Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project

Industrialised Building System (IBS) is known as a construction system that consists of a combination of components manufactured either on-site or off-site then positioned and assembled into structures. Among the benefits of IBS construction includes labour cost reduction, support desirable enviro...

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Main Authors:	Siti Nur Atikah Abd Rashid, Natasha Khalil, Haryati Mohd Isa
Format:	Article
Language:	English
Published:	Penerbit Universiti Kebangsaan Malaysia 2019
Online Access:	http://journalarticle.ukm.my/13681/ http://journalarticle.ukm.my/13681/1/376-1421-1-PB.pdf

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author	Siti Nur Atikah Abd Rashid, Natasha Khalil, Haryati Mohd Isa,
author_facet	Siti Nur Atikah Abd Rashid, Natasha Khalil, Haryati Mohd Isa,
author_sort	Siti Nur Atikah Abd Rashid,
building	UKM Institutional Repository
collection	Online Access
description	Industrialised Building System (IBS) is known as a construction system that consists of a combination of components manufactured either on-site or off-site then positioned and assembled into structures. Among the benefits of IBS construction includes labour cost reduction, support desirable environment; maximize efficient use of resources and waste minimisation towards sustainable construction. However, the Malaysian construction industry still has a low take-up rate on IBS construction. The benefits of IBS are more reliable to be presented in a tangible (monetary) value and intangible (nonmonetary) basis rather than descriptive benefits. Hence, to promote the project's viability via IBS, Cost-Benefit Analysis (CBA) can be used to identify the soft issue or non-direct cost and elicits more transparency in IBS projects. This paper presents the conceptual review of the fundamental theory of CBA on the measurement of cost and benefits that can be converted as a weighing impact for an IBS project. An initial conceptual model known as CBA-IBS model is proposed as an approach that a decision maker can use to find the balance between the amount of effort invested in the initial cost of IBS construction and the realised revenues. This study concluded that CBA is able to foster the viability of IBS in more comprehensive criteria of monetary and non-monetary benefits.
first_indexed	2025-11-15T00:16:43Z
format	Article
id	oai:generic.eprints.org:13681
institution	Universiti Kebangasaan Malaysia
institution_category	Local University
language	English
last_indexed	2025-11-15T00:16:43Z
publishDate	2019
publisher	Penerbit Universiti Kebangsaan Malaysia
recordtype	eprints
repository_type	Digital Repository
spelling	oai:generic.eprints.org:136812019-11-22T21:37:44Z http://journalarticle.ukm.my/13681/ Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project Siti Nur Atikah Abd Rashid, Natasha Khalil, Haryati Mohd Isa, Industrialised Building System (IBS) is known as a construction system that consists of a combination of components manufactured either on-site or off-site then positioned and assembled into structures. Among the benefits of IBS construction includes labour cost reduction, support desirable environment; maximize efficient use of resources and waste minimisation towards sustainable construction. However, the Malaysian construction industry still has a low take-up rate on IBS construction. The benefits of IBS are more reliable to be presented in a tangible (monetary) value and intangible (nonmonetary) basis rather than descriptive benefits. Hence, to promote the project's viability via IBS, Cost-Benefit Analysis (CBA) can be used to identify the soft issue or non-direct cost and elicits more transparency in IBS projects. This paper presents the conceptual review of the fundamental theory of CBA on the measurement of cost and benefits that can be converted as a weighing impact for an IBS project. An initial conceptual model known as CBA-IBS model is proposed as an approach that a decision maker can use to find the balance between the amount of effort invested in the initial cost of IBS construction and the realised revenues. This study concluded that CBA is able to foster the viability of IBS in more comprehensive criteria of monetary and non-monetary benefits. Penerbit Universiti Kebangsaan Malaysia 2019 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/13681/1/376-1421-1-PB.pdf Siti Nur Atikah Abd Rashid, and Natasha Khalil, and Haryati Mohd Isa, (2019) Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project. Journal of Building Performance, 10 (2). pp. 85-92. ISSN 2180-2106 http://spaj.ukm.my/jsb/index.php/jbp/issue/view/Special%20Issue
spellingShingle	Siti Nur Atikah Abd Rashid, Natasha Khalil, Haryati Mohd Isa, Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project
title	Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project
title_full	Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project
title_fullStr	Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project
title_full_unstemmed	Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project
title_short	Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project
title_sort	conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (ibs) project
url	http://journalarticle.ukm.my/13681/ http://journalarticle.ukm.my/13681/ http://journalarticle.ukm.my/13681/1/376-1421-1-PB.pdf

Conceptual model of cost-benefit analysis for monetary and non-monetary items in industrialised building system (IBS) project

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