WCS - 2017

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Browsing WCS - 2017 by Author "Anuruddika, SMN"

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    Opportunities and challenges faced by the Sri Lankan construction companies in the stock market
    (Ceylon Institute of Builders, 2017-06) Siriwardhana, SMWL; Disaratna, PAPVDS; Anuruddika, SMN; Wimalasena, NN; Sandanayake, YG; Ramachandra, T; Gunatilake, S
    In recent years, the social and technological changes originating from globalization, information revolution and knowledge-based economy fundamentally modified the construction industry environment. Local contractors need to originate a strategy to upgrade not only its technological capacity, but also the financial capacity to compete successfully in this landscape. Access to capital is one of the key strategic asset which contributes to the success of construction firms. This research focuses on to determine suitability of financing through the Stock Market for construction companies. Survey approach was used to collect data. Mainly questionnaire was designed to identify the opportunities and challenges in the Stock Market for a construction company. Semi structured interviews were conducted to identify the strategies to enhance opportunities and face challenges in Stock Market. Preliminary survey was carried to structure the questionnaire. The data gathered related to the challenges were analysed using SPSS one sample t-test and IPA matrix. Simple graphical analysis methods and manual content analysis technique also were used to analyse data. A total number of 22 opportunities related to the Stock Market for a construction company were identified during the questionnaire survey and semi-structured interviews. Then identified the 17 challenges related to the Stock Market for a construction company. However, just only 4 number of challenges were identified as critical challenges. Mechanisms available to enhance opportunities and to face challenges in the Stock Market were investigated. Finally, identified that financing through Stock Market is a better opportunity for the construction companies in Sri Lanka.
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    Procurement system selection model for the Sri Lankan construction industry
    (Ceylon Institute of Builders, 2017-06) Chanudha, RAC; Disaratna, PAPVDS; Anuruddika, SMN; Ariyachandra, MRMF; Sandanayake, YG; Ramachandra, T; Gunatilake, S
    Construction procurement system involves processes of acquiring services and products for the project activities starting from investigation up to the completion. With the development of new concepts and technologies, construction procurement arrangements have also advanced. Erroneous selection of a procurement system usually leads project to failure. Although, several procurement selection tools have been developed to minimize the adverse effect of overwhelmed wrong selections, those tools are not widely used in Sri Lanka (SL). Hence, it is vital to propose a new Procurement System Selection Model (PSSM) which can overcome barriers of existing PSSM. A qualitative approach was used to identify prevailing practices and barriers to practice existing selection methods. Decision charts were developed by assigning average utility values for functional grouping, payment method and pricing mechanism. Accordingly, the preliminary procurement system selection framework was arranged which includes seven steps namely; appoint an independent advisor, identification of project brief, identification and prioritizing factors affecting selection of procurement selection, choose functional grouping and payment modality, presentation of options found in step four in ascending order, selection of procurement strategy by the client and selection of parties involved in the project. Ultimately, proposed PSSM in this study merge the existing selection procedure in SL in a manner that leads selection into its best position. The study further recommends timely modernization of decision charts with Average Utility Value (AUV) and procurement systems, since suitability of each procurement system to selection criteria may change with development of construction industry.
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    Special purpose vehicle (SPV) model for private finance initiatives for large scale infrastructure projects in Sri Lanka
    (Ceylon Institute of Builders, 2017-06) Chandrarathna, BASW; Disaratna, PAPVDS; Anuruddika, SMN; Wimalasena, NN; Sandanayake, YG; Ramachandra, T; Gunatilake, S
    Sri Lankan infrastructure development funding take up a good portion from the country annual budget. To cover up the cost of infrastructure projects, Sri Lanka use foreign funds and loans along with domestic earnings. Due to this process continuation for a long time, Sri Lanka has now ended up with dependencies to other countries. This research focus on studying Private Financing Initiatives (PFI) as an alternate solution for loans and insufficient Gross Domestic Product (GDP). Identifying available alternative methods, assessing suitability on private financing and developing a suitable Special Purpose Vehicle (SPV) model to suit Sri Lankan industry is the main objectives of this research. Moreover, what is PFI and how PFI was applied in other countries in their large-scale development projects, characteristics of PFI, how PFI can be attached with SPVs, what is an SPV have also studied using the available literature. In order to identify a suitable SPV in a PFI agreement, different types of SPV models has being compared. Further reasons for failure and rare existence of PFI in Sri Lanka, how PFI can be adopted to Sri Lanka, success factors, suitability of PFI and SPV, if a SPV is adopting to Sri Lanka how its relationships to be formed was identified by carrying out in-depth interviews. As conclusion, factors related to making a trend in PFI for project funding in Sri Lanka, government contribution in such projects and the need of change in government policies to bring up PFI contracts with a SPV, providing solutions for resisting PFI and leads to a successful adoption of PFI has being discussed.