Abstract: The Fair and Reasonable Markup (FaRM) is the smallest markup that satisfies the Required Rate of Return (RRR) of the contractor for the particular (or at least the general risk‐class of) project at hand. The model is based ...

Abstract: Construction risk is exposure to possible economic loss arising from involvement in the construction process. A unified‐field‐theory classification of the risk‐adjusted discount rate (RADR) methods demonstrates that modern ...

Abstract: Construction can be viewed as the manufacturing arm of civil engineering, since civil engineers not only provide planning, analysis, and design for new facilities, but are the dominant profession in construction engineering ...