A conceptual framework for client financed construction and non-traditional approaches for financing construction work

Paper


Abeysekera, Vasantha. 2012. "A conceptual framework for client financed construction and non-traditional approaches for financing construction work." World Construction Conference 2012: Global Challenges in Construction Industry. Colombo, Sri Lanka 28 - 30 Jun 2012 Colombo, Sri Lanka.
Paper/Presentation Title

A conceptual framework for client financed construction and non-traditional approaches for financing construction work

Presentation TypePaper
Authors
AuthorAbeysekera, Vasantha
Journal or Proceedings TitleProceedings, World Construction Conference 2012: Global Challenges in Constrcution Industry
Number of Pages8
Year2012
Place of PublicationColombo, Sri Lanka
ISBN9789554516021
Web Address (URL) of Paperhttps://worldconstructionsymposium.com/
Conference/EventWorld Construction Conference 2012: Global Challenges in Construction Industry
Event Details
World Construction Conference 2012: Global Challenges in Construction Industry
Event Date
28 to end of 30 Jun 2012
Event Location
Colombo, Sri Lanka
Abstract

The basic premise of the client-financed-construction philosophy is that those who commission service providers must not only pay for their services for the cost of their labour, materials, plant and equipment but do so in a manner that adds value to all parties. A new framework for proposing, evaluating and implementing such systems has been conceived which is used for evaluating three non-traditional approaches for financing construction work, and thereby validating the framework. The three approaches, namely, ‘rolling advance payment’, ‘rolling material price advance’, and ‘direct financing’ have been described and analysed with the ‘rolling advance payment’ approach being described as a revolutionary approach for solving problems connected with financing contractors and as an approach that has much potential to add value to all parties. The two systems are particularly useful as a crisis management system in projects saddled with cash flow problems bringing ‘life’ to almost ‘dead’ projects with potential benefits to all parties. The paper calls for good construction project management as an essential condition for implementing these schemes with particular attention given to risk management and local construction culture.

Keywordscash flow, construction contracts, contractor finance, risk management
ANZSRC Field of Research 2020330202. Building construction management and project planning
330299. Building not elsewhere classified
Public Notes

Published version © Ceylon Institute of Builders - Sri Lanka.

Byline AffiliationsFaculty of Engineering and Surveying
Institution of OriginUniversity of Southern Queensland
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https://research.usq.edu.au/item/q1561/a-conceptual-framework-for-client-financed-construction-and-non-traditional-approaches-for-financing-construction-work

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