Meng also investigated UK construction and found that 26 (25.2%) of 103 investigated projects faced overrun. Numerous worldwide researches have been conducted to understand cost performance of construction projects. It affects both physical and economic development for the country and thus, it is important to ensure construction projects are completed within the estimated cost. The cost overrun is very dominant in both developed and developing countries. Poor cost performance in construction projects is a well-known element in resulting huge amount of cost overrun as faced by construction industry globally. This will benefit all parties involved in construction projects for controlling cost overrun. This vigorous multivariate analysis has explicitly found the significant category which consists of several causative factors to poor cost performance in large construction projects. This finding is validated using advanced techniques of power analysis. Based on the final form of the model, contractor’s site management category is the most prominent in exhibiting effect on cost performance of large construction projects. The result of the analysis found that value of the model is 0.422 which indicates that the developed model has a substantial impact on cost performance. The analysis involved three iteration processes where several of the factors were deleted in order to make the model acceptable.
#REVIEW OF SMARTPLS 3 METHODOLOGY AND SOFTWARE SOFTWARE#
Only 144 completed sets were received and analysed using advanced multivariate statistical software of Structural Equation Modelling (SmartPLS v2). A total of 300 questionnaire forms were distributed. In the questionnaire, a total of 35 inhibiting factors grouped in 7 categories were presented to the respondents for rating significant level of each factor. Questionnaire survey was conducted among clients and consultants involved in large construction projects. This study uncovered inhibiting factors to cost performance in large construction projects of Malaysia.
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