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.
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.
- 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
1 – Introduction
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
Comparison of types of research
4 – Data Analysis
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
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