Understanding financial feasibility studies as an artefact in quantity surveying practice
| dc.contributor.author | Terblanche, Rolien | |
| dc.date.accessioned | 2023-04-11T10:43:42Z | |
| dc.date.available | 2023-04-11T10:43:42Z | |
| dc.date.issued | 2022 | |
| dc.description | A thesis submitted in fulfilment of the requirements for the degree of Doctor of Philosophy in the field of Quantity Surveying to the Faculty of Engineering and the Built Environment, School of Construction Economics and Management University of the Witwatersrand, Johannesburg, 2022 | |
| dc.description.abstract | Quantity surveying, also known as cost engineering, is a profession that administers financial services to construction projects. Among other services, quantity surveyors prepare financial feasibility study reports (feasibilities) and communicate the detail of these to developers. A feasibility offers financial information of proposed construction project investments, which informs the decision-making regarding these investments. These reports are critical to the success of construction projects. Therefore, ensuring their accuracy and reliability is vital. Yet, in the industry, these feasibilities have been classified as largely neglected, faulty, inconsistent, confusing and problematic. As an artefact in the profession, the research aims to improve understanding around feasibilities, through exploring perspectives of both key stakeholders (quantity surveyors and developers) and by analysing the artefact itself. In this regard, the Actor-Network Theory (ANT) is a useful theoretical and analytical tool, specifically to identify the factors that form part of the feasibility process including the network showing how everything is connected. This holistic view of the feasibility process appears to be absent in literature and which would greatly help understand feasibilities. The concepts central to this study are communication, financial feasibility study reports, and ANT, within the quantity surveying profession. Empirical research data has been collected through semi-structured interviews with 23 quantity surveyors (the compilers and communicators) as well as 23 developers (the interpreters and decision-makers). Additionally, a document analysis was done with 18 collected feasibilities. Therefore, this study is carried out through mixedmethod research. This created a new approach and contribution to knowledge. An abductive approach has been adopted for this thesis, which addresses the problem from a pragmatist point of view. The research established that the quantity surveyors and developers have different uses for these feasibilities, apply different underlying meanings to them, as well as different definitions of a successful feasibility (among various other differences). Through the document analysis, it is clear that in practice, feasibilities are inadequate in terms of efficient document design and audience expectations. Additionally, factors (known as actants in ANT) that form part of the feasibility compilation and communication process were identified through the systematic literature review, interviews, and document analysis. These identified actants forms the feasibility actor-network. Data from these various sources were integrated, allowing a holistic view of the feasibility process to emerge. The network of the feasibility process is mapped and drawn from the findings, a framework is ultimately given. This framework contributes to a better understanding of feasibilities and could serve as a guide in practice. Subsequently, recommendations are made that could improve standardised feasibility processes in practice. | |
| dc.description.librarian | NG (2023) | |
| dc.faculty | Faculty of Engineering and the Built Environment | |
| dc.identifier.uri | https://hdl.handle.net/10539/34947 | |
| dc.language.iso | en | |
| dc.phd.title | PhD | |
| dc.school | School of Construction Economics and Management | |
| dc.title | Understanding financial feasibility studies as an artefact in quantity surveying practice | |
| dc.type | Thesis |