ARCOM

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Aalto, L, Sirola, P, Kalliomäki-Levanto, T, Lahtinen, M, Ruohomäki, V, Salonen, H and Reijula, K (2019) User-centric work environments in modular healthcare facilities. Engineering, Construction and Architectural Management, 26(06), 1047–62.

Chapman, C and Ward, S (2008) Developing and implementing a balanced incentive and risk sharing contract. Construction Management and Economics, 26(06), 659–69.

Type: Journal Article
Keywords: Contract conditions; risk management
ISBN/ISSN: 0144-6193
URL: https://doi.org/10.1080/01446190802014760
Abstract:
An important aspect of stakeholder management in construction projects is the contractual approach to managing risk and uncertainty. Clients need to choose an appropriate form of contract from available common options, like fixed price, design and build (D&B), and design, build, finance and operate (DBFO). Facilitating appropriate choices is usefully addressed within a balanced incentive and risk sharing (BIARS) contract framework, 'balance' implying incentives that align client and contractor objectives. What this means in operational terms, within the context of a best practice approach to project risk and uncertainty management, is explored and clarified. The work is based on a mix of conventionally funded academic research and consultancy-based research. It was stimulated by the need to explain these ideas to a client using target contracts with unbalanced risk sharing, a common practice. Best practice requires a balanced approach, and the difference is significant. Best practice also involves a number of other relevant features. The key conclusion is that full integration of contract choice decisions and other aspects of a best practice approach to risk and uncertainty management is practical and advantageous, and a reasonable next step in the evolution of best practice.

Chinyio, E and Akintoye, A (2008) Practical approaches for engaging stakeholders: findings from the UK. Construction Management and Economics, 26(06), 591–9.

Daniel, E I and Pasquire, C (2019) Creating social value within the delivery of construction projects: the role of lean approach. Engineering, Construction and Architectural Management, 26(06), 1105–28.

Du, J, Wang, Q and Shi, Q (2019) Description–experience gap under imperfect information. Engineering, Construction and Architectural Management, 26(06), 1151–70.

Fraser, C and Zhu, C (2008) Stakeholder perception of construction site managers' effectiveness. Construction Management and Economics, 26(06), 579–90.

Galbraith, G H, McLean, R C, Gillespie, I, Guo, J S and Kelly, D (1998) Non-isothermal moisture diffusion in porous building materials. Building Research & Information, 26(06), 330–9.

Layzell, J and Ledbetter, S (1998) FMEA applied to cladding systems: reducing the risk of failure. Building Research & Information, 26(06), 351–7.

Li, H, Love, P E D and Ogunlana, S (1998) Genetic algorithm compared to non-linear optimization for labour and equipment assignment. Building Research & Information, 26(06), 322–9.

Li, L, Li, Z, Li, X and Wu, G (2019) A review of global lean construction during the past two decades: analysis and visualization. Engineering, Construction and Architectural Management, 26(06), 1192–216.

Lingard, H, Zhang, R P and Oswald, D (2019) Effect of leadership and communication practices on the safety climate and behaviour of construction workgroups. Engineering, Construction and Architectural Management, 26(06), 886–906.

Mathur, V N, Price, A and Austin, S (2008) Conceptualizing stakeholder engagement in the context of sustainability and its assessment. Construction Management and Economics, 26(06), 601–9.

Moodley, K, Smith, N and Preece, C N (2008) Stakeholder matrix for ethical relationships in the construction industry. Construction Management and Economics, 26(06), 625–32.

Munir, M, Kiviniemi, A and Jones, S W (2019) Business value of integrated BIM-based asset management. Engineering, Construction and Architectural Management, 26(06), 1171–91.

Ngowi, A B (1998) Is construction procurement a key to sustainable development?. Building Research & Information, 26(06), 340–50.

Olander, S and Landin, A (2008) A comparative study of factors affecting the external stakeholder management process. Construction Management and Economics, 26(06), 553–61.

Rowlinson, S and Cheung, Y K F (2008) Stakeholder management through empowerment: modelling project success. Construction Management and Economics, 26(06), 611–23.

Seadon, J and Tookey, J E (2019) Drivers for construction productivity. Engineering, Construction and Architectural Management, 26(06), 945–61.

Shrestha, K, Shrestha, P P and Lidder, M (2019) Life-cycle cost comparison of chip seal and striping: in-house workers versus private contractors. Engineering, Construction and Architectural Management, 26(06), 927–44.

Shrestha, P P, Shrestha, K K and Zeleke, H B (2019) Probability of change orders and the effect on cost and schedule for new public school buildings. Engineering, Construction and Architectural Management, 26(06), 1087–104.

Shurrab, J, Hussain, M and Khan, M (2019) Green and sustainable practices in the construction industry. Engineering, Construction and Architectural Management, 26(06), 1063–86.

Walker, D, Bourne, L M and Shelley, A (2008) Influence, stakeholder mapping and visualization. Construction Management and Economics, 26(06), 645–58.

Ward, S and Chapman, C (2008) Stakeholders and uncertainty management in projects. Construction Management and Economics, 26(06), 563–77.

Zhu, F, Sun, M, Wang, L, Sun, X and Yu, M (2019) Value conflicts between local government and private sector in stock public-private partnership projects. Engineering, Construction and Architectural Management, 26(06), 907–26.

Zohrehvandi, S and Khalilzadeh, M (2019) APRT-FMEA buffer sizing method in scheduling of a wind farm construction project. Engineering, Construction and Architectural Management, 26(06), 1129–50.