BSpace Repository :: Browsing by Author "Almarri, Khalid"

Browsing by Author "Almarri, Khalid"

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A risk-adjusted decoupled-net-present-value model to determine the optimal concession period of BOT projects
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/BEPAM-12-2019-0134/full/html, 2020-09) Nguyen, Nhat; Almarri, Khalid; Boussabaine, Halim
Purpose The net-present-value (NPV) method is well-known for its drawbacks. To overcome some of these NPV weaknesses this paper aims to provide a methodology to determine an optimal concession period that treats risk and time separately. The purpose of this paper is to apply the notion of risk-adjusted decoupled net present value (risk-adjusted DNPV) to determine a conception period taken into consideration synthetic insurance premiums as compensation for risks. Design/methodology/approach This paper conducts theoretical and empirical analysis and provides an integrated model for deriving concession periods of any PPP projects. The model is able to capture several contractual issues such risks costing and other contractual scenarios. Methodologically, the paper addressees both the issues of risk-based cost–benefit analysis and cash flow analysis bearing an emphasis of risk-adjusted DNPV to compute an optimum concession period. Findings The results show that using DNPV will produce a shorter concession period comparatively to NPV. The consequence of this is that the public sector will gain financially from an earlier transfer of the concession. Research limitations/implications This paper contributes to the PPP literature by combing DNPV and risk to determine the PPP concession period for the mutual benefits both the private and public sectors. The decoupling of risk from traditional NPV computation will allow for risk pricing and tradability through insurance and allocation. Originality/value The attempt to decouple time and risk in the computation of NPV is the added value to the body of knowledge.
An empirical study on measuring operating efficiency and revenue of real estate assets in the UAE using data envelopment analysis
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/JFM-10-2021-0112/full/html, 2022-08) Alafifi, Abdulrahman; Boussabaine, Halim; Almarri, Khalid
Purpose This paper aims to examine the performance efficiency of 56 real estate assets within the rental sector in the UAE to evaluate the relative operation efficiency in relation to revenue generation. Design/methodology/approach The data envelopment analysis (DEA) approach was used to measure the relative operational efficiency of the studied assets in relation to the revenue performance. This method could produce a more informed and balanced approach to performance measurement. Findings The outcomes show that scores of efficiencies ranging from 7% to 99% in some of the models. The results showed that on average buildings are 75% relatively less efficient in maintenance, in term of revenue generation, than the benchmark set. Likewise, on average, the inefficient buildings are 60% relatively less efficient in insurance. Result also shows that 95% of the building assets in the sample are by and large operating at decreasing returns to scale. This implies that managers need to considerably reduce the operational resources (input) to improve the levels of revenue. Research limitations/implications This study recommends that the FM operational variables that were found to inefficiently contribute to the revenue should be re-examined to test the validity of the findings. This is necessary before generalising or interpolating the results that are presented in this study. Practical implications The information obtained about operational performance can help FM managers to understand which improvements in the productivity of inefficient FM resources are required, providing insight into how to reduce operating costs and increase revenue. Originality/value This paper adds value in using new FM operational parameters to evaluate the efficiency of the performance of built assets.
An evaluation of the impact of risk cost on risk allocation in public private partnership projects
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/ECAM-04-2018-0177/full/html, 2019-06) Almarri, Khalid; Alzahrani, Saleh; Boussabaine, Halim
Purpose – A unique aspect of PPP is the opportunity for the transfer of risk ownership to the private sector. The purpose of this paper is to investigate how risk cost influences risk allocation. Design/methodology/approach – A questionnaire survey was used to collect data. The questionnaire included nine sub-categories of risks. To quantify the influence of risk cost on risk allocation, a dependency risk matrix was employed. Heat maps techniques were used to visualise the results of the survey. Findings – The findings show which risks within the endogenous or exogenous groups are to be allocated to the public sector, the private sector, or to be shared. The finding from this research provides a baseline for the PPP stakeholders in developing guidelines for estimating the value of risk costs in the risks register as well as serving as a mechanism for risk allocation. Research limitations/implications – The context of the study may limit the generalisability of the results. Practical implications – The study provides practical guidance to PPP stakeholders on risk allocation appetite. Originality/value – This study extends the processes and methods by which PPP project’s risk is allocated to create a better value for all the stakeholders.
Comparative analysis of the value for money factors of PPPs between the UAE and the UK
(Taylor & Francis https://www.tandfonline.com/doi/abs/10.1080/15623599.2018.1544450, 2018-12) Almarri, Khalid
Public private partnerships (PPP) procurement instruments have been very popular tools for developing projects around the world. This is largely due to their success in bringing quality, efficiency, innovation, funds, experience and most importantly risk sharing to the projects they are involved in. This study aims to pinpoint the value for money (VFM) factors that are needed to implement PPP mechanisms in transitional economies, where the United Arab Emirates (UAE) is taken as a case study, whose findings will be contrasted to that of a UK sample, a developed economy. Relevant data was collected through a questionnaire to establish the VFM factors for each of the two countries. In this study, data was collected from 30 participants in the UAE, and 62 participants residing in the UK. A comparative analysis between the results of both countries revealed a great deal of similarity of the significant impact of the VFM factors on the assessment of PPP. The same four factors were chosen as the most important ones by both samples out of the sixteen factors for delivering VFM outcomes. These factors were optimized risk allocation, competitive bid process, improved services to the community, and clear output specification. This study contributed to practice by highlighting to the sponsors the most important VFM factors and group of factors to consider when assessing the VFM of any potential PPP project. This study also contributed to research in the field of PPPs in the UAE and the UK. The comparative analysis between the two countries highlighted the similarities and differences in the practice and opened areas for future consideration.
Critical success factors for public–private partnerships in smart city infrastructure projects
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/CI-04-2022-0072/full/html, 2023-04) Almarri, Khalid; Boussabaine, Halim
Purpose Scaling up smart city infrastructure projects will require a large financial investment. Using public–private partnerships is one of the most effective ways to address budget constraints. Numerous factors have varying degrees of influence on the performance of Public private partnerships (PPP) projects; certain PPP factors are more crucial to the success of a smart city infrastructure project than others, and their influence can be greatly increased when they are fulfilled collectively. This study aims to find out what factors are unique to smart city PPP initiatives, as well as how these factors work together, so that successful smart city infrastructure PPP projects can be scaled up. Design/methodology/approach The methodology included three sequential stages: identifying the critical success factors (CSF) of PPP for smart cities based on an extensive literature review, collecting data from a sample of 90 PPP practitioners using a Likert scale questionnaire and estimating interrelationships among the CSF and their emergent clusters using structural equation modelling. Findings The best fit model developed in this study demonstrated the significance of each factor and their interrelationships within their categories in enhancing the performance of PPPs in smart city infrastructure projects. Five categories of critical success factors for PPPs in smart city infrastructure projects have been established: partnership and collaboration; financial sustainability; contractual duties and outsourcing; smart integration; and contract governance. Practical implications The proposed model represented the causal interrelationships among relevant critical success factors derived from literature, which may help in directing the organization’s attention and resources to more critical areas, leading to the effective fulfilment of the smart city infrastructure project’s objectives. In addition to the theoretical and methodological contributions, this study produced a usable and readily adaptable list and clusters of critical success factors for research in the area of the implementation of PPP in smart city infrastructure projects. Originality/value To the best of the authors’ knowledge, this is the first study to identify PPP critical success factors and their themed clusters for smart city infrastructure projects.
Developing a Framework for Implementing Public Private Partnerships in a Research Reactor Project in the United Arab Emirates
(The British University in Dubai (BUiD), 2015-04) Almarri, Khalid
Public private partnerships (PPP) procurement instruments have been very popular tools for developing projects around the world. This is largely due to their success in bringing quality, efficiency, innovation, funds, experience, and most importantly risk sharing to the projects they are involved in. The UAE is currently developing a peaceful nuclear energy program in response to the future demands. Research is required to support nuclear energy generation projects in order to maximize their performance. Research of this type will require a research reactor to be developed, which will also benefit other industries such as transportation, health services, construction, petro chemicals, in addition to technical colleges and R&D facilities. Collaborations between government and private parties through public private partnerships (PPP) can maximize the benefits expected from the adoption of a research reactor project. The aim of this research is to develop a framework for establishing a research reactor (RR) project in the UAE through the utilisation of public private partnerships (PPP). The aim of this study was arrived at in three steps. The first step was thorough literature research of detailed investigative works to identify the best practices in PPP implementation globally and customizing it for the establishment of a generic PPP framework for the UAE. Through the qualitative content analysis approach, assisted by Nvivo software, a five-stage generic framework was produced. Second, a questionnaire was used to draw data for the establishment of the PPP critical success factors for the UAE, in which data was collected from 30 participants from the UAE and 62 participants from the UK. The participants were PPP practitioners or researchers. This enabled the comparative analysis process to add a local dimension to the generic framework. Finally, semi-structured interviews conducted with 10 experts in the field of research reactors, using grounded theory method, established the success factors for research reactors. These factors would be unique in the sense that they complement the implementation of the PPP framework in the research reactor project while staying within the UAE context. The findings of the comparative analysis of the two samples between the UAE and the UK showed a significant similarity in PPP practice trends between the two in the three areas analysed; attractive factors, value for money factors, and the critical success factors. The core phenomenon that impairs the success of research reactors was identified to be underutilization. Causal conditions that stemmed from project initiation work were found to be the main sources of said underutilization. This included the reduction of government intervention to help mitigate the risk of underutilization. The contextual conditions responsible for creating these circumstances were of both local and regional contexts and viability. The practical implications of this research are mainly related to the development of the first PPP framework for the UAE, and more specifically for a research reactor project. The contributions of this research to the body of knowledge are related to the highlighted similarities and differences in the practice between the UAE and the UK, which opened areas for future consideration. In the research reactor field, the identified causal, intervening, and contextual conditions opened new areas for future research.
Emerging contractual and legal risks from the application of building information modelling
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/ECAM-06-2018-0224/full/html, 2019-06) Almarri, Khalid; Aljarman, Moshabab; Boussabaine, Halim
Purpose There has been a mounting interest in building information modelling (BIM) in the construction industry sector worldwide due to its perceived benefits. However, reliance on information technology is associated with risks. The purpose of this paper is to offer a better understanding of the emerging contractual and legal risks, which might influence the successful adoption of BIM, in order to facilitate the successful implementation of BIM in the construction industry. Design/methodology/approach The risks used in the study were documented from the literature, and primary data were collected by a questionnaire survey. The analysis of the results was driven by univariate and inferential statistics (Analysis of Variance) to identify the emerging contractual and legal risks. Findings The findings showed that there were little significant differences in the mean rating of the occurrence of contractual and legal risks between the respondents. The study confirmed that emerging risks are likely to be related to BIM documentations, intellectual rights and liability, missing data and misplaced assumptions among project stakeholders. The results showed that BIM success depends on close collaboration, at the outset of the project, with the client, designers, contractors and consultants. Practical implications The findings suggest that contract documents and contract agreements may need to be created in accordance with the identified risks, so that the questions of contractual and legal responsibilities are appropriately defined and allocated among the participants. Originality/value Important legal and contractual risks have been identified in the application of BIM. It renders a new understanding of the risks that might influence the successful adoption of BIM.
Emerging financial risks from climate changes on building assets in the UK
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/F-05-2017-0054/full/html, 2018-08) Alzahrani, Abdullah; Boussabaine, Halim; Almarri, Khalid
Purpose – The different scenarios of climate change, such as floods, temperature change and storms, are considered the main drivers influencing the building sector. Understanding how and when these climatic risks will emerge, specifically financial risks, is pivotal in dealing with these risks and applying the adaptation and mitigation strategies so as to minimise the effects and damages. Thus, the purpose of this paper is to discover the financial risks emerging from climate change impact on the building sector and determine the timescale of occurrence for such risks. Design/methodology/approach – The research methodology formulated in this study is founded on a systematic literature review and statistical analysis. Built on this, the potential financial risks emerging from climate change scenarios (CCS) were identified and designed as a questionnaire to collect data from UK expert professionals. Statistical methods were used to rank and compare the outcomes of the survey. Findings – The research observed that around 40 per cent of the participants in this study indicated that one-third of the total identified financial risks (23 factors) would emerge within 5-10 years. The most important factors are increased insurance excess and additional expense in insuring buildings in flood risk zones, whilst the least important financial risks are inability to repay debts and un-insurability because of climate change. Research limitations/implications – This study is limited to the UK, and regional implications are not covered. However, it is a starting point. Originality/value – The main contribution of this research project is establishing and developing clusters of the potential risks emerging from CCS, which can assist professionals in the building sector in the management and development of strategies to cope with these emerging risks.
Emerging managerial risks from the application of building information modelling
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/JFM-01-2020-0002/full/html, 2020-12) Almarri, Khalid; Aljarman, Moshabab; Boussabaine, Halim
Purpose Building information modelling (BIM) technology adoption is growing rapidly because of its perceived benefits. The purpose of this paper is to assess the perceptions of the users of BIM regarding the likelihood of managerial risks emergence that might influence the successful application of BIM, to facilitate the successful implementation of BIM in the construction industry. Design/methodology/approach Emerging managerial BIM risks were extracted from the literature. The primary data were collected via a questionnaire survey. The analysis of the results was driven by univariate and inferential statistics (analysis of variance ) to assess the emergence of managerial risks. Findings The study confirmed the nine most likely managerial risks that might emerge from BIM adoption, which are lack of understanding of the expectations from BIM modelling, lack of experienced and skilled personnel, lack of clarity on integration of BIM with the current business practice, conflict because of dissimilar expectations from BIM, lack of collaborative work processes and standards, lack of understanding of BIM processes, lack of understanding modelling behaviours, lack of expertise within the project team, lack of expertise within the organizations and lack of criteria for BIM project implementation. Research limitations/implications The results will intensify the discussion about BIM risks, risk allocation and other aspects that are related to BIM methodology. The compiled list of managerial risks will help stakeholders in assessing financial implications that may result from BIM application. The list of risks could be used in pricing consultancy and construction services. More importantly, the list might be useful in developing an international standard for BIM risk management. The results showed that BIM success depends on the close collaboration, at the outset of the project, with contractors, consultants, designers and client. Originality/value Important managerial risks have been identified in the adoption of BIM. It renders a new understanding of the risks that might influence the successful application of BIM.
Ensuring the Fourth Industrial Revolution’s Connectivity Requirements in the UAE
(Springer Link, 2023) Alawadhi, Khalid; Almarri, Khalid
The international community has recognized the critical role of information and communication technology (ICT) in the advancement of humanity. ICT is a critical component of each of the United Nations’ (UN) 17 Sustainable Development Goals (SDGs) (ITU 2021). Nonetheless, 48% of the world’s population remains unconnected to the internet (Henri 2020, p. 2), resulting in what is referred to as the digital divide. The information and communications technology industry is making strenuous efforts to provide diverse connectivity options in metropolitan areas. However, little effort is being taken to guarantee that underserved markets are connected (Sheikh and Halima 2020). In the UAE, we identify underserved markets and classify them as rural villages, remote agricultural/industrial areas, and vehicles in motion. By examining the present ICT market, we can discover a possible solution to this problem through the use of cutting-edge satellite communications technology. Numerous initiatives involving the use of Non-Geostationary Orbit (NGSO) satellites to deliver broadband access began to emerge. The primary benefit of NGSO satellites over Geostationary Orbit (GSO) satellites is their proximity to the Earth’s surface (NGSO is approximately 2000 km above sea level, while GSO is at an elevation of around 36,000 km above sea level). The objective is to perform market research and analyze the connectivity solutions available today. Finally, we will be able to choose the option that is expected to resolve the issue.
Perceptions of the attractive factors for adopting public–private partnerships in the UAE
(Taylor & Francis https://www.tandfonline.com/doi/abs/10.1080/15623599.2017.1382082, 2019) Almarri, Khalid
Public–private partnerships (PPPs) procurement instruments have been very popular tools for developing projects around the world. Through the literature review of peer-reviewed papers, the attractive factors for adopting PPP models were identified. It was warranted to study these factors from a local perspective and triangulate them with the UK factors, which was established as one of the best globally. Through a questionnaire tool, data were collected from 30 participants residing in the UAE and 62 participants residing in the UK. The attractive factors sought after in the implementation of PPP projects were identified to be 13 factors. The attractive factors were further subjected to a multiple regression analysis to establish their influence on the success of PPP projects. The findings show that PPPs are considered to be attractive because they facilitate the transfer of private sector’s skills and experience to the public party, utilize private sector’s funds, add value for money, and transfer risk to the private party. This study contributed to research in the field of PPPs in the UAE and the UK and highlighted the similarities and differences in the practice and opened areas for future consideration.
Re-evaluating the risk costing agenda in PPP projects
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/BEPAM-12-2019-0141/full/html, 2020-11) Almarri, Khalid; Boussabaine, Halim
Purpose The level at which risk is priced and the magnitude of risks transferred to the private sector will have a significant impact on the cost of the public–private partnership (PPP) deals as well as on the value for money analysis and on the section of the optimum investment options. The price of risk associated with PPP schemes is complex, dynamic and continuous throughout the concession agreement. Risk allocation needs to be re-evaluated to ensure the optimum outcome of the PPP contract. Design/methodology/approach This paper provides a coherent theoretical framework for dealing with scenarios of potential gain and loss from retaining or transferring risks. Findings The outcome indicates that using the proposed framework will provide innovative ways of deriving risk prices in PPP projects using several risk determinants strategies. Practical implications In costing risks, analysts have to take into consideration the balance between the cost of risk transfer and the cost of losses if risk is retained. Originality/value This paper contributes to the PPP literature and practice by proposing a framework which is consistent with a risk allocation approach in PPP projects, where the key proposition is that risk pricing can overload project debt leading to loss of value.
The influence of risks on the outturn cost of ICT infrastructure network projects
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/CI-05-2020-0079/full/html, 2021-11) Almarri, Khalid; Boussabaine, Halim; Al Nauimi, Hamad
Purpose The internet of things (IoT) is becoming an increasingly inescapable part of society. IoT paradigm cannot function without the networking infrastructure. High-speed data networks are essential to enable the IoT future. Thus, the purpose of this study is on the identification of risks that influence the development, installation and operation of information and communication technology (ICT) infrastructure network project cost outcomes. So far, there has been little attention has been paid to risks problems in these types of IoT enabling projects. Design/methodology/approach This research follows a quantitative analysis approach. Data for this study were collected by a survey from 209 professionals. Multiple regression analysis was used to model the relationship between risks and outturn cost of infrastructure needed to enable the operation of IoT technologies. Findings The main risk factors that were identified were planning and development, people and management, operations, technology and hardware. Research limitations/implications This research has expanded the existing literature by documenting and clustering ICT infrastructure network project risks into themes, and has developed a scale (risk statements) for measuring such risks. Further, the research has advanced the understanding by identifying the most likely risks that will contribute to the overrun of these projects. Originality/value This research establishes a reliable regression method for the assessment of the risks that influence the development, installation and operation of ICT infrastructure network projects outturn cost. No other research has measured or studied the risks in this type of project.
The value for money factors and their interrelationships for smart city public–private partnerships projects
(Emerald Publishing Limited https://www.emerald.com/insight/content/doi/10.1108/CI-01-2022-0020/full/html , 2022-05) Almarri, Khalid
Purpose The amount of expenditure required to scale up smart infrastructure projects is often enormous. Public–private partnership (PPP) is one of the proposed and viable solutions for addressing the financial issues of smart infrastructure projects. However, the most important criterion in choosing PPP over other procurement methods is that the project under the PPP method should deliver the best value for money (VFM) while also including defined economic and social objectives, rather than relying exclusively on efficiency factors. While PPP provides a variety of advantages for developing infrastructure, significant challenges may arise as a result of smart infrastructure initiatives. Diverse PPP approaches have been used to build smart infrastructure around the world, with varying degrees of success. The purpose of this study is to identify the VFM factors that are suitable for smart infrastructure projects and to examine the impact of their interrelationships. Design/methodology/approach The methodology for this study consisted of three stages: identifying VFM factors in PPP for smart cities based on an extensive literature review, analyzing data from a sample of 90 PPP practitioners using a Likert scale questionnaire and estimating interrelationships among VFM factors using structural equation modeling (SEM). Findings After performing a SEM analysis on the gathered data, the best fitted measurement model consisted of 11 VFM factors acting as indicators of three latent variables for smart infrastructure projects (clear output specification for measuring performance, efficient dispute resolutions, optimized risk allocation and business models, improved and integrated community services, economic sustainability, appropriate capital structure and collaterals, smart asset management, diffusion of smart technologies, technical innovation, Ince) and three clusters of their interrelations (economic sustainability, integration drive, optimization and smart technology). Practical implications This research has resulted in a useful and readily applicable list of factors and clusters of value for money criteria for the implementation of PPP in smart infrastructure projects, assisting public sector management by providing a measure of pre-conditions that can be used as an assessment tool when determining whether a PPP should be used instead of conventional methods. Originality/value In addition to the theoretical and methodological contributions, this study produced a usable and readily adaptable list and clusters of value for money factors for the implementation of PPP in smart infrastructure projects.

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