Comparison of international federation of consulting engineers and general specification for public works contracts from risk management perspective

Download

index.pdf

Date

2005

Author

Usta, Ergun

Metadata

Show full item record

Item Usage Stats

309
views

114
downloads

Contractors have to construct the projects efficiently in accordance with the contract provisions when they accept a contract. All construction projects involve risk and there is no possibility to eliminate all the risks associated with a specific project. Management of risk requires identification and analysis of risk factors. After this risk assessment step, proper response strategies have to be developed so that an optimum risk-reward structure is ensured. Contracts are the grounds where risk allocation schemes between parties are settled and risk-reward mechanisms are defined. Since contractors are usually unable to influence the contract conditions and clauses, they should understand which risks they are retaining under contract conditions. Thus, succesful management of risk requires understanding of contract clauses and identification of secondary risk factors created due to poorly defined contract clauses. The aim of this thesis is to investigate standard conditions of contract, namely FIDIC and GSPW, which are the most widely utilised contracts by the Turkish contractors, from the risk management point of view. For this purpose an interview form is prepared and interviews are conducted using this structured form. Implications of the contract clauses for the risk management strategy of contractors are discussed based on interview findings. The basic philosophy of FIDIC and GSPW are investigated so that necessary suggestions for the contractors can be made considering the risk allocation schemes defined in these documents.

Subject Keywords

General Engineering.

URI

http://etd.lib.metu.edu.tr/upload/12606443/index.pdf
https://hdl.handle.net/11511/15340

Collections

Graduate School of Natural and Applied Sciences, Thesis

Suggestions

OpenMETU
Core

Mapping Uncertainty for Risk and Opportunity Assessment in Projects Qazi, Abroon; Dikmen Toker, İrem; Birgönül, Mustafa Talat (Informa UK Limited, 2019-01-01) Risk management is deemed as a critical process toward achieving the objectives of any project. A number of tools and techniques have been developed to help project managers reduce the risk involved in complex projects as risk is generally perceived as a negative event. However, uncertainty, which may lead to risk events may well result in opportunities. With the main aim of managing both risk and opportunity within an interdependent setting of interacting project uncertainties, we present a new thinking, c...
Determination of contingency for international construction project during bidding stage Ergin, Abdullah Arif; Sönmez, Rifat; Department of Civil Engineering (2005) Determination of contingency for international projects plays an important role for inclusion of risks taken by the contractor on the bid amount. Although determination of contingency is an important stage of bid preparation for international projects, the methods that are being used by Turkish contractors for quantification of contingency are very limited. In this thesis the factors affecting the contingency decisions of Turkish contractors for international projects will be investigated. The significance ...
Meta-Modeling of Complexity-Uncertainty-Performance Triad in Construction Projects Dikmen Toker, İrem; Erol, Huseyin; Birgönül, Mustafa Talat (Informa UK Limited, 2020-07-01) Although conceptualized in various ways within the project management literature, complexity is usually identified as one of the drivers of uncertainty, which may result in deviations from the expected project performance in the construction industry. Effective strategies to manage risk and complexity can only be formulated by understanding the complexity-uncertainty-performance triad in construction projects and modeling the non-linear interactions between these factors. In this study, a meta-modeling appr...
Improving sub-contractor selection process in construction projects: Web-based sub-contractor evaluation system (WEBSES) Arslan, Gokhan; Kivrak, Serkan; Birgönül, Mustafa Talat; Dikmen Toker, İrem (Elsevier BV, 2008-05-01) One of the most important phases in the construction industry (CI) is the bidding process. During the bidding process, selecting the most appropriate sub-contractors (SCs) for the relevant sub-works is highly critical for the overall project performance. In order to select the most appropriate SCs for the project and prepare the most realistic and accurate bid proposal, general contractors (GCs) have to know all financial, technical and general information about these SCs. Within this context, GCs should co...
Benefit-cost analysis for retrofitting of selected residental buildings in İstanbul Erdurmuş, Salih Buğra; Erant, Engin; Department of Civil Engineering (2005) During the evaluation of the seismic retrofitting option for risk reduction/mitigation measures to be applied over buildings, Benefit Cost Analysis is an often-used method. During this study of Benefit Cost Analysis, the condition that the earthquake can happen just after or sometime after retrofitting will be taken into consideration rather than some approaches that focus on the benefits and costs regarding the annual probability of the occurrence for possible earthquakes. The analysis will use conditional...

Citation Formats

E. Usta, “Comparison of international federation of consulting engineers and general specification for public works contracts from risk management perspective,” M.S. - Master of Science, Middle East Technical University, 2005.