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Akin, F D, Damci, A and Arditi, D (2024) Optimum finance-based scheduling. Journal of Construction Engineering and Management, 150(09).
Assaad, R H, Omran, A, Soliman, N and Assaf, G (2024) Prediction of the lateral pressure of self-consolidating concrete on construction formwork systems using machine-learning algorithms. Journal of Construction Engineering and Management, 150(09).
Assaf, G and Assaad, R H (2024) Analyzing the critical success factors affecting project bundling performance of infrastructure projects. Journal of Construction Engineering and Management, 150(09).
Chammout, B, El-Adaway, I H, Abdul Nabi, M and Assaad, R H (2024) Price escalation in construction projects: Examining national and international contracts. Journal of Construction Engineering and Management, 150(09).
- Type: Journal Article
- Keywords:
- ISBN/ISSN: 0733-9364
- URL: http://doi.org/10.1061/JCEMD4.COENG-13918
- Abstract:
The construction industry has witnessed unprecedented disruptions in the supply chain (SC) over the past four years due to the consecutive impacts of the 2018 steel and aluminum tariffs, the COVID-19 pandemic, and the Russian-Ukrainian war. SC disruptions have been linked to price escalations, the management of which varies across different construction contracts. Thus, there is a timely need to understand the contractual implications of price escalation clauses. This article fulfills this research requirement by following an interdependent research methodology. First, the authors analyzed and compared price escalation provisions under various US-based, international, and UK-based standard design-bid-build contracts. Second, the authors examined legal cases that have arisen due to disputes over price escalation-related matters. Third, based on the contractual and legal analysis, the authors formulated and proposed a set of contractual considerations that can be used to plan and manage the contractual implications arising from triggering price escalation clauses. The findings indicate substantial variability in contractual provisions addressing price escalation. A predominant approach entails specifying a fixed contract price, often with a general exception permitting adjustments related to legislative changes. Certain standard contracts afford flexibility through the incorporation of supplementary clauses or amendments during the contract formation stage to counteract escalation risks. Further, insights from the legal review show that judicial relief from contractual obligations is typically granted solely in instances of unforeseen and severe economic conditions. This research makes a significant academic contribution by advancing the understanding of contractual obligations concerning price escalation, especially in the context of ongoing market disruptions. Ultimately, the findings of this study will impact the construction industry by promoting more balanced contractual practices regarding price escalations in construction projects.
Dorignon, L, Oswald, D, Kempton, L, Boehme, T, Iyer-Raniga, U, Moore, T and Dalton, T (2024) Investigating residential building materials in a circular economy: An Australian perspective. Journal of Construction Engineering and Management, 150(09).
Görsch, C, Seppänen, O, Peltokorpi, A and Lavikka, R (2024) Unlocking productivity: Revealing waste and hidden disturbances impacting mep workers. Journal of Construction Engineering and Management, 150(09).
Gao, M Y, Han, J, Yang, Y, Tiong, R L K, Zhao, C and Han, C (2024) BIM-based and IoT-driven smart tracking for precast construction dynamic scheduling. Journal of Construction Engineering and Management, 150(09).
Jiang, Y, Yang, G, Li, H, Zhang, T and Khudhair, A (2024) Physics-informed knowledge-driven decision-making framework for holistic bridge maintenance. Journal of Construction Engineering and Management, 150(09).
Koo, H J, Kelly, D and Deman, D (2024) Risk assessment of the challenges in the adaptive reuse of historic buildings. Journal of Construction Engineering and Management, 150(09).
Namian, M, Nabil, F R, Al-Mhdawi, M K S, Kermanshachi, S S and Nnaji, C (2024) Postpandemic era: Investigating the impact of COVID-19 on construction workers' situational awareness. Journal of Construction Engineering and Management, 150(09).
Ning, X, Yang, Y, Liu, C and Han, Y (2024) Construction workers' unsafe behavior contagion under government-contractor dual influence. Journal of Construction Engineering and Management, 150(09).
Olugboyega, O (2024) Diverse forms of greed and self-interest that contribute to corruption among construction stakeholders. Journal of Construction Engineering and Management, 150(09).
Ouyang, Y and Luo, X (2024) Effects of physical fatigue on construction workers' visual search patterns during hazard identification. Journal of Construction Engineering and Management, 150(09).
Paneru, S, Suh, S, Seo, W and Rausch, C (2024) Evaluating the decarbonization potential of industrialized construction: A review of the current state, opportunities, and challenges. Journal of Construction Engineering and Management, 150(09).
Sadoughi, A, Kouhirostami, M, Kouhirostamkolaei, M, Qi, B and Costin, A (2024) Autonomous building design for manufacturing and assembly: A systematic review of design application, challenges, and opportunities. Journal of Construction Engineering and Management, 150(09).
Shahedi, F, Etemadfard, H, Omrani, F and Ghalehnovi, M (2024) Cost performance modeling for steel fabrication shops with machine learning algorithms. Journal of Construction Engineering and Management, 150(09).
Shuang, Q, Liu, X, Wang, Z and Xu, X (2024) Automatically categorizing construction accident narratives using the deep-learning model with a class-imbalance treatment technique. Journal of Construction Engineering and Management, 150(09).
Wang, R D, Zayed, T, Eltoukhy, A E E and Wu, H (2024) Integrated planning approach for optimizing tower crane and truck locations in modular integrated construction. Journal of Construction Engineering and Management, 150(09).
Wu, H, Chang, Y and Chen, Y (2024) Transitioning work arrangements in the construction industry: Changes in time-use patterns and individual greenhouse gas emissions. Journal of Construction Engineering and Management, 150(09).
Yang, J, Wu, Y and Li, D (2024) Block planning based on grid's topology for the dismantling of long-span spatial lattice structures. Journal of Construction Engineering and Management, 150(09).
Zhang, Y, Chang, R, Mao, W, Zuo, J, Liu, L and Han, Y (2024) Challenges of automating interior construction progress monitoring. Journal of Construction Engineering and Management, 150(09).
Zhang, Y, Liu, L, Song, Z, Zhao, Y and He, S (2024) Enhancing tunnel boring machine penetration rate predictions through particle swarm optimization and elman neural networks. Journal of Construction Engineering and Management, 150(09).