Dissertation UK Construction Joint Ventures

Effectiveness of UK Construction Joint Ventures

In recent years there has been an increase in UK construction companies forming Joint Ventures (JV) in order to compete for construction projects. JVs are an arrangement where companies combine their expertise, capital, property, skills and knowledge in order to execute a specific project. Despite the rise of Construction Joint Ventures (CJV), it has been reported that Joint Ventures are often problematic and result in disputes between the partners.

There is an abundance of research which focuses on different countries like China, Japan, and UAE, but there is very limited research that examines CJVs in the UK construction industry. This research aims to examine this CJV formation in the UK. It will identify the motives of UK companies forming Construction Joint Ventures, the reasons of failure, the factors of success. It also investigates the spike of UK CJV formation.

Initially, a literature review was carried out on the existing body of knowledge. Then a series of interviews were conducted with professionals that have been involved in different lengths with UK CJVs. The interview questions addressed all the aims and objectives of the research. Following an in-depth discussion of the literature and the data findings, it was revealed that the main motives that companies have to form a joint venture are to gain enough financial strength, exchange expertise, satisfy client needs, share risk and enter new geographical markets within the UK.

Construction Joint Ventures Dissertation
Construction Joint Ventures Dissertation

It was identified that the main risks of failure are choosing an unsuitable partner and inefficient collaboration. The study found that the spike of CJVs is due to the recession of 2008, the ‘Egan reports’ and client demand. The factors of success that were found are partners having common aims and objectives, clear procedures and being compatible with each other. In conclusion, the study provided an insight into the formation of CJV in the UK that did not exist previously.

Dissertation Objectives

  • Identify the motives of companies to form a CJV
  • Identify the risks and reasons of failure of CJVs
  • Investigate the increase of CJVs in the UK construction industry
  • Provide an updated account on factors of success of UK CJVs

Dissertation Contents

1 – Introduction
Aim
Objectives
Research Need
Research Method
Dissertation structure

2 – Literature Review
Definition of Joint ventures
Difference between JV and CJVs
Operation of CJVs
Motives to form Joint Ventures
Risks and reasons of failure of CJV
Determinant of Success
Factors of success of CJV in different industries
Differences between Industries
Common Trends throughout the Literature
CJVs in the UK industry

3 – Methodology
Quantitative research
Qualitative research
Comparison of types of research
Interviews
Interviewees Profile

4 – Data Analysis
Interview Responses

5 – Discussion
Key objective 1: Identify the motives of companies to form a CJV
Key objective 2: Identify the risks and reasons of failure of CJVs
Key objective 3: Investigation of increase of CJVs in the UK construction industry
Key objective 4: Provide an updated account on factors of success of UK CJVs

6 – Conclusions
Aim of the research
Research Objectives
Limitations
Recommendations

References

Appendix

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New Rules Measurement Quantity Surveying

Is New Rules Measurement A Real Success Story?

Title: NRM – Is New Rules of Measurement A Real Success Story? There has been many pieces of literature in the UK construction industry which say the implementation of NRM has been successful however there has been very little surveys carried out which provide true data not opinions. Through analysing NRM in depth looking at the perceived advantages and barriers to their adoption it provided a better understanding of what the RICS were trying to achieve with New Rules Measurement. The dissertation aimed evaluate the impact of New Rules Measurement has had on the UK construction industry and how well the suite of documents were understood and utilised.

The method of data collection used in this research dissertation was questionnaires; this provided quantitative data which there was a lack of on this subject. This data was collected through the questionnaire which was sent to various companies to gain a greater understanding of the impact of New Rules Measurement across the industry. The main findings in the research were that many QS’s surveyed had not been given any training on New Rules Measurement as there was a small number of projects requesting its use. Quantity surveyors surveyed also believe there are benefits to using New Rules Measurement however they are not willing to seek training without a higher demand in New Rules Measurement use from clients.

NRM New Rules Measurement Dissertation
NRM New Rules Measurement Dissertation

A conclusion that can be drawn from the dissertation is that New Rules Measurement has yet to impact the industry as a whole, as many quantity surveyors do not fully understand what the documents are or what they are trying to achieve. The RICS should endeavour to keep promoting this publication to ensure the benefits are realised across the industry so that it becomes industry standard. The aim of this dissertation is to investigate the impact of New Rules Measurement and how it is being utilised in the UK construction industry and to evaluate the impact and utilisation. This research hopes to identify any barriers that may hinder the full integration of New Rules Measurement and therefore allows any issues to be clearly identified for the UK construction industry.

Research Objectives

  • Investigate the need for the UK construction industry to update from SMM7 to New Rules Measurement
  • Critical appraisal of New Rules Measurement to produce an understanding of its contents
    Identification of barriers that hold back New Rules Measurement
  • Evaluation of New Rules Measurement’s potential benefits
  • What are the opinions of those in industry on New Rules Measurement and how it is being used

Dissertation Contents

Introduction
Rationale
Hypothesis
Research Aim Research Objectives
Research Method and Scope
Structure

Analysis of NRM and its impact
Background Information
Historical Role
Problems in current Quantity Surveying Practice
The need for NRM
Barriers to use of NRM in UK construction industry
Advantages of NRM
Updated
Global Appeal
BIM integration
Innovation in the construction industry

Research Methodology
Research Aim
Research Methodology
Research Approaches
Quantitative
Qualitative
Questionnaire Aim
The Participants
Response Rate
Questionnaire Structure
Rational for Questionnaire
Data Analysis

Data Analysis
Questionnaires
Participants
Experience of Participants
Knowledge of Current Industry Standards
Use of Current Industry Standards
Knowledge of NRM
Use of NRM
Training on NRM
NRM being beneficial
Projects that used NRM in 2015
Projects that will use NRM in 2016
Barriers to NRM
NRM providing cost consistency and accuracy
Opinions on NRM
If it were your choice would you use NRM
Advantages of NRM

Conclusion and Recommendation
Hypothesis
Aims & Objectives
Comments on objectives
Investigate the need to update from SMM7 to NRM
Critical appraisal of NRM
Barriers of NRM
NRM’s benefits
Opinions on NRM and how it is being used
Conclusion
Recommendation
Limitations
Future Research

References

Appendix
Questionnaire

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