Critical Factors Affecting Construction Price Index: An Integrated Fuzzy Logic and Analytical Hierarchy Process

• 발행기관: 한국유통과학회
• 저자명: Phong Thanh NGUYEN Quyen Le Hoang Thuy To NGUYEN
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.8, 197~204쪽, 전체 8쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2020.08.30

영문 초록

Nowadays;many construction engineering and technology enterprises are evolving to find that prosperity is driven and inspired by an open economy with dynamic markets and fierce multifaceted competition. Besides brand and product uniqueness;the ability to quickly provide customers with quotes are matters of concern. Such a requirement for prompt cost estimation of construction investment projects with the use of a construction price index poses a significant challenge to contractors. This is because the nature of the construction industry is shaped by changes in domestic and foreign economic factors;socio-financial issues;and is under the influence of various micro and macro factors. This paper presents a fuzzy decision-making approach for calculating critical factors that affect the construction price index. A qualitative approach was implemented based on in-depth interviews of experts in the construction industry in Vietnam. A synthetic comparison matrix was calculated using Buckley approach. The CoA approach was applied to defuzzified the fuzzy weights of factors that affect the construction price index. The research results show that the top five critical factors affecting the construction price index in Vietnam are (1) consumer price index;(2) gross domestic product;(3) basic interest rate;(4) foreign exchange rate;and (5) total export and import.

목차

1. Introduction

2. Literature Review

3. Research Methodology

4. Results and Discussion

5. Conclusions

References

키워드

Analytical Hierarchy Process Construction Enterprises Construction Price Index Multiple Decision Making Fuzzy Logic