Effective hedging of business risks via protective instruments in public works contracts

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26110%2F19%3APU132074" target="_blank" >RIV/00216305:26110/19:PU132074 - isvavai.cz</a>

Výsledek na webu

<a href="http://www.esd-conference.com/past-conferences" target="_blank" >http://www.esd-conference.com/past-conferences</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Effective hedging of business risks via protective instruments in public works contracts

Popis výsledku v původním jazyce

According to the Act on Public Procurement issued in the Czech Republic in 2016, the contracting authority specifies a set of economic qualification criteria and technical qualification criteria in order to establish human resources, technical resources and the expertise and experience necessary to perform the contract acceptable. For building construction project, meeting all qualification requirements does not yet represent protection of the contracting public authority to the potential business risks connected with the construction contract. At this moment, protective instruments in the contracts for works must be used to ensure the delivery of contract on time, cost and quality. The paper analyses the contracts for public works in the field of retirement homes for the elderly which were built in last six years in the Czech Republic. The aim is to determine the hedging of business risks and the most frequently used protective instruments applied to solve the potential business risks, how efficient they are and whether the frequency of the applied instruments contrasts with other types of construction contracts. A quantitative analysis of the currently used protective instruments in the contracts for public works is performed. The outcomes of the empirical study are compared with previous research of authors in the field of revitalization of school buildings and sewage facilities and equipment. Overall, the research paper identifies what protective instruments are currently employed, at what amounts and whether the instruments fulfil the functions required to protect both investors and contractors during the contract period and to ensure quality of public construction works contracts with the criteria of economy, efficiency and effectiveness.

Název v anglickém jazyce

Effective hedging of business risks via protective instruments in public works contracts

Popis výsledku anglicky

According to the Act on Public Procurement issued in the Czech Republic in 2016, the contracting authority specifies a set of economic qualification criteria and technical qualification criteria in order to establish human resources, technical resources and the expertise and experience necessary to perform the contract acceptable. For building construction project, meeting all qualification requirements does not yet represent protection of the contracting public authority to the potential business risks connected with the construction contract. At this moment, protective instruments in the contracts for works must be used to ensure the delivery of contract on time, cost and quality. The paper analyses the contracts for public works in the field of retirement homes for the elderly which were built in last six years in the Czech Republic. The aim is to determine the hedging of business risks and the most frequently used protective instruments applied to solve the potential business risks, how efficient they are and whether the frequency of the applied instruments contrasts with other types of construction contracts. A quantitative analysis of the currently used protective instruments in the contracts for public works is performed. The outcomes of the empirical study are compared with previous research of authors in the field of revitalization of school buildings and sewage facilities and equipment. Overall, the research paper identifies what protective instruments are currently employed, at what amounts and whether the instruments fulfil the functions required to protect both investors and contractors during the contract period and to ensure quality of public construction works contracts with the criteria of economy, efficiency and effectiveness.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

20101 - Civil engineering

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

37th International Scientific Conference on Economic and Social Development – "Socio Economic Problems of Sustainable Development"

ISBN

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ISSN

1849-7535

e-ISSN

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Počet stran výsledku

10

Strana od-do

710-719

Název nakladatele

Varazdin Development Entrepreneurship Agency

Místo vydání

Varazdin, Chorvatsko

Místo konání akce

Baku, Azerbaijan

Datum konání akce

14. 2. 2019

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000471844300092