mapping the program's work breakdown structure, cost breakdown structure, and contract breakdown structure; (2) integrating the information flow between the two processes; and (3) automation in information generation, dissemination, and storage. Areas that may be further improved in managing construction programs of a similar nature are also discussed.
Original languageEnglish
Pages (from-to)738-748
Number of pages11
JournalJournal of Construction Engineering and Management
Volume139
Issue number6
DOIs
Publication statusPublished - 1 Jun 2013

Keywords

  • Computer software
  • Construction costs
  • Contracts
  • International development
  • Project management

ASJC Scopus subject areas

  • Civil and Structural Engineering
  • Building and Construction
  • Industrial relations
  • Strategy and Management

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