Comparative Analysis on Effectiveness of Lean Practices Adopted by Developers in Real Estate Projects Located in And Around Ranchi

Abstract

Lean management is in its take off in real estate sector. Majority of the real estate developments experience cost and time overruns for reasons which are many times beyond the control of stakeholders. Organizations have increasingly shown interest towards the ideas of lean management. The research aims to discuss the perceptions of utilizing lean thinking in real estate sector. The most important reason is that real estate development is far more complex than the manufacturing and thus the technical innovations are required to be more developed to be significantly implemented. The primary objective of the research was to identify the different lean practices adopted by the developers and measure its effectiveness. The secondary objective was to conduct a comparative analysis of the lean practices of different developers. The data was collected using non participant observation method. The Lean practices adopted by the developers were rated with the help of a checklist. Two different checklists were used, one to identify the lean practices adopted by the developers and the second one to measure the effectiveness of the lean techniques based on TIMWOOD framework. Relative Importance Index (RII) technique was used to analyze the data, and the lean techniques are ranked based on their adoption and effectiveness. The hypotheses were tested using Single Factor ANOVA test. The objectives are explored in detail in this report, giving a description of the adoption of lean practices and its effectiveness by developers in and around RANCHI. The findings from the research, the plausible and adaptable recommendations, scope of future research and limitations concludes the report.