Towards an approach for measuring the risk-bearing capacity of construction contracts

The purpose of this research is to define a novel concept, termed risk-bearing capacity, and develop its quantitative measure as a decision aiding tool to help the project investor decide what financial protection to take. Drawing on the economic concept of quasi rent, the new approach provides a di...

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Bibliographic Details
Published in2011 IEEE International Technology Management Conference pp. 501 - 509
Main Author Chen-Yu Chang
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.06.2011
Subjects
Contracts
Economics
Electric shock
Face
Instruments
Investments
Procurement
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ISBN9781612849515
1612849512
DOI10.1109/ITMC.2011.5996019

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Summary:The purpose of this research is to define a novel concept, termed risk-bearing capacity, and develop its quantitative measure as a decision aiding tool to help the project investor decide what financial protection to take. Drawing on the economic concept of quasi rent, the new approach provides a direct measurement of the maximum risk exposure a contractual arrangement can withstand and holds the potential to evolve into a framework enabling the project investor to integrate the choice of financial protection in a coherent way.
ISBN:9781612849515
1612849512
DOI:10.1109/ITMC.2011.5996019