Cheung, S-O (1997) Risk allocation: an essential tool for construction project management. Journal of Construction Procurement, 3(1), pp. 16-27. ISSN 1358-9180
Abstract
Construction project management involves the planning, organizing, directing, and controlling of company resources for the completion of a project development. Project success is usually measured by the achievement of the time, cost, quality and maximizing resource utilization objectives. The achievement of these objectives can also be measured by the incidences of claims and disputes and their resolution. Dispute prevention is then one of the major tasks in construction project management. Equitable risk allocation has been identified as one of the strategies that would reduce the incidences of claims and disputes. This paper discusses the current unified risk allocation movement in Australia. This paper also reports a study that seeks to compare and detect any divergence between the risk allocation pattern as elicited through interviews with senior personnel in the construction industry and that as interpreted from a standard form of contract commonly used in the State of New South Wales, Australia.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | dispute, perception, project management, risk allocation, standard-form contract |
| Index terms: | New South Wales, strategy, movement, interview, personnel, project management, construction industry, prevention, resolution, project development, risk allocation, construction project management, standard form of contract, Australia, dispute, project success, resource utilization |
| Subjects: | health behaviours and lifestyles, contractual arrangements, site logistics, Geography, financial risk, dispute resolution, data collection methods, project delivery, project management theory and practice, management, industry analysis, conflict resolution |
| Topics: | Site Management, Human Resources, Stakeholder Management, Research Practice, Cost Management, Business Strategy, Legal Issues, Procurement, Geographical Context, Project Management |
| Descriptive scope: | 4 PCTE |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here