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Chiu, H N and Tsai, D M (2002) An efficient search procedure for the resource-constrained multi-project scheduling problem with discounted cash flows. Construction Management and Economics, 20(01), 55-66.

Drew, D S, Tang, S L Y and Lo, H P (2002) Developing a tendering strategy in two-envelope fee tendering based on technical score-fee variability. Construction Management and Economics, 20(01), 67-81.

Idrus, A B and Newman, J B (2002) Construciton related factors influencing the choice of concrete floor systems. Construction Management and Economics, 20(01), 13-9.

Loosemore, M and Chau, D W (2002) Racial discrimination towards Asian operatives in the Australian construction industry. Construction Management and Economics, 20(01), 91-102.

Radosaviljevic, M and Horner, R M W (2002) The evidence of complex variability in construction labour productivity. Construction Management and Economics, 20(01), 3-12.

Rahman, M M and Kumaraswamy, M M (2002) Joint risk management through transactionally efficient relational contracting. Construction Management and Economics, 20(01), 45-54.

  • Type: Journal Article
  • Keywords: co-operative teamwork; joint risk management; project delivery; relational contracting; transaction cost economics
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446190110089682
  • Abstract:

    The appropriate contracting method and the contract documents for any construction project depend on the nature of the project, but an appropriate contracting method coupled with clear and equitable contract documents do not by themselves ensure project success where people work together in the face of uncertainty and complexity with diverse interests and conflicting agendas. The attitudes of the contracting parties and the co-operative relationships among the project participants are important for successful project delivery. These are examined in the light of transaction cost economics and relational contracting (RC) principles. It is found that RC may well be a useful route towards reduced transaction costs, while also fostering co-operative relationships and better teamwork that in turn facilitate joint risk management (JRM). The usefulness of the latter is reinforced by relevant observations from a recent Hong Kong-based survey, followed by a case study in Mainland China. A basic model is conceptualized for improved project delivery via JRM. This is also seen to be reinforceable by further transactional efficiencies that can be achieved through other RC-based approaches, such as partnering or alliancing.

Skitmore, M R (2002) Raftery curve construction for tender price forecasts. Construction Management and Economics, 20(01), 83-9.

Sterner, E (2002) 'Green procurement' of buildings: a study of Swedish clients' considerations. Construction Management and Economics, 20(01), 21-30.

Walker, D H T and Shen, Y J (2002) Project understanding, planning, flexibility of management action and construction time performance: two Australian case studies. Construction Management and Economics, 20(01), 31-44.