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Del Solar, P, Del Río, M, Villoria, P and Nadal, A (2016) Analysis of Recurrent Defects in the Execution of Ceramic-Coatings Cladding in Building Construction. Journal of Construction Engineering and Management, 142(04).

Du, J, El-Gafy, M and Zhao, D (2016) Optimization of Change Order Management Process with Object-Oriented Discrete Event Simulation: Case Study. Journal of Construction Engineering and Management, 142(04).

Jordan Srour, F, Kiomjian, D and Srour, I M (2016) Learning Curves in Construction: A Critical Review and New Model. Journal of Construction Engineering and Management, 142(04).

Kim, C, Kim, T, Lee, U, Cho, H and Kang, K (2016) Advanced Steel Beam Assembly Approach for Improving Safety of Structural Steel Workers. Journal of Construction Engineering and Management, 142(04).

Larsson, J, Lu, W, Krantz, J and Olofsson, T (2016) Discrete Event Simulation Analysis of Product and Process Platforms: A Bridge Construction Case Study. Journal of Construction Engineering and Management, 142(04).

Lucko, G and Kaminsky, J A (2016) Construction Engineering Conference and Workshop 2014: Setting an Industry–Academic Collaborative Research Agenda. Journal of Construction Engineering and Management, 142(04).

Mirzadeh, I and Birgisson, B (2016) Evaluation of Highway Projects under Government Support Mechanisms Based on an Option-Pricing Framework. Journal of Construction Engineering and Management, 142(04).

  • Type: Journal Article
  • Keywords: Cost and schedule; Option pricing; Price adjustment clauses; Public-private partnership road and highways;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001079
  • Abstract:
    Different features included in public-private partnership (PPP) highway projects such as limited liability of the leveraged firm and government support mechanisms [e.g., price adjustment clauses (PACs)] result in asymmetric project value payoff functions that cannot be properly assessed by traditional methods such as discounted cash flow (DCF) analysis. To overcome this issue, an option-pricing framework is developed that enables financial assessment of different types of road projects in the presence of different government support mechanisms. However, this paper focuses on evaluation of highway projects under the presence of PACs. By providing a framework for calculating the value of government support mechanisms and long-term material and energy contracts, this model can help road agencies and contractors with choosing effective hedging strategies.

Shen, X and Marks, E (2016) Near-Miss Information Visualization Tool in BIM for Construction Safety. Journal of Construction Engineering and Management, 142(04).

Szentes, H and Eriksson, P E (2016) Paradoxical Organizational Tensions between Control and Flexibility When Managing Large Infrastructure Projects. Journal of Construction Engineering and Management, 142(04).

Wang, T, Tang, W, Qi, D, Shen, W and Huang, M (2016) Enhancing Design Management by Partnering in Delivery of International EPC Projects: Evidence from Chinese Construction Companies. Journal of Construction Engineering and Management, 142(04).

Xiong, W, Zhang, X and Chen, H (2016) Early-Termination Compensation in Public–Private Partnership Projects. Journal of Construction Engineering and Management, 142(04).

Zhang, L and El-Gohary, N M (2016) Discovering Stakeholder Values for Axiology-Based Value Analysis of Building Projects. Journal of Construction Engineering and Management, 142(04).