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Using Purchasing Power Parity To Assess Construction Productivity, Rick Best
Using Purchasing Power Parity To Assess Construction Productivity, Rick Best
Rick Best
For many reasons comparing construction productivity between countries is a difficult task. One key problem is that of converting construction costs to a common currency. This problem can be overcome relatively simply by using a basket of construction materials and labour, termed a BLOC (Basket of Locally Obtained Commodities), as a unit of construction cost. Average BLOC costs in each location are calculated from data obtained from a number of sources (quantity surveyors, estimators). Typical building costs obtained from published construction cost data are expressed in BLOC equivalents. Lower BLOC equivalents represent higher productivity as other inputs (largely materials) are …
The Development And Testing Of A Purchasing Power Parity Method For Comparing Construction Costs Internationally, Rick Best
Rick Best
Over the past fifty to sixty years there have been numerous attempts to compare the performance of the construction industries of different countries. In almost all cases the cost of construction has been an important, sometimes the single parameter Cost performance has sometimes been equated to productivity, and productivity measurement and comparison is attempted by governments and their agencies on a regular basis.
Fundamental to these exercises has been the necessity to bring construction costs in different national currencies to a common base. This is imperative as amounts in different currencies cannot be directly compared.
Money market exchange rates do …