Effect of bond administration on construction project delivery

Factors	Cost	Time	Quality	Cost saving	Time saving	Client's satisfaction
Aibinu and Jagboro (2002)	√	√	√	–	–	–
Ajibade and Odeyinka (2006)	√	√	√	–	–	–
Augustine and Mangvwat (2001)	√	√	√	–	–	–
Doloi et al. (2010)	√	√	√	√	–	–
Elinwa and Joshua (2001)	√	√	√	–	–	–
Koushki et al. (2005)	√	√	–	–	–	–
Love et al. (1998)	√	√	√	–	–	√
Seeley and Murray (2001)	√	–	–	–	–	–
Ogunsemi and Jagboro (2006)	√	√	√	–	–	–
Oyewobi (2010)	√	√	√	–	–	–
Ramus et al. 2006	√	√	√	–	–	–
Wardani et al. (2006)	√	√	√	–	–	–

[i] Source: Author's compilation.

Tab. 2

Relationship between bond indices and project delivery indices.

Bond type	Bond indices	Test statistics	Contract/initial cost of project (ICP)	Final cost of project (FCP)	Project cost overrun (PCO)	Initial duration of project (IDP)	Final duration of project (FDP)	Project time overrun (PDO)
Bid bond	Cost/amount of bond (CABb)	Pearson correlation	0.915^**	0.914^**	0.914^**	0.258	0.418^**	0.422^**
	Cost/amount of bond (CABb)	Sig. (two-tailed)	0.000	0.000	0.000	0.108	0.007	0.007
	Cost of securing bond (CSBb)	Pearson correlation	0.915^**	0.914^**	0.914^**	0.258	0.418^**	0.422^**
	Cost of securing bond (CSBb)	Sig. (two-tailed)	0.000	0.000	0.000	0.108	0.007	0.007
	No. of days to secure bond (NDb)	Pearson correlation	−0.382^*	−0.402^*	−0.113	−0.055	−0.090	−0.091
	No. of days to secure bond (NDb)	Sig. (two-tailed)	0.015	0.010	0.741	0.735	0.579	0.575
Performance bond	Cost/amount of bond (CABp)	Pearson correlation	1.000^**	0.998^**	−0.350	0.382^*	0.607^**	0.608^**
	Cost/amount of bond (CABp)	Sig. (two-tailed)	0.000	0.000	0.291	0.015	0.000	0.000
	Cost of securing bond (CSBp)	Pearson correlation	0.973^**	0.969^**	−0.491	0.422^**	0.693^**	0.702^**
	Cost of securing bond (CSBp)	Sig. (two-tailed)	0.000	0.000	0.125	0.007	0.000	0.000
	No. of days to secure bond (NDp)	Pearson correlation	−0.345^*	−0.367^*	−0.400	−0.156	−0.113	−0.059
	No. of days to secure bond (NDp)	Sig. (two-tailed)	0.029	0.020	0.223	0.338	0.487	0.718
Advance payment bond	Cost/amount of bond (CABa)	Pearson correlation	0.922^**	0.919^**	−0.363	0.323^*	0.551^**	0.582^**
	Cost/amount of bond (CABa)	Sig. (two-tailed)	0.000	0.000	0.273	0.048	0.000	0.000
	Cost of securing bond (CSBa)	Pearson correlation	0.879^**	0.880^**	−0.069	0.286	0.522^**	0.569^**
	Cost of securing bond (CSBa)	Sig. (two-tailed)	0.000	0.000	0.839	0.082	0.001	0.000
	No. of days to secure bond (NDa)	Pearson correlation	−0.246	−0.271	−0.085	0.035	0.092	0.113
	No. of days to secure bond (NDa)	Sig. (two-tailed)	0.137	0.100	0.804	0.833	0.583	0.499
Retention bond	Cost/amount of bond (CABr)	Pearson correlation	0.916^**	0.915^**	0.560	0.377^*	0.729^**	0.782^**
	Cost/amount of bond (CABr)	Sig. (two-tailed)	0.000	0.000	0.073	0.017	0.000	0.000
	Cost of securing bond (CSBr)	Pearson correlation	0.692^**	0.690^**	0.560	0.269	0.489^**	0.514^**
	Cost of securing bond (CSBr)	Sig. (two-tailed)	0.000	0.000	0.073	0.094	0.001	0.001
	No. of days to secure bond (NDr)	Pearson correlation	−0.376^*	−0.396^*	−0.085	−0.140	−0.122	−0.081
	No. of days to secure bond (NDr)	Sig. (two-tailed)	0.017	0.011	0.804	0.387	0.453	0.619
Average (all bonds)	Cost/amount of bond (CABav)	Pearson correlation	0.921^**	0.920^**	−0.317	0.356^*	0.546^**	0.538^**
	Cost/amount of bond (CABav)	Sig. (two-tailed)	0.000	0.000	0.342	0.024	0.000	0.000
	Cost of securing bond (CSBav)	Pearson correlation	0.782^**	0.783^**	−0.058	0.277	0.415^**	0.406^**
	Cost of securing bond (CSBav)	Sig. (two-tailed)	0.000	0.000	0.865	0.083	0.008	0.009
	No. of days to secure bond (NDav)	Pearson correlation	−0.372^*	−0.392^*	−0.199	−0.125	−0.113	−0.079
	No. of days to secure bond (NDav)	Sig. (two-tailed)	0.018	0.012	0.558	0.443	0.486	0.628