Acknowledgement
The authors wish to thank the Korea Research Foundation for providing the funding that made this study possible.
Overseas construction projects tend to be more complex than domestic projects, being exposed to more external risks, such as politics, economy, society, and culture, as well as more internal risks from the project itself. It is crucial to have an early understanding of the project condition, in order to be well prepared in various phases of the project. This study compares a structural equation model and multiple regression analysis, in their capacity to predict cost performance of international construction projects. The structural equation model shows a more accurate prediction of cost performance than does regression analysis, due to its intrinsic capability of considering various cost factors in a systematic way.
The authors wish to thank the Korea Research Foundation for providing the funding that made this study possible.