In search for contract flexibility in a dynamic environment: A theoretical framework

H. C. Demirel, L. Volker, M. Hertogh, W. L. Leendertse

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

Abstract

Construction systems have been subject to significant changes in recent years, resulting from developments in demands, requirements, regulations, financial possibilities, and technological innovations. These changes affect both projects and contracting in the construction sector. Contracts typically suggest a certain level of stability in a construction environment that is actually highly dynamic. Flexibility in construction projects is becoming an increasingly important tool to deal with unpredictable circumstances. The questions arise: how to deal with changing circumstances in this dynamic environment, and how much flexibility is required? Can flexibility in contracts and contracting be achieved? Answering these questions requires rethinking the approach towards long term dynamics in contracting. The purpose is to develop a theoretical framework for contract flexibility in a dynamic environment.

Original languageEnglish
Title of host publicationLife-Cycle of Engineering Systems
Subtitle of host publicationEmphasis on Sustainable Civil Infrastructure - 5th International Symposium on Life-Cycle Engineering, IALCCE 2016
EditorsJaap Bakker, Dan M. Frangopol, Klaas van Breugel
PublisherCRC Press/Balkema
Pages1476-1483
Number of pages8
ISBN (Print)9781138028470
Publication statusPublished - 1 Jan 2017
Externally publishedYes
Event5th International Symposium on Life-Cycle Engineering 2016: Life-Cycle of Engineering Systems: Emphasis on Sustainable Civil Infrastructure - Delft, Netherlands
Duration: 16 Oct 201619 Oct 2016
Conference number: 5
http://www.ialcce2016.org/

Conference

Conference5th International Symposium on Life-Cycle Engineering 2016
Abbreviated titleIALCCE 2016
CountryNetherlands
CityDelft
Period16/10/1619/10/16
Internet address

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