System Dynamic Theoretical Framework for Construction Management: A Case of Baltic States

Sirovs Toms ()
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Sirovs Toms: Riga Technical University, Riga, Latvia

Baltic Journal of Real Estate Economics and Construction Management, 2022, vol. 10, issue 1, 113-128

Abstract: As a result of the rapid development of the construction industry, in recent years, research has increasingly used system dynamics (SD) modelling to determine the positive and negative causal feedback in various management processes. Given SD diverse approach to the management of construction companies and projects, it would be necessary to develop a framework for a system dynamics model (SDM) incorporating the main processes of the Baltic States by identifying and providing a systematic understanding of their distribution. Using literature analysis, this study provides the results of 79 selected scientific literature sources from 1991 to 2020. The obtained information is structured according to the annual volume of publications, country of affiliation, the most successful authors and the most popular scientific journals on the topic of the SD. With the assistance of bibliometric analysis and co-occurrence of keywords, system dynamics management processes in construction companies were structured, choosing the following separate elements: (1) project planning, (2) project management, (3) risk management, (4) project performance, (5) project productivity, (6) sustainability. Using a systematic approach, according to the framework of the model, the characteristics of each management process were classified and identified, dividing them into subgroups. The results of the analysis show that the overview of some SD components or processes is mostly provided, which emphasises its aspects and usability in company management, thus indicating the need to identify the framework of the process module. The introduction of the SD process framework in the company would gradually create a competitive advantage in market conditions.

Keywords: Company management processes; system dynamic; system dynamic models; system dynamic model framework (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:bjrecm:v:10:y:2022:i:1:p:113-128:n:2

DOI: 10.2478/bjreecm-2022-0008

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