Risk Management Perceptions and Trends of U.S. ConstructionSource: Journal of Construction Engineering and Management:;1995:;Volume ( 121 ):;issue: 004Author:Roozbeh Kangari
DOI: 10.1061/(ASCE)0733-9364(1995)121:4(422)Publisher: American Society of Civil Engineers
Abstract: This paper discusses the current attitude of large U.S. construction firms toward risk, and determines how these contractors conduct construction risk management. The paper is based on a survey of the top 100 large U.S. contractors. After discussion of the current views, the results are compared with a risk survey conducted by ASCE. The study shows that in recent years, contractors have been more willing to assume risks that accompany contractual and legal problems in the form of risk sharing with the owner. Risks of this type include change-order negotiations, third-party delays, contract delay resolutions, and indemnification and hold harmless. The survey also found that contractors currently assume the risk associated with actual quantities of work, a notable difference from the findings of the ASCE survey. Finally, the attitude of contractors toward the practice of defensive engineering is determined. This is significant, as no previous survey has addressed or sought to quantify allocation or importance of this task.
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contributor author | Roozbeh Kangari | |
date accessioned | 2017-05-08T22:36:07Z | |
date available | 2017-05-08T22:36:07Z | |
date copyright | December 1995 | |
date issued | 1995 | |
identifier other | %28asce%290733-9364%281995%29121%3A4%28422%29.pdf | |
identifier uri | http://yetl.yabesh.ir/yetl/handle/yetl/83412 | |
description abstract | This paper discusses the current attitude of large U.S. construction firms toward risk, and determines how these contractors conduct construction risk management. The paper is based on a survey of the top 100 large U.S. contractors. After discussion of the current views, the results are compared with a risk survey conducted by ASCE. The study shows that in recent years, contractors have been more willing to assume risks that accompany contractual and legal problems in the form of risk sharing with the owner. Risks of this type include change-order negotiations, third-party delays, contract delay resolutions, and indemnification and hold harmless. The survey also found that contractors currently assume the risk associated with actual quantities of work, a notable difference from the findings of the ASCE survey. Finally, the attitude of contractors toward the practice of defensive engineering is determined. This is significant, as no previous survey has addressed or sought to quantify allocation or importance of this task. | |
publisher | American Society of Civil Engineers | |
title | Risk Management Perceptions and Trends of U.S. Construction | |
type | Journal Paper | |
journal volume | 121 | |
journal issue | 4 | |
journal title | Journal of Construction Engineering and Management | |
identifier doi | 10.1061/(ASCE)0733-9364(1995)121:4(422) | |
tree | Journal of Construction Engineering and Management:;1995:;Volume ( 121 ):;issue: 004 | |
contenttype | Fulltext |