Danish contractor’s application of the budget
The construction contractors compete in a low-profit industry, this makes cost-performance and the accuracy and the application of the budget critical. Despite the importance of a highly effective cost management, no studies have currently examined how construction contractors apply the budget. To...
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| Format: | Article |
| Language: | English |
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UTS ePRESS
2024-09-01
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| Series: | Construction Economics and Building |
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| Online Access: | https://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/8417 |
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| author | Søren Lindhard |
| author_facet | Søren Lindhard |
| author_sort | Søren Lindhard |
| collection | DOAJ |
| description |
The construction contractors compete in a low-profit industry, this makes cost-performance and the accuracy and the application of the budget critical. Despite the importance of a highly effective cost management, no studies have currently examined how construction contractors apply the budget. To determine how construction contractors apply budgets, a questionnaire study has been conducted, which included 128 construction professionals, from varying job-positions of whom 67 completed it, corresponding to 52.3%. The participants rated their budget application with regards to six categories. Afterwards a statistical analysis was applied to identify ranks, differences and correlations between categories and across job-positions. A Kendall’s Tau correlation test revealed a positive correlation between the categories and their application, and a Friedman’s Rank test identified the following rank between the categories: Management, Control, Planning, Motivation, Communication and Coordination. Finally, a multinomial regression analysis revealed that a higher hierarchical position entails a higher application of the budget for all categories but motivation. The new insights to budget application are highly relevant for construction professionals carrying out cost-management. The findings can be to make a better fit between application and the presentation of the budget, thereby strengthening the managerial capability of the budget.
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| format | Article |
| id | doaj-art-2987b78a9df24c09ae300d8c14f0367a |
| institution | Kabale University |
| issn | 2204-9029 |
| language | English |
| publishDate | 2024-09-01 |
| publisher | UTS ePRESS |
| record_format | Article |
| series | Construction Economics and Building |
| spelling | doaj-art-2987b78a9df24c09ae300d8c14f0367a2024-12-18T05:10:04ZengUTS ePRESSConstruction Economics and Building2204-90292024-09-01244/510.5130/AJCEB.v24i4/5.8417Danish contractor’s application of the budgetSøren Lindhard0{'en_US': 'Aalborg University'} The construction contractors compete in a low-profit industry, this makes cost-performance and the accuracy and the application of the budget critical. Despite the importance of a highly effective cost management, no studies have currently examined how construction contractors apply the budget. To determine how construction contractors apply budgets, a questionnaire study has been conducted, which included 128 construction professionals, from varying job-positions of whom 67 completed it, corresponding to 52.3%. The participants rated their budget application with regards to six categories. Afterwards a statistical analysis was applied to identify ranks, differences and correlations between categories and across job-positions. A Kendall’s Tau correlation test revealed a positive correlation between the categories and their application, and a Friedman’s Rank test identified the following rank between the categories: Management, Control, Planning, Motivation, Communication and Coordination. Finally, a multinomial regression analysis revealed that a higher hierarchical position entails a higher application of the budget for all categories but motivation. The new insights to budget application are highly relevant for construction professionals carrying out cost-management. The findings can be to make a better fit between application and the presentation of the budget, thereby strengthening the managerial capability of the budget. https://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/8417Contractors, Budget, Cost Management, Economy, Construction Management |
| spellingShingle | Søren Lindhard Danish contractor’s application of the budget Construction Economics and Building Contractors, Budget, Cost Management, Economy, Construction Management |
| title | Danish contractor’s application of the budget |
| title_full | Danish contractor’s application of the budget |
| title_fullStr | Danish contractor’s application of the budget |
| title_full_unstemmed | Danish contractor’s application of the budget |
| title_short | Danish contractor’s application of the budget |
| title_sort | danish contractor s application of the budget |
| topic | Contractors, Budget, Cost Management, Economy, Construction Management |
| url | https://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/8417 |
| work_keys_str_mv | AT sørenlindhard danishcontractorsapplicationofthebudget |