Paper Title:
Risk Assessment and Transaction Cost Incorporated Budgeting for Construction Joint Ventures
  Abstract

Proper budgeting and cost control are essential efforts for a successful project. The task has been conventionally supported by sophisticated project cost estimation from a production perspective. However, from a transaction cost perspective, the alliance risks with inter-organizational partners in joint venture (JV) projects should always be considered for budgeting. Aiming to assess the risks of a JV project, this paper proposes a transaction cost incorporated budgeting model with multi-criteria utility analysis. A case study is presented to demonstrate the applications of the proposed model which would help project managers to identify a proper risk contingency for practical project budgeting in construction JVs. The rationale of estimating the alliance risks with different partners is also enhanced by the proposed model.

  Info
Periodical
Advanced Materials Research (Volumes 255-260)
Edited by
Jingying Zhao
Pages
3878-3882
DOI
10.4028/www.scientific.net/AMR.255-260.3878
Citation
M. R. Yan, "Risk Assessment and Transaction Cost Incorporated Budgeting for Construction Joint Ventures", Advanced Materials Research, Vols. 255-260, pp. 3878-3882, 2011
Online since
May 2011
Authors
Export
Price
$32.00
Share

In order to see related information, you need to Login.

In order to see related information, you need to Login.

Authors: Precious Omosede Evbuomwan, De Ming Yu
Abstract:The construction industry has experienced a great deal of development over the years by both developed and developing countries. Tunnel...
3953
Authors: Reihaneh Amel Sadeghi, Mehdi Seifbarghy
Chapter 4: Surface, Subsurface, and Interface Phenomena
Abstract:IT/IS represents a substantial financial investment for many organizations. Making IT project portfolio decision is difficult, because long...
411
Authors: Hooman Mihanzadeh, Yulizar Widiatama, Marzieh Geramian Nik, Hamed Gholami, Zahra Akbardoost Laskoukalayeh
Chapter 15: Product Design and Industrial Engineering
Abstract:This paper proposes an effective model to integrate shareholders’ requirements with regard to Bank’s investment categories in an effort to...
1959