Review of joint venture studies in construction

Abstract

This paper reviewed the definition, scope, and types of joint ventures (JVs) in the construction industry, summarized the research interests and trend on construction joint ventures (CJVs), and provided implications for future research into CJVs. Based on the observations of all CJV related studies, seven major categories of research focus on CJVs have been classified. In general, since the benefits and success criteria of CJVs have been well-documented in the literature, future research could be more valuable and practical when concerned about how to reduce the number of disputes in and even failures of CJVs, which in-turn renders it significantly important for researchers to develop relevant state-of-the-art criteria/framework to aid the assessment of appropriateness of selecting CJV contracting method in project procurement.