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Decision making process model for housing developers in Malaysia

Zainal, Rozlin (2015) Decision making process model for housing developers in Malaysia. PhD thesis, Universiti Teknologi Malaysia.

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Abstract

Housing development involves myriads of interrelated processes which include series of decision making functions. Decision making is a multi-level process that influences the success of a proposed housing project. A housing project may fail or suffer some of serious setback if the decision making function is flawed or has been made on an ad hoc basis or based on unreliable, imperfect or hazy information. Decisions have to be made empirically using scientific methods and tools based on accurate and reliable data and information in today’s business environment. The main aim of this study is to develop a process model for investment decision making in housing development at the strategic phase of the project that is, initiation and feasibility stages in Malaysia. The objectives of this study are three pronged – one, to identify the decision making practiced among Malaysian housing developers, two to identify the methods and tools used by them to make decisions and three to determine the types of information required for making decisions. This research involved the development of theoretical model by synthesising the models developed by a number of prominent authors and researchers on the subject of decision making. It also uses the Delphi method to collect and analyse the appropriate data and information. For a start of the study, 50 numbers of developers were selected as samples. But only 34 responded to the second stage of the information gathering process. At the final stage of the study only 12 developers or participants were left for the final process of the study. The data was analysed using the descriptive statistical techniques. This study affirms that Malaysian developers tend to make their investment decisions based on simple interpolation of historical data and using simple statistical or mathematical techniques in deciding the investment. This study suggested that the Malaysian housing developers skipped several important decision making functions. These shortcomings were mainly due to time and financial constraints and the lack of statistical or mathematical expertise among the professionals and managers in the organisations. The findings allowed a critical review of the theoretical model which followed by the development of a revised process model of decision making for housing development at strategic phase i.e. at the initial and feasibility stages.

Item Type: Thesis (PhD)
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD9000-9999 Special industries and trades > HD9715-9717.5 Construction industry
Depositing User: En. Sharul Ahmad
Date Deposited: 25 Apr 2016 04:07
Last Modified: 25 Apr 2016 04:07
URI: http://eprints.uthm.edu.my/id/eprint/7836
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