Utilizing Financial Engineering Products in the Construction Industry
KWAME NKRUMAH UNIVERSITY OF SCIENCE AND TECHNOLOGY
COLLEGE OF ARCHITECTURE AND PLANNING DEPARTMENT OF BUILDING TECHNOLOGY
Topic:
UTILIZING FINANCIAL ENGINEERING PRODUCTS IN THE CONSTRUCTION INDUSTRY: THE PERSPECTIVE OF GHANA
An Undergraduate proposal presented to the Department of Building Technology of the Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the award of a Bachelor of Science (BSc.) An honors degree in Quantity Surveying and Construction Economics.
Student:
Joseph Kwamena Mensah
Supervisor:
Dr. De-Graft Owusu-Manu
October, 2012
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CHAPTER ONE INTRODUCTION | |
1.0 BACKGROUND
Available literature points out that, the performance of the construction industry has a major influence on the economy of a country, because its activities are vital to the achievement of socioeconomic and developmental goals of providing shelter, infrastructure and employment (Chudley, 1997; Anaman and Osei-Amponsah, 2007; Ayarkwa et al., 2011). That notwithstanding, for a construction industry to play its due role in the socioeconomic development process, it should have the capacity and capability to meet the demand put into it, and to perform well (Ofori, 2012).
Recently, the demand for infrastructure needed to speed up socioeconomic development in Ghana has witnessed a very significant boost in political support, (Ghana-Vision 2020). Indeed, this promises improvement in the delivery of public services at all state levels and innovation dynamics would contribute immensely in this endeavour.
In Ghana, it is evident that innovative strategies are needed in the procurement and financing of construction project at all levels. These innovative strategies need to be based on a better understanding of how construction procurement actually can and should work in a very practical way to contribute to more projects being delivered throughout the industry, resulting in an increase
COLLEGE OF ARCHITECTURE AND PLANNING DEPARTMENT OF BUILDING TECHNOLOGY
Topic:
UTILIZING FINANCIAL ENGINEERING PRODUCTS IN THE CONSTRUCTION INDUSTRY: THE PERSPECTIVE OF GHANA
An Undergraduate proposal presented to the Department of Building Technology of the Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the award of a Bachelor of Science (BSc.) An honors degree in Quantity Surveying and Construction Economics.
Student:
Joseph Kwamena Mensah
Supervisor:
Dr. De-Graft Owusu-Manu
October, 2012
-------------------------------------------------
CHAPTER ONE INTRODUCTION | |
1.0 BACKGROUND
Available literature points out that, the performance of the construction industry has a major influence on the economy of a country, because its activities are vital to the achievement of socioeconomic and developmental goals of providing shelter, infrastructure and employment (Chudley, 1997; Anaman and Osei-Amponsah, 2007; Ayarkwa et al., 2011). That notwithstanding, for a construction industry to play its due role in the socioeconomic development process, it should have the capacity and capability to meet the demand put into it, and to perform well (Ofori, 2012).
Recently, the demand for infrastructure needed to speed up socioeconomic development in Ghana has witnessed a very significant boost in political support, (Ghana-Vision 2020). Indeed, this promises improvement in the delivery of public services at all state levels and innovation dynamics would contribute immensely in this endeavour.
In Ghana, it is evident that innovative strategies are needed in the procurement and financing of construction project at all levels. These innovative strategies need to be based on a better understanding of how construction procurement actually can and should work in a very practical way to contribute to more projects being delivered throughout the industry, resulting in an increase
References: Ayarkwa, J., Dansoh, A., Adinyira, E. And Amoah, P. (2011),"Performance of building technology graduates in the construction industry in Ghana", Education + Training, Vol. 53 Iss: 6 pp. 531 – 545 Badu, E., Edwards, D.J, Owusu-Manu, D. And Brown, M. (2012),"Barriers to the implementation of innovative (IF) of infrastructure", Journal of Financial Management of Property and Construction, Vol. 17 Iss: 3 pp. 253-273 Chong, H.Y., Balamuralithara, B. And Chong, S.C. (2011),"Construction contract administration in Malaysia using DFD: a conceptual model", Industrial Management & Data Systems, Vol. 111 Iss: 9 pp. 1449 – 1464 Harris, F. And McCaffer R. (2001), Mordern Construction Management, 5TH Edition, La Trade Fair Centre, EPP Books and Services. Marshall, J. And Bansal, V. (1992), Financial Engineering, New York Institute of Finance. Ofori. G, (2012), "Developing the Construction Industry in Ghana: the case study for a central agency” [Catched], Available at <http//www.buildingcontractorsgh.com/…> Accessed on (21/10/2012) Public Procurement Act of Ghana, 2003, Act 663. [Cached], (2011), Available at <http//www.ppaghana.org/…/ … > Accesed on (21/10/2012) Reference for Business, (2011), “Financial engineering”, [online], (2011), Available at <http//www.referenceforbusiness.org/…/… > , Accessed on (21/10/2012). Laryea S., And Hughes W., (2009),"Commercial reviews in the tender process of contractors", Engineering, Construction and Architectural Management, Vol. 16 Iss: 6 pp. 558 - 572