Bibliography: leaves 150-156. / The term ''Building Procurement System" has become a fashionable term within the Tanzanian building industry in recent years. It is a term that is surrounded by controversy and evokes strongly held opinions by both practitioners and researchers. This thesis attempts to analyse what these procurement systems have to offer and to match them to the objectives of the client and characteristics of the project.

This research examines the influence of international risks, and the level of resources of South African construction companies on entry decisions made to access cross‐border African construction markets. The study further investigates how the resources of South African construction companies and their decisions to enter into African construction markets, interact to mitigate the perceived impact of risks encountered in these markets. The study adopted a convergence of the mixed methods research approach where quantitative and qualitative data were collected concurrently from multiple sources. These data include a questionnaire survey distributed to construction companies registered on Grades 8 and 9 of the Construction Industry Development Board (cidb) Register of Contractors; interviews conducted with construction companies having international markets experience, as well as an assessment of annual and financial reports. Data obtained through the survey were analyzed using both descriptive and inferential statistics. The model developed was validated using a partial least squares structural equation modelling technique. Thematic content analysis was adopted in analysing the data obtained from the assessments of company documents and interviews. The study reveals that the level of revenue, the assets, and the number of employees of South African construction companies with cross-border experience, influence the perceived impact of political, social, procurement, design and construction related-risks in foreign markets. It also emerged that the decisions on entry modes were significantly influenced by the perceived impact of all classes of risk. The study established that significant positive interactions exist between assets and joint venture companies; joint venture projects and branch offices and companies; and that international experience are significantly related to strategic alliance as an entry mode. The positive interactions between resources and entry decisions made mitigate the perceived impact of risk in African construction markets. The study makes a significant contribution to the body of knowledge on international construction, by establishing an all-inclusive risk profile of the African construction market. Also, it establishes that the resources of multinational construction companies influences their perception of risks, and that the perceived impact of risks influences cross‐border entry decisions made to access foreign markets to mitigate the risks encountered. A risk-based entry decision model as a strategic tool, helps multinational construction companies to leverage their resources, as well as providing an adequate perception of risks when deciding on an appropriate strategic entry mode which will mitigate the risks encountered in crossborder markets.

Includes bibliographical references (leaves 295-305). / This thesis examines financial risk management in the cost planning and cost control of building projects in Kenya. The quantity surveying professional in Kenya is faced with poor access to the recorded cost data needed for preparing final building cost estimates and for budget prediction. This shortcoming is exacerbated by the passive role played by the professional building cost consultant during design development. Passive professional building cost consultants are unlikely to implement risk management strategies as part of the cost planning and cost control process. The proactive identification of risks and their outcomes is essential for budget prediction and for estimating future risk impacts. The need exists for a generalised procedure that can use the limited available project information, adapting it to specific projects through identified risk indicators such as risk groups, clusters and broad subsets. The primary objectives of the research project were to identify the characteristics of risk in current practice of cost planning and cost control of building projects, and to investigate the efficacy of the techniques employed to assess risk and risk impact in cost prediction.

Building contractors are often commissioned using unit price based contracts. They, nevertheless, often compete on the basis of their overall project bids and yet are paid on the basis of these projectsâ constituent item prices. If a contractor decides these prices by way of applying an uneven mark-up to their estimates of their costs, this is known as unbalanced bidding. This research provides proof and explanation that different item pricing scenarios produce different levels of reward for a contractor, whilst exposing them to different degrees of risk. The theory describes the three identified sources of these rewards as well as provides the first explanation of the risks. It has identified the three types of risk involved and provides a model by which both the rewards as well as these risks can now be measured given any item pricing scenario. The research has included a study of the mainstream microeconomic techniques of Modern Portfolio Theory, Value-at-Risk, as well as Cumulative Prospect Theory that are all suited to making decisions that involve trading-off prospective rewards against risk. These techniques are then incorporated into a model that serves to identify the one item pricing combination that will produce the optimum value of utility as will be best suited to a contractorâs risk profile. The research has included the development of software written especially for this purpose in Java so that this theory could be tested on a hypothetical project. A test produced an improvement of more than 150% on the present-value worth of the contractorâs profit from this project, if they apply this model compared to if they instead price the project in a balanced manner.

Rental housing sector remains a significant housing option and an essential component of a vibrant housing market and construction industry as a whole. However, rental housing markets in most developing countries have been characterized by market failure because of the inability to provide adequate rental units commensurate with the urban population's demand. One of the major reasons for the inefficiency is attributed to the little attention by the private developers/landlords towards the rental housing development, yet they are perceived to be the major players on the supply side. The main objective of this research is to critically examine the rental housing market in Kenya and determine why despite the high demand for affordable rental housing, there has not been adequate corresponding supply of good quality housing units, a phenomenon which denotes market failure. This research aims at exploring the institutional environment to find out what has hindered delivery of adequate affordable rental housing despite high demand. This study has been guided by critical realism philosophical perspective and combines the conceptualisation in the Institutional Analysis and Development (IAD) framework and the theoretical richness in the New Institutional Economics (NIE) to develop the conceptual framework for analysing market failure in the rental housing market. The study utilizes mixed methods research design where both qualitative and quantitative research approaches have been employed, comprising a combination of cross-section survey of lower-middle income tenants and interviews of existing landlords, developers, key informants from the relevant public and private sector stakeholders. The main findings of this study underscore the significance of institutional environment in influencing the outcomes of the housing market, and note that as currently constituted, the institutional framework is not practically well-matched to support delivery of affordable rental housing units and as such discourages developers from the rental sector. The frameworks ranging from policy, regulatory and financial systems coupled with inferior performance of rental sector compared to development for sale systematically, but inadvertently lead to market failure in the rental housing market. This study recommends formulation of a distinct Rental Housing Policy and consequently Rental Housing Act complete with implementation framework to deal with issues intrinsic to the rental sector. It has made various and diverse contributions to the existing body of knowledge which comprise theoretical, contextual, empirical and policy perspective.

The failure of construction projects to be delivered successfully – the root of poor performance in the construction industry – is attributed by scholars to the improper payment (or no payment at all) of contractors, and subsequently, of sub-contractors and suppliers. Therefore, proficient payment systems, adequate cash flow and effective financial management strategies are required for the success of construction projects. However, there is limited or no objective research that explores the impact of financial management strategies and project payment systems on construction company performance in South Africa. Also, previous research efforts have focused on various modelling approaches and their success/failure; thus, a model is yet to be developed for South Africa that will assist the construction industry practitioners in South Africa to have a reliable payment system and financial management strategy. Such a model might improve project/organisational performance. This study investigated the project payment systems and financial management strategies used by large construction organisations in achieving better performance within the business and project environment. The study further examined whether financial management strategies mediate the relationship between project payment systems and construction organisation performance. The study made use of a sequential mixed-method research approach that involves the collection of both quantitative and qualitative data to achieve the research objectives. The sample size for the study consisted of 176 contractors listed in Grades 7 to 9 on the Construction Industry Development Board (cidb) Register of Contractors. Data on the financial performance of the construction companies was obtained by gathering historical information on past projects undertaken within a five-year period (2013-2017), the payment systems used, financial management strategies adopted by the companies, and project and organisation performance data. Quantitative data analysis was carried out using both descriptive and inferential statistics. Descriptive statistics, such as percentiles and mean scores, were used to analyse the background information of the respondents and how the study population responded to the questionnaires, the typical payment systems used on construction projects and financial strategies, and the level of project and organisation performance. Structural Equation Modelling (SEM) was employed in modelling the extent to which project payment systems and financial management strategies in business and project environments influence, and are associated with, construction organisation performance. It emerged from the study that construction organisations that lack effective financial management strategies accept the use of the interim project payment system by clients on construction projects; and that financial management strategies adopted by construction companies indirectly affect their financial performance. The research also revealed that the interim payment system mediates the impact of the financial management strategies adopted, on the financial performance of construction organisations. Based on these findings, the study concluded that the failure of construction projects and organisations would be reduced through the adoption of effective financial management strategies by construction organisations and appropriate payment systems by the clients. The study highlighted channels of improving project payment systems in the construction industry, by recommending appropriate methods that suit the project environment. Also, the research proposed financial strategies and measures relating to payment and usage of the funds in the contract, so that payment and construction company performance problems in projects may be reduced. The research extends the theory on financial management strategies and its impact on financial organisational performance in the context of construction companies and the construction industry. The study contributes to the knowledge of payment systems and construction company performance, and the research and practical implications of the payment systems for the operations and performance of construction firms.

Providing various public infrastructure requires a lot of land that is normally expropriated from private and/or customary owners as government may not have it, in return for compensation to cover the expropriatory losses occasioned. Commonly, such compensation is assessed based on market value. While private land is tradable, customary land is conceptually and statutorily not. Essentially, the study examines how expropriated customary land is valued for compensation purposes. It argues that existing compensation valuation practices for expropriation presupposes private property and functional property markets, thereby realising inadequate compensation for customary land. By doing so, the study analyses applicability of indemnity and taker's gain compensation theories and methodologies that are founded on private land, to customary properties and in different social settings, to achieve desired compensation goals. The study uses three case studies in Malawi to collect empirical data through face-to-face interviews and focus group discussions from sixty respondents that included key informants, expropriatees, government officials, government valuers, private valuers, local leaders, development partner and civil society organisations representatives. Qualitative data were analysed qualitatively through thematic analysis and simple descriptive analysis for quantitative data. The study finds that Malawian compensation law derives from indemnity compensation theory but that its applicability to customary land is challenged by various factors including inadequate and unsupportive laws, underdeveloped or non-existent land markets to support adopted market value-based methodologies, customary land prevalence, absence of assessment methodologies for non-tradable or rarely exchanged properties and noncompensation of various expropriatory losses. The study concludes that indemnity compensation is fundamentally applicable to customary land as it desires to protect land rights from arbitrary takings and prevent expropriatees from impoverishment, but that current compensation practices obtain inadequate compensation that impoverishes expropriatees. This calls for other non-market dependent compensation assessment methodologies such as Contingent Valuation Methodology. The study makes a contribution to knowledge regarding the compensation of customary land acquired compulsorily, in the areas of theory, empirical data and policy development.

Targeted Procurement strategies are widely used in government contracts to achieve contractor performance and development objectives in the South African construction industry. However, there have been reports of poor performance and high attrition rate of contractors in contractor development programmes. There is little or no objective empirical evidence informing the implementation of SMC-friendly policies in South Africa. The study fundamentally set out to empirically validate the pre-existing assumption that targeting small and medium-sized contractors, and increasing their participation in government contracts stimulates their growth performance and development. The research further examines whether the quality of relationships in the project supply chain mediates the relationship between targeted procurement strategies used and contractor development. An embedded mixed methods research approach was adopted, that primarily employed quantitative (survey) means of data collection, and supported by secondary qualitative data (focus group interview) which was conducted concurrently. A sample size of 307 contractors registered on Grades 3 to 6 of the Construction Industry Development Board (cidb) Register of Contractors that have executed targeted procurement projects and been part of a cidb-registered contractor development programme within a five-year period (2011 – 2015) constituted the focus of the research. Data collected was subjected to both descriptive and inferential statistical analyses. The empirical model developed was validated using partial least squares structural equation modelling (PLS-SEM) technique. Findings from the study reveal that Targeted Procurement strategies influences the quality of relationships in the project supply chain, and is a statistically significant predictor of the growth performance and development of targeted contractors. Moreover, relationship quality emerged to be an important mediator of the relationship between Targeted Procurement strategies and contractor development. These findings demonstrate that Targeted Procurement has the potential to achieve its intended results of improving the performance and development of historically disadvantaged contractors where the quality of relationships in the project supply chain has significant elements of trust, communication, collaboration, joint problem-solving and risk allocation. The study contributes to the existing body of knowledge recognizing the importance of social and relational dimensions of inter-firm relationships within the context of project management and particularly relating to public-sector procurement and small contractor development. The findings imply that the government as a key construction sector client should continue to invest in Targeted Procurement or affirmative action policies that benefit historically disadvantaged SME contractors. The recommendations made calls for the establishment of a framework on Targeted Procurement for ease of application by the government and accountability. This also implies further research into more measurable criteria for the proposed Targeted Procurement framework. The policy implication of the findings from this study is the need for policymakers, state entities, and public-sector client departments to recognise their role in shaping construction supply chains. They should encourage the design and implementation of strategies and policies that enable adequate relationship management to be entrenched in the supply chain, and consider including relationship management as a relevant criterion for participating in public contracts.

A key challenge facing developing countries is the rapid increases in urbanisation and the effect this has on their water systems. Water sensitive urban design (WSUD) is a process that considers the entire water system with the aim of achieving a water sensitive city (WSC). However, little is known about how value can be created through WSUD in terms of the sustainability of urban precincts in South Africa. The researcher therefore considered the well-established literature highlighting the relationship between WSUD and sustainable urban development. To understand the value derived from these concepts, two case studies were assessed, namely the Victoria & Alfred Waterfront (V&A Waterfront) and Century City. However, it should be highlighted that due to the uniqueness of these cases, no generalisations from the findings can be generated. The methodology implemented for the case studies was social constructivist in nature and to satisfy the research objectives, semi-structured interviews were conducted, documentary material was gathered, and photographic evidence was collected. Moreover, a diverse collection of data was assessed, which was extracted through various methods of data collection, thereby resulting in an in-depth understanding of the case studies. This research concludes there is a relationship between WSUD, sustainable urban development and value. It further argues that the underlying principles of facilities management (FM) and more specifically urban FM provide a managerial framework that can connect these concepts to achieve sustainability for urban precincts. Furthermore, the study uncovered the need for value capture mechanisms as a form of infrastructure financing and value creation for urban precincts. However, it was established that neither case study make use of such mechanisms, so future research is required in this regard.