A QUANTITATIVE METHOD FOR ANALYZING THE ALLOCATION OF RISKS IN TRANSPORTATION CONSTRUCTION
The report presents a conceptual model of risk that was developed to analyze the impact on owner's cost of alternate allocations of risk among owner and contractor in mass transit construction. A model and analysis procedure are developed, based on decision analysis but extending the standard methodology to include: (1) explicit consideration of risk as an incentive to perform, and (2) the interaction between two decision-makers (owner and contractor) trading risk for price.
Massachusetts Institute of TechnologyDepartment of Civil Engineering, 77 Massachusetts Avenue
Cambridge, MA United States 02139
Transportation Systems Center55 Broadway, Kendall Square
Cambridge, MA United States 02142
Urban Mass Transportation AdministrationOffice of Tech Development & Deployment, 400 7th Street, SW
Washington, DC United States 20590
- Levitt, R E
- Ashley, D B
- Logcher, R D
- Dziekan, M W
- Publication Date: 1979-4
- Pagination: 156 p.
- TRT Terms: Analysis; Construction; Construction projects; Contract administration; Contractors; Cost allocation; Costs; Decision theory; Economic impacts; Economic models; Hazards; Incentives; Insurance; Liability; Prices; Probability theory; Public transit; Rapid transit; Risk analysis; Risk assessment; Subways; Surveying; Surveying
- Uncontrolled Terms: Cost analysis
- Old TRIS Terms: Actuarial mathematics; Allocations; Subway construction
- Subject Areas: Administration and Management; Construction; Data and Information Technology; Economics; Finance; Law; Operations and Traffic Management; Public Transportation; Safety and Human Factors;
- Accession Number: 00197460
- Record Type: Publication
- Source Agency: National Technical Information Service
- Report/Paper Numbers: DOT-TSC-UMTA-79-14 Final Rpt.
- Files: NTIS, TRIS, USDOT
- Created Date: Jul 31 1981 12:00AM