Management of Business Risk Hedging in Construction Contracts from the Perspective of Public Investors
Loading...
Date
2020-02-28
Authors
ORCID
Advisor
Referee
Mark
Journal Title
Journal ISSN
Volume Title
Publisher
University North
Altmetrics
Abstract
Risk management of construction projects presented in the article focuses on the management of business risk from the perspective of public investors in public works contracts in the Czech Republic. Based on the data analysis and a comparative study of specific attributes in contracts for works, the result of the research has been a portfolio of specific instruments and their recommended parameters for effective business risk management. Qualitative analysis was conducted using a questionnaire survey and structured interviews with public sector representatives to share their views on the current practice of protecting public procurement with regard to mitigate business risk. Types, functions and recommended parameters of hedging instruments has been proposed. Effective forms of hedging are mainly liability insurance for damage to things, property and health, contractual penalties, retention money and bank guarantees. Results of the research were compared with foreign practice and international contractual standards.
Description
Citation
TEHNIČKI GLASNIK . 2020, vol. 14, issue 2, p. 168-173.
https://hrcak.srce.hr/index.php?show=toc&id_broj=19031&lang=en
https://hrcak.srce.hr/index.php?show=toc&id_broj=19031&lang=en
Document type
Peer-reviewed
Document version
Published version
Date of access to the full text
Language of document
en