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Financial and contractual problems of construction projects in Iran

The construction industry is vital for the development of any country. The pace of the economic growth of any nation can be measured by the development of physical infrastructures, such as buildings, roads and bridges. Rapid and economy completions of projects depend largely upon the availability of...

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Main Authors: Khoshgoftar, Mohammad, Bakar, Abu Hassan Abu, Osman, Omar
Format: Conference or Workshop Item
Language:English
Published: 2008
Subjects:
TH1-9745 Building construction
Online Access:http://eprints.usm.my/34678/1/HBP19.pdf
http://eprints.usm.my/34678/
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spelling my.usm.eprints.34678 http://eprints.usm.my/34678/ Financial and contractual problems of construction projects in Iran Khoshgoftar, Mohammad Bakar, Abu Hassan Abu Osman, Omar TH1-9745 Building construction The construction industry is vital for the development of any country. The pace of the economic growth of any nation can be measured by the development of physical infrastructures, such as buildings, roads and bridges. Rapid and economy completions of projects depend largely upon the availability of timely funds. Most of the clients hire a general contractor through competitive bidding process to do the entire construction work. The research was done on the industrial projects in Iran. This research conducted by questionnaires survey on those who worked in client consultant and contractor companies. Forty eight sets of questionnaires were posted and emailed to large companies in Esfahan at random. The result indicated that the most important contractual problems were: In the documents of tender, some items of the tasks and works in project are not predicted, In the time of the tender, drawing and plans are not complete, contractors have not enough information about all work items in the project and the details about it, In the process of a project execution more new tasks are ordered, some of them need special plans and equipment that contractors are not ready for them. The most important financial problems were: employer financial problem, contractor financial problem, inflation, low price of contract and lack of financial resources. Keywords: Finance, Contract, Esfahan, Iran 2008-12 Conference or Workshop Item PeerReviewed application/pdf en http://eprints.usm.my/34678/1/HBP19.pdf Khoshgoftar, Mohammad and Bakar, Abu Hassan Abu and Osman, Omar (2008) Financial and contractual problems of construction projects in Iran. In: 2nd International Conference on Built Environment in Developing Countries., 3rd- 4th December 2008, Universiti Sains Malaysia, Pulau Pinang.
institution Universiti Sains Malaysia
building Hamzah Sendut Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sains Malaysia
content_source USM Institutional Repository
url_provider http://eprints.usm.my/
language English
topic TH1-9745 Building construction
spellingShingle TH1-9745 Building construction
Khoshgoftar, Mohammad
Bakar, Abu Hassan Abu
Osman, Omar
Financial and contractual problems of construction projects in Iran
description The construction industry is vital for the development of any country. The pace of the economic growth of any nation can be measured by the development of physical infrastructures, such as buildings, roads and bridges. Rapid and economy completions of projects depend largely upon the availability of timely funds. Most of the clients hire a general contractor through competitive bidding process to do the entire construction work. The research was done on the industrial projects in Iran. This research conducted by questionnaires survey on those who worked in client consultant and contractor companies. Forty eight sets of questionnaires were posted and emailed to large companies in Esfahan at random. The result indicated that the most important contractual problems were: In the documents of tender, some items of the tasks and works in project are not predicted, In the time of the tender, drawing and plans are not complete, contractors have not enough information about all work items in the project and the details about it, In the process of a project execution more new tasks are ordered, some of them need special plans and equipment that contractors are not ready for them. The most important financial problems were: employer financial problem, contractor financial problem, inflation, low price of contract and lack of financial resources. Keywords: Finance, Contract, Esfahan, Iran
format Conference or Workshop Item
author Khoshgoftar, Mohammad
Bakar, Abu Hassan Abu
Osman, Omar
author_facet Khoshgoftar, Mohammad
Bakar, Abu Hassan Abu
Osman, Omar
author_sort Khoshgoftar, Mohammad
title Financial and contractual problems of construction projects in Iran
title_short Financial and contractual problems of construction projects in Iran
title_full Financial and contractual problems of construction projects in Iran
title_fullStr Financial and contractual problems of construction projects in Iran
title_full_unstemmed Financial and contractual problems of construction projects in Iran
title_sort financial and contractual problems of construction projects in iran
publishDate 2008
url http://eprints.usm.my/34678/1/HBP19.pdf
http://eprints.usm.my/34678/
_version_ 1643708276653686784
score 13.211869

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