It is important to manage the multifaceted risks associated with international construction projects, in particular in developing countries, not only to secure work but also to make profit. This research seeks to identify and evaluate these risks and their effective mitigation measures and to...

Much of the construction industry improvement agenda has been focused on achieving integration of the design and construction processes. However, the current approaches do not create an organizational framework to deal with the full integration of the supply chains for component based...

There has recently been considerable interest in construction research in paradigms developed for the manufacturing sector. Using lean thinking and agile production as examples of innovative organizational and business process design, this paper explores their commonalities and differences. In...

This paper uses real option methodology to compare the cost of a long-term contract with a price cap to that of spot purchases in construction material procurement. In construction, material procurements are usually short-term, project-based and subject to high price volatility. These...

Unbalanced bidding models have largely ignored the risk aspect of item pricing. Many researchers have acknowledged that there are considerable risks associated with unbalancing a bid but little has been done to describe these risks, let alone model them. A new framework is proposed by which all...

The revenue risk is of great importance to ensure the success of a real toll public-private partnership (PPP) transportation project. Past research has proposed a revenue guarantee put option as an alternative way to quantify and potentially manage this risk. A practical, or commercial,...

Every year the construction industry accounts for a disproportionate injury rate when compared to the all-industry average. In recent years, incident rates have declined as a result of improvements in safety management. While there is a great deal of knowledge regarding the safety management...

Until the present, the supervision engineer's liability risks in China have mostly been analysed by means of a qualitative approach by which it is difficult to identify the key liability risks of the Chinese supervision profession. Two questionnaire surveys were conducted to find out the...

The construction industry is a major user of formal project risk management practices, yet risk is often dealt with inadequately, which is a contributory factor to poor performance. Conceptual developments propose a holistic view of risk incorporating threats and opportunities and the management...

Cost estimation is an important task in construction projects. Since various risk-factors affect the construction costs, the actual costs generally deviate from the estimated costs in a favourable or an adverse direction. Therefore, not only estimation of the costs but also an analysis of the...