Organization

Curtin University

Project Description

AN INVESTIGATION INTO CONSTRUCTION CONTRACTORS� APPROACH TO PRICING RISK

Project Abstract

This review examines the literature on the subject of risk with a particular focus on the techniques that can be employed by construction contractors to identify and price risk. In this review, the traditional procurement process is explained and the reasons why this process results in a competitive tendering environment are highlighted. Contingency and risk are defined and examined and the major risks facing construction contractors are highlighted. The estimating process which consists of preparing a base cost estimate and determining a contingency amount to calculate a final tender price is described. The reasons why the application of an across the board percentage is often used to determine contingency is explained and the importance of intuition and experience is discussed. For the purposes of this report �contractor� is defined as the main contractor or builder that engages subcontractors to complete a construction project

Surveys released for this project:
Questions
Marcus Towner- Honours Research Survey 58
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