Restructuring Responsibility and Reward for More Construction Innovationby Irtishad Ahmad, Florida Intl Univ, Miami, United States,
Document Type: Proceeding Paper
Part of: Preparing for Construction in the 21st Century
Abstract: This paper proposes modifications to the contractual systems customary in the U.S. construction industry with the objective of encouraging technology innovation. The relationships among the major participants in a construction contract have been analyzed from two different perspectives: the job-shop type manufacturing industry and the service industry. The author concludes that both designers and constructors must be given assurance of reasonable reward if more innovation is to be achieved and that owners/clients should take more responsibility and risk to foster technology innovation in construction.
Subject Headings: Innovation | Construction industry | Contracts | Manufacturing | Risk management | Economic factors
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