A Framework to Evaluate Information and Source Credibility: International Construction Decision-Making
Publication: Journal of Management in Engineering
Volume 40, Issue 1
Abstract
Global firms involved in the architecture, engineering, and construction (AEC) domain analyze the risks, benefits, and future market potential of various host countries for business development purposes. Further, appropriate entry modes and business strategies are developed to navigate the complex formal and informal institutions of the host country. Researchers have proposed comprehensive data-driven international construction risk management models to assist global AEC companies in undertaking such investment decisions. However, the reliability and accuracy of these risk assessment models depend on the credibility of the information utilized for analysis. This study presents existing theories describing how humans make credibility judgments and emphasizes the importance of establishing a systematic framework to evaluate the credibility of data sources. Through a literature review, this paper first defines information and source credibility from the perspective of international construction decisions. Second, this paper proposes a framework with (1) five criteria and 20 metrics for information credibility; and (2) three criteria and 18 metrics for source credibility. A survey questionnaire was conducted with construction executives to determine the relevancy and relative importance of the identified criteria and metrics. The implications of this study highlight the critical role of credibility in international construction risk assessment. Stakeholders involved in international construction projects can benefit from recognizing the significance of credible information sources and integrating them into their risk management strategies.
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Data Availability Statement
Some or all data, models, or code that support the findings of this study are available from the corresponding author upon reasonable request.
Acknowledgments
The authors would like to acknowledge the efforts of Mr. Tim Wilschetz (retired partner, KPMG) and Dr. Samuel Labi (professor at Purdue University) for their inputs and suggestions to brainstorm the concept, verify the adequacy of the research methodology, and for carefully reviewing the results. The authors also want to thank the Division of Construction Engineering and Management at Purdue for assisting the research team in conducting the survey questionnaire. The authors also extend a thankful note to the board members who responded to the survey questionnaire and reached out with additional considerations for the betterment of the research outcomes.
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Journal of Management in Engineering
Volume 40 • Issue 1 • January 2024
Copyright
© 2023 American Society of Civil Engineers.
History
Received: Feb 21, 2023
Accepted: Jul 18, 2023
Published online: Sep 27, 2023
Published in print: Jan 1, 2024
Discussion open until: Feb 27, 2024
ASCE Technical Topics:
- Architectural engineering
- Business management
- Business organizations
- Commercial construction
- Construction companies
- Construction engineering
- Construction industry
- Construction management
- Decision making
- Disaster risk management
- Engineering fundamentals
- Measurement (by type)
- Metric systems
- Organizations
- Practice and Profession
- Risk management
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