Application of Research and Development in Sri Lankan Construction Industry

Abstract

Research and development (R&D) is the process by which a company works to obtain new knowledge that it might use to create new technology, products, services, or systems that it will either use or sell. The construction industry one of the highest investment industry. Since the cost is very high for the R& D process, the investors are reluctant to allocate funds for R&D. Most of the construction companies depend only on the feasibility studies which is related to the particular investment Therefore, the study tries to identify the importance of applying the R & D for the sustainability of the construction industry in Sri Lanka. In the construction industry comprise number of stake holders they are highly concerned on the price, quality and time.. This study has been done by using the quantitative research approach and data collection was done by distributing a quetionneire. The expert opinions have been obtained from the engineers, architects, quantity surveyors and the surveyors. Data analysis was done by using the Relative Index Analysis and some narrative analysis was done to evaluate the expert opinions. According to the given opinions of the professional in construction industry, it was found that the importance of applying the R & D to the construction industry to reduce the price & the time and increase the quality of the projects. It was recommended to apply the R & D to the each and every project for the long term sustainability of the construction in Sri Lanka.