This paper explains what ‘risk efficiency' means, why it is a key part of best practice project management, and why it may not be delivered by common practice as defined by some guidelines. This paper also explains how risk efficiency can be addressed operationally using comparative cumulative...

An important aspect of stakeholder management in construction projects is the contractual approach to managing risk and uncertainty. Chapman and Ward (2002) develops a balanced incentive and risk sharing (BIARS) contract, drawing on earlier research on management contracts, which lead to...