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Apr 26, 2012
An Option Pricing Model to Evaluate ADR Investments in AEC Construction Projects under Different Scenarios
Authors: Carol Menassa [email protected] and Feniosky Peña Mora [email protected]Author Affiliations
Publication: Computing in Civil Engineering (2007)
Abstract
A major concern for construction industry participants is the occurrence of claims and change orders which cause significant losses in terms of schedule delays, and cost overruns. The use of Alternative Dispute Resolution Techniques (ADR) has been shown to reduce the impact of these claims on the project. These ADR techniques require capital expenditures that need to be justified in construction projects with budget constraints. This paper investigates the use of real option valuation under competitive entry to evaluate ADR investments and determine the optimal investment timing.
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Published In
Computing in Civil Engineering (2007)
Pages: 566 - 574
Copyright
© 2007 American Society of Civil Engineers.
History
Published online: Apr 26, 2012
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Affiliations
Ph.D. Candidate, Civil and Environmental Engineering, Department & Masters of Science in Financial Engineering Student, College of Business, University of Illinois at Urbana-Champaign, Urbana-Champaign, IL 61801. E-mail: [email protected]
Professor of Construction Management and Information Technology, Civil and Environmental Engineering Department, University of Illinois at Urbana-Champaign, Urbana-Champaign, IL 61801. E-mail: [email protected]
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ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.