Construction Project Selection Under Risk: Market Model Approach
Kangari, Roozbeh
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https://hdl.handle.net/2142/69915
Description
Title
Construction Project Selection Under Risk: Market Model Approach
Author(s)
Kangari, Roozbeh
Issue Date
1982
Department of Study
Civil Engineering
Discipline
Civil Engineering
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Engineering, Civil
Abstract
This study develops a construction project selection model under conditions of risk, and provides guidance for its implementation. The model consists of three parts. Part I selects an appropriate objective for the model based on shareholder's expected equity maximization, and examines some alternative objectives. Part II describes risk and return as two major variables of the objective. Risk is classified as economic, industry, company, and project characteristics. This classification allows the model to estimate the construction projects' required rates of return. Part III develops a criterion for decision making. The model allows the contractors to do sensitivity analysis of markup and risk to aid in project selection with and without resource constraints.
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