Risks always exist in construction projects and often cause schedule delay or cost overrun. Risk management is a key issue in project management. The first step of risk management is risk identification. It includes the recognition of potential risk event conditions in the project and the clarification of risk responsibilities. We conducted multiple-case studies using a systematic analytical procedure to identify risks in highway projects in Taiwan, to recognize risk allocation by contract clauses, and to analyze the influence of risk allocation on the contractor’s risk handling strategies. The results show that the owner allocates risks by stipulating specific contract clauses into five kinds of risk allocation conditions. If a risk is more controllable by the contractor, the owner has a greater tendency to allocate the risk to the contractor. Risk allocation determines which kinds of risks the contractor would take and influences the contractor’s risk handling decisions. The analysis furthermore indicat...
[1]
Gary R. Smith,et al.
Small to Medium Contractor Contingency and Assumption of Risk
,
1999
.
[2]
A. Akintoye,et al.
Risk analysis and management in construction
,
1997
.
[3]
Francis T. Hartman,et al.
Risk Allocation in Lump-Sum Contracts — Concept of Latent Dispute
,
1996
.
[4]
Terry M Willams,et al.
Using a risk register to integrate risk management in project definition
,
1994
.
[5]
Jong H. Ock,et al.
Pricing construction risk: fuzzy set application
,
1993
.
[6]
Jamal F. Al‐Bahar,et al.
Systematic Risk Management Approach for Construction Projects
,
1990
.
[7]
I. Vertinsky,et al.
Adjusting risky situations: A theoretical framework and empirical test
,
1989
.
[8]
R. Yin.
Case Study Research: Design and Methods
,
1984
.
[9]
W. Firestone,et al.
Multisite Qualitative Policy Research: Optimizing Description and Generalizability
,
1983
.