Semantic risk assessment for ad hoc and amended standard forms of construction contracts

Youssef, A, Osman, H, Georgy, M and Yehia, N 2018, 'Semantic risk assessment for ad hoc and amended standard forms of construction contracts', Journal of Legal Affairs and Dispute Resolution in Engineering and Construction, vol. 10, no. 2, pp. 1-11.


Document type: Journal Article
Collection: Journal Articles

Title Semantic risk assessment for ad hoc and amended standard forms of construction contracts
Author(s) Youssef, A
Osman, H
Georgy, M
Yehia, N
Year 2018
Journal name Journal of Legal Affairs and Dispute Resolution in Engineering and Construction
Volume number 10
Issue number 2
Start page 1
End page 11
Total pages 11
Publisher American Society of Civil Engineers
Abstract In spite of the widespread availability and documented advantages of using standard forms of construction contracts (SFCs), actual practice and recent evidence suggest that owners still rely on ad hoc (bespoke) or heavily amended SFCs. This practice is problematic to contractors who are required to submit tenders within tight time frames and hastily assess the risk allocation of these nonstandard forms of contract. This paper presents a semantic model and quantitative assessment framework to help assess the risk allocation of these contracts and hence allow more informed decisions to be made by contractors prior to tender submission. The model is based on 9 clause families and 41 construction clause components that were determined based on a detailed analysis of 4 major SFCs as well as several bespoke and heavily amended SFCs, in addition to a subsequent verification by domain experts. The analytical hierarchy process (AHP) is further used to assign relative weights to the clause families and components based on collaborative input from 10 construction contract experts. The model was tested on two case studies for a residential construction and hotel retrofit projects. Results show that the contract risk rating (CRR) computed by the model closely correlates to the contingency values allocated by contractors into their tender price.
Subject Building Construction Management and Project Planning
Keyword(s) Construction contracts
Risk assessment
Semantics
Standard contract forms (SCF)
Ad hoc contracts
Analytical hierarchy process (AHP)
DOI - identifier 10.1061/(ASCE)LA.1943-4170.0000253
Copyright notice © 2018 American Society of Civil Engineers
ISSN 1943-4162
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