A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
A construction joint venture is a partnership of contractors who have formed a business alliance for the purpose of undertaking a project. Motivation for such an alliance may be technological complexity, political expediancy, large size, or high risk. An analysis of the risk-sharing characteristics is presented concentrating on principles of diversification for the individual contractors and competitive advantage of the joint venture as a whole. A formulation of risk-sharing rules and basic contractor risk behavioral criteria leads to the development of a methodology for optimal joint-venture share allocation. By means of a three contractor joint-venture example the optimal allocation of shares is demonstrated, as well as a verification of principles of diversification and competitive advantage.
A construction joint venture is a partnership of contractors who have formed a business alliance for the purpose of undertaking a project. Motivation for such an alliance may be technological complexity, political expediancy, large size, or high risk. An analysis of the risk-sharing characteristics is presented concentrating on principles of diversification for the individual contractors and competitive advantage of the joint venture as a whole. A formulation of risk-sharing rules and basic contractor risk behavioral criteria leads to the development of a methodology for optimal joint-venture share allocation. By means of a three contractor joint-venture example the optimal allocation of shares is demonstrated, as well as a verification of principles of diversification and competitive advantage.
Construction Joint Ventures
Ashley, David B. (author)
Journal of the Construction Division ; 106 ; 267-280
2021-01-01
141980-01-01 pages
Article (Journal)
Electronic Resource
Unknown
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