Impact of Sustainable Development in Construction Industry

Home Assignment Answers Impact of Sustainable Development in Construction Industry

Introduction

Sustainable development which is also known as ecological development is responsible for fulfilling the demands of present world without any compromise to the needs of the future generation. the report is formulated containing a research question, research purpose and an approach to do a research. on the basis of research question, hypothesis is formulated and mixed research approach is followed. Data is collected from the secondary and primary resources and the hypothesis are tested with the use of correlation test.

Research purpose

  • The main purpose is to identify sustainable development impact on construction sector.
  • To identify the impact of sustainable development on financials of construction sector.

Research question

What is the impact of sustainable development on financials of construction sector?

Research hypothesis

H1: There is a positive impact of sustainable development on financials of construction sector.

H2: There is a negative impact of sustainable development on financials of construction sector.

Research approach

Mixed research approach is followed in the research in order to find the impact of sustainable development on financials of construction sector. Under the mixed method approach, data is collected from the primary and secondary resources. The primary data is collected in order to identify the sustainable development impact on the construction sector and the secondary data is collected in order to find the impact of sustainable development on the financials of construction sector. The primary data is collected from the primary resources with the use of questionnaire-based survey and secondary data is collected from the secondary resources such as CSR reports, financial year reports. Qualitative research method is applied on primary data and quantitative research method is applied on secondary data.

Data collection techniques

Qualitative: Primary data collection

Primary data is collected from the primary resources with the use of questionnaire-based survey. these primary resources are the employees of the construction sectors of Australia such as John Holland, Nexus infrastructure, BGC and ProBuild. The questionnaire is closed and open ended included 4 questions and is distributed through emails. 20 participants are included with 1-3-year experience in the construction sector. The participants are from different designations like site engineers, consultants, principal designer, project manager and contract manager.

Research Question

Company name

Respondent’s designation

Years of experience

Number of respondents included

RQ.1: What is the impact of sustainable development on financials of the construction industry?

 

John Holland, Fulton Hogan, BGC and ProBuild

Contract Manager (4), site engineer (5), project manager (2), principle designer (4), consultant (5).

1-3 years

20

Questionnaire

Q.1: what designation is hold by you in your construction company?

a)     Project manager

b)    Principe designer

c)     Site engineer

d)    contactor

e)     Consultant

Q.2: From how many years you have been working in you company?

a)     1 year

b)    1-2 years

c)     2-3 years

Q.3: Do you think that sustainable development effects the financials of your construction company?

a)     Yes

b)    No

Q.4: What is the effect that you have identified by incorporating sustainable development in construction company?

Secondary data collection

The secondary data is collected from the secondary resources such as CSR reports and financial year reports of last 5 years of Australian construction sectors.

RQ What is the impact of sustainable development on financials of the construction industry?

CSR reports and financial year reports of Australian construction sectors

 

Analysis

Results from primary data collection

The 65% of the respondents are agreed with the point that the sustainable development has the significant impact on the overall financials of construction sector. 30% of the respondents of the questionnaire believed that the capital cost is affected by the sustainable development, on the other side, 30% of the respondents argues that there is not any effect of sustainable development on the capital cost. From the overall result of the questionnaire-based survey, the results indicate that the main impact of the sustainable development can be seen on the capital cost (De-Fazio and Johnson, 2017).

Results from secondary data collection: quantitative research

Results collected from the secondary data collection are analyzed or tested with the use of correlation test. From the CSR reports, it is clear that the implementation of the sustainable development is able to reduce the capital operating cost with recycling machines (Kataria, Pathak and Shah, 2013). The sustainable development is also helpful in using the cost effective as well as innovative solutions for the construction projects. from the financial year reports, it is clear that sustainable development is helpful in reducing repair and transfer cost of the construction projects. hence, it is concluded that there is a significant impact of the sustainable development on the construction sectors.

Results from correlation test

 

Research hypothesis

Dependent variable

Independent variable

 Financials of construction project

Integration of sustainable development

H1 There is positive impact of sustainable development on the financials of the construction project

 

0.78

This value indicates that there is a positive impact of sustainable development on financials of the construction project.

H2 There is negative impact of sustainable development on the financials of the construction project

Limitations and scope

  • There is not any guarantee that the respondents of the questionnaire -based survey respondent to the questions of survey truthfully. Hence, the use of questionnaire-based survey for gathering data can be the limitation of proposed research.
  • The overall research design includes both the qualitative and quantitative method which makes the overall research design more complex and there is also complexity in formulating the research questions.

Scope

In future, the research aims to reduce the complexity of the research by using only the quantitative research approach. The research will use quantitative research approach so that the exact results with proper testing and validation can be obtained.

Conclusion

The research follows the mixed approach in order to answer the research questions and the research hypothesis. from the results of the correlation test and questionnaire-based survey, it is concluded that clear that the implementation of the sustainable development is able to reduce the capital operating cost with recycling machines. And there is significant effect of sustainable development on the capital cost. Hence, it is clear that the sustainable development practices make the positive impact on financials of construction sector.

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