Project coalitions in healthcare construction projects and the application of real options: an exploratory survey

Maartje van Reedt Dortland, Geert P.M.R. Dewulf, Johannes T. Voordijk

Research output: Contribution to journalArticleAcademicpeer-review

2 Citations (Scopus)

Abstract

OBJECTIVE: Exploring the impact of the type of project coalition on types of flexibility by analyzing considered and exercised flexibilities in separated and integrated project coalitions in the design and construction phase and the operations and maintenance phase of a healthcare construction project. BACKGROUND: Flexibility in healthcare construction projects is increasingly needed in order to deal with growing uncertainties. Until now, little research has been carried out on how and to what extent flexibility is incorporated in different types of project coalitions chosen by healthcare organizations. METHODS: An exploratory survey was conducted among health organizations in both cure and care. Questions were asked on the position of the real estate department within the organization, the type of project coalitions chosen and the rationale behind this choice, and the extent to which flexibility in terms of a real option was considered and to what extent it had been exercised in a project coalition. RESULTS: Integrated project coalitions pay more attention to flexibility in advance in both the process and the product, but exercise them to a lesser extent than separated project coalitions. The economic feasibility of real options is higher in integrated project coalitions. CONCLUSIONS: The study shows that real options thinking is already incorporated in real estate management of healthcare organizations, although more flexibility is considered in advance of the project than is actually realized during and after construction
Original languageEnglish
Pages (from-to)14-36
Number of pages23
JournalHERD (Health environments research and design journal)
Volume7
Issue number1
Publication statusPublished - 2013

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Health Care Coalitions
Organizations
Delivery of Health Care
Uncertainty
Maintenance
Economics
Surveys and Questionnaires
Health
Research

Keywords

  • IR-88893
  • METIS-298853

Cite this

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title = "Project coalitions in healthcare construction projects and the application of real options: an exploratory survey",
abstract = "OBJECTIVE: Exploring the impact of the type of project coalition on types of flexibility by analyzing considered and exercised flexibilities in separated and integrated project coalitions in the design and construction phase and the operations and maintenance phase of a healthcare construction project. BACKGROUND: Flexibility in healthcare construction projects is increasingly needed in order to deal with growing uncertainties. Until now, little research has been carried out on how and to what extent flexibility is incorporated in different types of project coalitions chosen by healthcare organizations. METHODS: An exploratory survey was conducted among health organizations in both cure and care. Questions were asked on the position of the real estate department within the organization, the type of project coalitions chosen and the rationale behind this choice, and the extent to which flexibility in terms of a real option was considered and to what extent it had been exercised in a project coalition. RESULTS: Integrated project coalitions pay more attention to flexibility in advance in both the process and the product, but exercise them to a lesser extent than separated project coalitions. The economic feasibility of real options is higher in integrated project coalitions. CONCLUSIONS: The study shows that real options thinking is already incorporated in real estate management of healthcare organizations, although more flexibility is considered in advance of the project than is actually realized during and after construction",
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Project coalitions in healthcare construction projects and the application of real options: an exploratory survey. / van Reedt Dortland, Maartje; Dewulf, Geert P.M.R.; Voordijk, Johannes T.

In: HERD (Health environments research and design journal), Vol. 7, No. 1, 2013, p. 14-36.

Research output: Contribution to journalArticleAcademicpeer-review

TY - JOUR

T1 - Project coalitions in healthcare construction projects and the application of real options: an exploratory survey

AU - van Reedt Dortland, Maartje

AU - Dewulf, Geert P.M.R.

AU - Voordijk, Johannes T.

PY - 2013

Y1 - 2013

N2 - OBJECTIVE: Exploring the impact of the type of project coalition on types of flexibility by analyzing considered and exercised flexibilities in separated and integrated project coalitions in the design and construction phase and the operations and maintenance phase of a healthcare construction project. BACKGROUND: Flexibility in healthcare construction projects is increasingly needed in order to deal with growing uncertainties. Until now, little research has been carried out on how and to what extent flexibility is incorporated in different types of project coalitions chosen by healthcare organizations. METHODS: An exploratory survey was conducted among health organizations in both cure and care. Questions were asked on the position of the real estate department within the organization, the type of project coalitions chosen and the rationale behind this choice, and the extent to which flexibility in terms of a real option was considered and to what extent it had been exercised in a project coalition. RESULTS: Integrated project coalitions pay more attention to flexibility in advance in both the process and the product, but exercise them to a lesser extent than separated project coalitions. The economic feasibility of real options is higher in integrated project coalitions. CONCLUSIONS: The study shows that real options thinking is already incorporated in real estate management of healthcare organizations, although more flexibility is considered in advance of the project than is actually realized during and after construction

AB - OBJECTIVE: Exploring the impact of the type of project coalition on types of flexibility by analyzing considered and exercised flexibilities in separated and integrated project coalitions in the design and construction phase and the operations and maintenance phase of a healthcare construction project. BACKGROUND: Flexibility in healthcare construction projects is increasingly needed in order to deal with growing uncertainties. Until now, little research has been carried out on how and to what extent flexibility is incorporated in different types of project coalitions chosen by healthcare organizations. METHODS: An exploratory survey was conducted among health organizations in both cure and care. Questions were asked on the position of the real estate department within the organization, the type of project coalitions chosen and the rationale behind this choice, and the extent to which flexibility in terms of a real option was considered and to what extent it had been exercised in a project coalition. RESULTS: Integrated project coalitions pay more attention to flexibility in advance in both the process and the product, but exercise them to a lesser extent than separated project coalitions. The economic feasibility of real options is higher in integrated project coalitions. CONCLUSIONS: The study shows that real options thinking is already incorporated in real estate management of healthcare organizations, although more flexibility is considered in advance of the project than is actually realized during and after construction

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