The Critical Success Factors to Achieve a Successful Private Finance Initiative Road Project
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Journal_Current_Construction_Issues_CEPPIS_2019-46-69.pdf (428.25 KB)
Date
2019
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BGJ Consulting
Abstract
This paper critically examines and proposes the critical success factors to achieve a successful PFI road project. A construction project is completed as a result of a combination of many factors and interactions, planned or unplanned, over the life of a constructed facility, with changing participants and processes in a constantly changing environment. This paper defines a set of conditions or factors that, when thoroughly and completely satisfied on a project, ensures the successful completion of the facility. Success on a project means that certain expectations for a given participant were met, whether owner, planner, engineer, contractor, or operator. These expectations may be different for each participant. Large construction projects are inherently complex and dynamic. A comprehensive answer on how to manage such projects successfully is difficult to provide. Evaluation of project success plays a key role in improving project management competency. Project success is an elusive topic and goes beyond project management success and traditional criteria. The lack of an agreed definition and a set of criteria for construction project success have long been the reasons for failing to evaluate success. The main possible causes for such disagreement would be the abstract nature of the concept itself and studies including different industry projects and different participants’ viewpoints with different priorities. Therefore, the objective of this paper is to define PFI construction project success and to develop a framework with a practical set of measurement criteria to evaluate the same.
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Citation
Akbiyikli, R., Dikmen, S.Ü., Eaton, D., Akbiyikli, B. (2019). The Critical Success Factors to Achieve a Successful Private Finance Initiative Road Project. Journal of Current Construction Issues. CIVIL ENGINEERING PRESENT PROBLEMS, INNOVATIVE SOLUTIONS - Circular Economy in Construction Sector: 45-68.