Management strategies towards risk handling at project initiation and implementation of complex projects

Authors

  • Deepak Bajaj University of Technology Sydney (Australia)

Keywords:

Risk handling, complex projects, procurement

Abstract

With the trend in procurement systems from the traditional competitive tender to negotiated tender with a consortium or joint venture company, there is a growing need for the management of risks to be handled with greater care and depth. There are two levels of risk handling in these comp/ex projects, one between consortia partners and the second between the consortium and the client. There is growing need to link the risk management plan to the negotiation of contract to create a lasting partnership between the project participants. Contracts negotiated in isolation to the risk management study results, if at all conducted, fail to allocate the risks to the parties most capable or willing to take those risks and manage them. Contractors have to adapt to the innovative, long-term type contract. This paper discusses the management strategies of contractors who are major stakeholders in such ventures using a case study model.

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Author Biography

Deepak Bajaj, University of Technology Sydney (Australia)

Programa de Gestión de la Construcción Facultad de Diseño Arquitectónico y Arquitectura University of Technology Sydney, Australia

Construction Management Program Faculty of Design Architecture and Building University of Technology Svdney, Australia

Published

2002-12-31

How to Cite

Bajaj, D. (2002). Management strategies towards risk handling at project initiation and implementation of complex projects. Revista Ingeniería De Construcción, 17(3), 124–131. Retrieved from https://horizonteenfermeria.uc.cl/index.php/ric/article/view/17149

Issue

Section

Original Research