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Bassioni, H A, Price, A D F and Hassan, T M (2005) Building a conceptual framework for measuring business performance in construction: an empirical evaluation. Construction Management and Economics, 23(05), 495-507.

Chan, J K W, Tam, C M and Cheung, R (2005) Monitoring financial health of contractors at the aftermath of the Asian economic turmoil: a case study in Hong Kong. Construction Management and Economics, 23(05), 451-8.

Ellis, R C T, Wood, G D and Keel, D A (2005) Value management practices of leading UK cost consultants. Construction Management and Economics, 23(05), 483-93.

Kirkham, R J and Boussabaine, A H (2005) Forecasting the residual service life of NHS hospital buildings: a stochastic approach. Construction Management and Economics, 23(05), 521-9.

  • Type: Journal Article
  • Keywords: Service life; forecasting; minimum of exponentials; hospital buildings; probability; Markov chain; stochastic forecasting
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/0144619042000326729
  • Abstract:

    Service life appraisal is an important facet of the management of the NHS estate portfolio. Existing approaches to remaining service life estimation use simple deterministic methods, which could yield inaccurate results. An alternative approach to forecasting the remaining life of hospital buildings, based upon a combination of weighted average techniques and a Markov property; the minimum of exponentials, is presented. The results from this model were compared with those obtained by means of existing techniques, and revealed an average percentage difference of 56.26%. This confirms the notion that stochastic approaches in combination with elemental weightings could yield greater accuracy. Whilst the results obtained can be used primarily to determine the overall residual service life of a hospital building, the model also allows the condition state transition probabilities to be calculated at a given time. On the macro level, this information can be used for optimization of maintenance strategies.

Lee, S-H, Thomas, S R and Tucker, R L (2005) The relative impacts of selected practices on project cost and schedule. Construction Management and Economics, 23(05), 545-53.

Li, B, Akintoye, A, Edwards, P J and Hardcastle, C (2005) Critical success factors for PPP/PFI projects in the UK construction industry. Construction Management and Economics, 23(05), 459-71.

Ling, F Y Y, Ibbs, C W and Cuervo, J C (2005) Entry and business strategies used by international architectural, engineering and construction firms in China. Construction Management and Economics, 23(05), 509-20.

Nyström, J (2005) The definition of partnering as a Wittgenstein family-resemblance concept. Construction Management and Economics, 23(05), 473-81.

Zayed, T M and Halpin, D W (2005) Deterministic models for assessing productivity and cost of bored piles. Construction Management and Economics, 23(05), 531-43.