Strategic competences for pricing quantity surveying consultancy services

Professional quantity surveying (QS) services are critical to successful delivery of construction projects within planned budget, quality, and duration. The supply of QS professional services is largely dependent on the price level of services and the willingness of clients to pay. The pricing of professional QS consultancy services has been confronted with a myriad of pricing challenges due to rapid changes in the business environment; the pervasive influence of information technology; and the complexity of clients’ expectation. It isthereforenecessary for QS consultancy firms to develop strategic competence for the pricing of their services. In addition, numerous studies have not given the pricing the pricing of professional services the requisite attention. The purpose of this paper is to investigate the strategic competence for pricing professional QS services. The study was positioned within the positivist tradition. As a result, the quantitative approach was adopted using a survey questionnaire to collect data from QS consultants. The sample size of the study was 79 professional quantity surveyors chosen by using simple random sampling technique from a population of 372 registered professional QS of the Ghana Institution of Surveyors. Using the χ2 test and factor analysis, the study established a relationship between strategic competences and pricing of QS services. The study found that strategic competences for pricing QS professional service is significantly related to the managerial and professional competence of QS consultants. The strategic competences of QS consultants identified by this study include business management, services cost management; and production capabilities. This study provides an empirical basis for QS consultancy firms to focus on strategic direction of their contractual arrangement with clients. Practically, resource configuration and strategic competences for professional service pricing would create price leadership. The study advances the pricing knowledge within the QS practice by demonstrating the nexus between strategic competences and the pricing of QS professional services which hitherto this study have not been effectively investigated

Expanding Understanding on Attributes of Innovation Champions: Firms and Individual Perspectives of Professional Quantity Surveying Firms

Quantity Surveying Profession (QSP) globally has undergone significant revolution and has embraced career pathways in providing excellent services within and outside the construction industry. The QSP adapting to the changes in the construction industry, and innovating to remain competitive has allowed them to adopt some specific attributes which makes them process innovation champions. Identifying these characteristics of the QSP for appreciation and implementation gave the purpose for this studies. Drawing from quantitative research approach, and using purposive and convenience sampling technique, data was collected and analysed. The study adopted descriptive statistics, Relative Importance Index (RII) and cross tabulations as its tools of analysis. After analysis, the outstanding attribute of innovative Quantity Surveying (QS) firms’ worthy of emulation were good managerial skills and capability, followed by team learning and competency. On individual perspective, all the identified variables were outstanding characteristics with interaction with others in the workplace ranking first, followed by open to experience while acting out of curiosity ranked last. Findings of this study could assist in understanding the set of characteristics which makes firms innovative. The identified attributes would also help other project teams in the construction industry to increase their innovativeness and output when they are examined, understood and implemented

Insights into The Push Factors of Innovation Adoption of Professional Services Firms: The Case of Ghanaian Quantity Surveying Firms (QSF)

Construction industry is a universal driver of an economy but it is largely affected by its reluctance to innovate. This paper aims to identify the drivers of innovation adoption in Ghanaian Quantity surveying firms by looking at related previous literatures. The study adopted Quantitative research approach with census sampling technique, where questionnaires were sent to and retrieved from the top management of Quantity Surveying firms in Ghana. The study then adopted the use of mean score ranking, and hypothesis (H) was tested to check the significance level of all the push factors using One Sample Wilcoxon Signed rank test. 29 out of 43 questionnaires were retrieved from the quantity surveying firms (QSFs) at a response rate of 67.44%. Mean score ranking analysis clearly display that technological capability has the power to drive innovations in Quantity surveying (QS) firms. One Sample Wilcoxon Signed rank test concluded that effective information gathering is not important to the Quantity Surveying firms because it had a significant level of 0.384, which is greater than 0.05. Therefore, this research study has discovered that, programmes promoting access to technology is the main driver of technological capability towards innovations in professional service firms. The finding of this study is valuable to the Quantity Surveying firms as well as the other professionals in the construction industry as well as innovation policy makers and stakeholders, as it will help invest in technological capabilities including programmes promoting access to technology with the aim of driving innovations in the professional service firms

Exploratory investigation of challenges and expectations of innovative quantity surveyors and quantity surveying firms in Ghana

Likeother professions that wish to remain competitive, the quantity surveying profession (QSP) will always find ways to improve its output and systems. Despite the QSPs progress in process innovation, the profession still faces some challenges and is overwhelmed by expectations that must be addressed to improve service. The purpose of this study is to identify the expectations and challenges of quantity surveyors and the QSP. Using an in-depth literature review and quantitative research approach, questionnaires were developed and administered to innovative quantity surveying (QS) firms in Ghana. After validating variables and checking the reliability of the scale, data analysis was carried out using descriptive statistics, cross-tabulation, and a relative importance index (RII). Findings showed that the quantity surveyors expect elimination of corruption from the industry and a high standard of transparency and accountability. The surveyors also desired enhance their skills to remain competitive and be more entrepreneurial and proactive. This study creates awareness for top managers and leaders in QS firms to identify and adopt innovative solutions to address the challenges of the industry and the expectations of individual quantity surveyors. Managing the expectations of quantity surveyors and the challenges of the QSP would help the QS industry remain competitive and lucrative. This paper makes an original contribution to the field by describing the challenges the QSP faces in the construction industry and providing theoretical views on the expectations of innovators

Modelling a conceptual framework of technology transfer process in construction projects: an empirical approach

Technology transfer (TT) is crucial to social infrastructure and economic development in developing countries (DCs). In Ghana’s construction sector, foreign firms provide an invaluable source of innovation and technological advancement for local contractors. However, TT models published in existing literature are rarely applicable to the construction industry in DCs. This paper therefore presents a conceptual framework of the TT process as a tool for measuring construction performance. Utilising the results from a questionnaire survey of Ghanaian construction industry professionals, eight different perspectives on TT were formulated using exploratory factor analysis. These perspectives represent the enablers and outcomes of the TT process, namely transferor and transferee characteristics, knowledge advancement, the transfer environment, government influence, the learning environment, project performance, communication, and relationship building and absorptive capability. The research outcomes provide useful guidance to local and international funding agencies, governments of developing or newly industrialised countries, and construction firms that seek to effectively evaluate the success (or otherwise) of the TT process. Future research should seek to validate the research findings presented, and to expand the work to include other DCs

An empirical assessment of innovation practices of quantity surveying firms in Ghana

Innovation is ascertained to be a major driver of growth of the productivity of a firm. This has spurred the interest of many researchers to study and harness the adoption of innovation. Extant literature indicates that some professional services offered by the quantity surveying (QS) firms are not needed by the client, or may be outdated. Consequently, the QS firms have to develop the stamina to challenge the existing unnecessary and unwanted or outdated practices and implement innovative practices. What is more alarming is that the QS firms are rated to have a low disposition towards the adoption of innovation. This established context propelled the need for empirically assessing the innovation practices amongst the QS firms in Ghana. A quantitative research approach was employed for this study and a census sampling technique was adopted. A total of 43 questionnaires were administered to the entire population and 24 were retrieved. The current level of innovation practices amongst the Ghanaian QS firms was interpreted using Rogers’ innovation diffusion theory. The results indicated that QS firms in Ghana are early adopters of process innovation, product/technological innovation and business system innovation. The study showed that QS firms adopt innovation practices in rendering their services and even though they do not initiate new ideas, they are the first to adopt the ideas initiated by the innovators. This study has drawn attention to the assessment of innovation practices and increasing the knowledge base of innovation practices in Ghanaian QS firms

The Case for a Construction Industry Council in Ghana

The Ghanaian construction industry faces major problems that undermine its potential and contribution to overall national development. There is a general acceptance of the need to develop structures and improve regulations within the Ghanaian construction industry. However, the fragmentation of stakeholders has resulted in the absence of a clear agenda within the industry to address apparent problems that affect performance within the industry. Whilst there have been previous initiatives to help deliver industry-wide improvements in the Ghanaian construction industry, they have not received direct sustained attention from a single organisation with broad stakeholder participation. This undermines progress in the efforts to improve the overall environment and performance in the industry. This paper explores the development of a multi-stakeholder representative body for the Ghanaian construction industry to provide leadership in the pursuit of reform in the Ghanaian construction industry. The literature on developments within the global construction industry and industry initiatives to improve performance have been reviewed. This provides new pathways to ongoing efforts to achieve industry-wide regulation. It has been recognised in this paper that the ultimate objective towards the attainment of industrywide improvements in the Ghanaian construction industry remains the establishment of an Industry Development Agenc

A fuzzy-based evaluation of financial risks in build-own-operate-transfer water supply projects

The build–own–operate–transfer (BOOT) scheme is widely used for the provision of new bulk water supply. However, this scheme is complex and carries significant financial risks because of the characteristics of the water sector and the involvement of public-private stakeholders with new and extended responsibilities, large private capital, and long contract duration. Drawing on the Nungua Seawater Desalination Plant (NSDP) in Ghana, this study seeks to identify and assess the critical financial risks associated with BOOT water supply projects and evaluate the financial risk level of the NSDP project. The risks and their relative criticality on the NSDP project are investigated by using a questionnaire survey method. The questionnaire was formulated with a set of 18 risks derived from extant literature and project documentation. Perceived critical financial risks affecting the NSDP project were assessed by a team of experts who had direct involvement in the project. A fuzzy synthetic evaluation suggests that the project is financially risky and that all the risks are critical to the project. Bankruptcy of consortium members, unfavorable economy of the host country, uncertainty in tariff adjustment of water products, rate of return restrictions, and availability problem of private capital are the five most highly-ranked risks. The fuzzy technique is used to represent and model experiential knowledge of the survey participants and to address the fuzziness of their expert judgments. The study’s results facilitate prioritization of risks and a comprehensive risk management program during the lifecycle of the case project and future projects. The fuzzy technique is suitable for early phases of BOOT projects to prioritize the risks that require a detailed analysis and to predict the risk level of a project

Corporate real estate management and bank profitability

Acquiring property for any business is capital intensive and for that matter, strategically managing such assets is considered equally important. This paper provides an analysis of the value-adding attributes of corporate real estate management (CREM) and bank performance in Ghana. The multiple regression method was applied to a cross-section of both primary and secondary data sourced from 25 commercial banks in Ghana. The study shows that the banks identify with the value-adding attributes of corporate real estate asset management even though there are variations in the level of importance to individual banks. These variations are attributable to the unique mandates of the banks. Further analysis shows that CREM has significantly positive impacts on bank profitability by strategies that help to increase innovations, increase productivity, and promote marketing and sales. The finding suggests that optimizing these CREM strategies could help increase bank profits