Abstract
Integrated project delivery (IPD) method is associated with numerous benefits, including enhanced project performance, collaboration, and information sharing among project stakeholders. However, the lack of adequate incentive and reward mechanisms is still considered as the main reason for slowing down the adoption of IPD. As such, the goal of this paper is to identify a fair and efficient risk pool distribution among IPD project stakeholders. The adopted methodology included (1) assigning the risks associated with each stakeholder, (2) computing valuations for all possible subset coalitions among IPD project stakeholders that reflect their risk control capabilities as well as their coordination effects, and (3) utilizing cooperative game theory to generate fair and efficient distribution mechanisms given different a priori working and coalitional preferences. As such, a total of 22 risks were identified and quantified to calculate the risk control valuations of all subset coalitions using Monte-Carlo simulations. Afterward, these valuations were utilized to generate fair risk and reward distributions using the Shapley value and Owen value for games with a priori unions. The coalitional stability of the generated results was evaluated using propensity-to-disrupt ratios. Ultimately, the findings of this paper indicate that an IPD-multiparty agreement where all parties are engaged early on in establishing the contract results in the most balanced willingness to cooperate among stakeholders. Finally, the outcome of this paper equips industry practitioners with a distribution mechanism that corresponds to the adopted IPD relational configuration on one hand and the overall IPD project stability on the other.
Recommended Citation
R. Eissa et al., "Risk-Reward Allocation Among Integrated Project Delivery Method Stakeholders: A Gamified Cooperative Data Simulation Approach," Computing in Civil Engineering 2023: Visualization, Information Modeling, and Simulation - Selected Papers from the ASCE International Conference on Computing in Civil Engineering 2023, pp. 87 - 95, American Society of Civil Engineers, Jan 2024.
The definitive version is available at https://doi.org/10.1061/9780784485231.011
Department(s)
Civil, Architectural and Environmental Engineering
International Standard Book Number (ISBN)
978-078448523-1
Document Type
Article - Conference proceedings
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2024 American Society of Civil Engineers, All rights reserved.
Publication Date
01 Jan 2024
