Forensic Delay Analysis as Evidence of Transaction Costs in Construction Projects

Abstract Construction projects are characterised by supply chains with multiple contracts and significant transaction costs. An example of these costs is to be found in the management project delays. The operationalisation measurement costs, especially construction context, has hitherto proved difficult. work reported here concerned defining measuring resources required for contractual disputes relating Its main argument that concepts from cost economics (TCE) theory (bounded rationality, uncertainty, information asymmetry, opportunistic behaviour) present serious problems efficiency. This exemplified forensic analysis Data twelve case studies analysed, reveal up 90% time spent on delay was searching validating which could, ostensibly, automatically reliably captured using digital technologies. research forms part a wider study considers implications identified inefficiencies makes exploitation advances technology more efficient resolution (or even avoidance) disputes. It concludes there prima facie this, therefore reduction relate