Risk behavior of contractors

a Canadian study

Risk is inherent in the construction industry due to a wide variety of factors. As a result contractors and construction project managers have learned to incorporate risk management into project management. This article discusses some results from a recent investigation looking at risk and risk behavior in the Canadian construction industry and discusses some methods used by contractors to help maintain financial stability. Utility functions were developed to quantitatively predict and measure the behavior of the construction project managers facing risk.
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