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Title: Construction contract risk assignment
Authors: Erikson, Carl A.
O'Connor, M. J. (Michael J.), 1945-
Keywords: Construction industry--Specifications
Publisher: Construction Engineering Research Laboratory (U.S.)
Series/Report no.: CERL;TR-P-101
Abstract: Abstract: This report presents the results ·of an investigation to determine the cost effects of varying the assignment of risk between the owner and contractor in firm fixed-price construction contracts. Among the topics included are a working definition of risk, a risk classification upon which a construction process risk model is based, a discussion of techniques for contractually assigning risk, a discussion of the applicability of utility theory for analyzing the assignment of risk in construction, an example which models the cost effects of varying the assignment of risk, and implementation considerations.
Appears in Collections:Technical Report

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