Integration of Financial and Contract Management on the Shanghai Expo Construction Program
Publication: Journal of Construction Engineering and Management
Volume 139, Issue 6
Abstract
The management of facility construction for hallmark events is critically important for their financial viability. However, little knowledge has been produced regarding the management of this type of construction. Based on the construction program for the Shanghai Expo 2010 and other cases reported in the literature, this paper provides an analysis of the common characteristics of construction for hallmark events, the challenges of financial management due to these characteristics, techniques to address these challenges, and lessons learned from the Expo construction. It is believed that one critical factor that contributes to the success of the Expo construction program is the integration of the financial management and contract management processes, assisted by a specifically designed computer program. The techniques used to integrate the two processes involve (1) mapping the program’s work breakdown structure, cost breakdown structure, and contract breakdown structure; (2) integrating the information flow between the two processes; and (3) automation in information generation, dissemination, and storage. Areas that may be further improved in managing construction programs of a similar nature are also discussed.
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Acknowledgments
The research on program integration management was funded by Shanghai Urban Construction and Communications Commission.
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Published In
Journal of Construction Engineering and Management
Volume 139 • Issue 6 • June 2013
Pages: 738 - 748
Copyright
© 2013 American Society of Civil Engineers.
History
Received: Feb 9, 2011
Accepted: Jun 6, 2012
Published online: Jul 24, 2012
Published in print: Jun 1, 2013
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