Study On The Effect Of The Arrears Of Project Funds On The Cost Of The Construction Party

The construction industry develops rapidly and gradually becomes the pillar industry of our country.Owing to the imbalance of the supply and demand of the construction market,the problem of arrears of engineering funds has appeared repeatedly.At present,there are more literatures on the problem of project payment arrears from the angle of third party,and few from the angle of construction side.In this paper,the effect of arrears on the construction cost is studied by combining quantitative and qualitative methods from the perspective of the construction side.It provides a theoretical reference for the construction unit to evaluate and judge the impact grade of the arrears of the project,and also provides a new way of thinking for the future research on the problem of arrears of Engineering funds.The contents and conclusions of this paper can be summarized as follows:(1)According to the relevant literature and practice,21 influence variables which resulted in the increase of construction cost were selected.Through the expert evaluation method,the content validity ratio was calculated,and the factors that the difference between the calculated validity ratio and the standard validity ratio was less than zero were removed,identify the remaining 19 variables to prepare a questionnaire and conduct a survey.The questionnaire recovery rate is 87,which shows that the returned questionnaire is effective and can be used for further research.(2)Factor analysis was used to test the reliability of the questionnaire results.In this paper,the Cronbach’s ? coefficient was selected to judge the reliability,and the SPSS22.0 software was used to test the reliability.The results showed that the questionnaire results had strong reliability.On the basis of dimensionality reduction of original variables,the cumulative contribution rate of the variance of the first five factors was found to be 70.1844.These five new factors can be used as the main factors to analyze the influence of the arrears of engineering funds.(3)The new factors obtained from the factor analysis are used as the primary evaluation factors and the original variables as the secondary evaluation factors to construct the evaluation index system.Combined with an engineering example,based on the grey correlation theory,a comprehensive evaluation model is established to evaluate the impact of project payment arrears on the construction cost.(4)The five factors obtained by factor analysis can be used as the main factors influencing the cost of the construction party,so that the construction unit can formulate the measures to deal with the arrears before or at the early stage of the arrears,reducing the cost input in the later stage;By applying the model of project payment default impact evaluation,the construction unit can establish the early warning system and countermeasures for the project payment default,and improve the construction enterprise’s ability to deal with the project payment default.