RISK FOR THE BOUWTEAM: Developing an empirical case-based model for risks, their allocation and control strategies when Bouwteams are used as Project Delivery Method

The construction industry has been, throughout time, heavily hindered by cost overruns and delays in the delivery of projects. This picture has only been magnified by the increased size, complexity, and urgent demand for their delivery. Responding to this circumstance has taken different paths. One of these has been updating and improving how...

Early Warning Signs in Risk Management: Improve Accuracy of Cost Contingency by Implementing Early Warning signs in Risk Management to prevent Cost Overruns

Despite the severity and high frequency of cost overruns in construction projects, it is considered a rule rather than an exception. This phenomenon occurs when the initially estimated budget does not suffice the actual costs needed to realise the project. Uncertainty and bias challenge the ability to make cost estimates. Incorrect estimates of...

A comparison of risk analysis approaches: Performance assessment of cost and time estimating on a real project

Risk management is undoubtedly a precious component of the overall project management field. It assists in identifying, assessing and mitigating the uncertainties that are present in a project. These uncertainties affect important measures of a project, of which cost and schedule are the most prominent, and consequently put project success under...