Contracts capture an agreement between two parties to exchange a resource in the future (ex-ante), however the future is not certain. Only after the event has happened, might the two parties compare the resources they have received to what they expected (ex-post). Entering into a contract with unknowns gives rise to incomplete contracts theory, the focus of which includes the study of human behavior. Relational contracting is currently being studied as a method of reducing the transaction costs and incompleteness of contracts. Using case studies, this research aimed to reach a conclusion regarding why certain contractual projects run over budget. Overruns are often related to a variation agreement that is incomplete and open to interpretation. Understanding what the issues are and how to mitigate contractual risks was thus a key focus of this research. The research examined two industries - construction and IT. From the case studies, 16 interviews were conducted and 12 contracts reviewed. The least concern for all the parties was disputes, as the parties find solutions to address issues not considered when drafting contracts. Industry specific experience and knowledge is needed to mitigate some unknown contractual risks, however. Relational contracting was also very evident in resolving issues outside of a contract. Further studies into ancillary contracts will reveal more insight into behavioural and relational contracting. / Dissertation(MBA)--Gordon Institute of Business Science, University of Pretoria,2018. / Gordon Institute of Business Science (GIBS) / MBA / Unrestricted

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The objective of this thesis is to explore BIM, IPD and their implementation into a building project contract. The Integrated Delivery Processes is comprised of a collaborative team of Designers, Constructors, and Owners working side by side to create a successful project. BIM has been introduced as a technology into the industry, as a tool that these parties can use for better understanding the project. Through case studies of IPD projects using BIM are observed, it was determined that although BIM was used, one problem faced is the lack of BIM standards included initially in a contract for in an IPD project. There are templates available by the AIA, AGC, and USACE, but they are not all standalone documents. A guideline for the parities to discuss will be introduced as conversation piece that would help segue into what might be included in the contract documents.

<p dir="ltr">Blockchain technology, once the backbone of Bitcoin, has burgeoned into a powerhouse of potential, signaling a revolutionary shift across various sectors, including finance, supply chains, and digital identity. This paradigm shift, which replaces trust in centralized entities with a decentralized ledger of transparency, is rapidly gaining traction among global entities. Despite the promise, blockchain's smart contract evolution has also introduced significant risks, as demonstrated by notorious breaches like the DAO hack. This research offers a dual-focused inquiry into the technological sophistication and social implications of blockchain, particularly smart contracts, assessing both their promise and their perils. It meticulously examines their design, potential vulnerabilities, and recounts sobering lessons from historical breaches.</p><p dir="ltr">To address these concerns, the study presents advanced strategies for vulnerability detection and proactive remedies, recognizing the critical need for security in our digitally convergent economy. In Chapter 3, a novel methodology is employed that uses a comprehensive dataset against advanced detection tools, aiming to address and mitigate vulnerabilities. Chapter 4 provides empirical evidence of the methodology's efficacy, underpinning a critical discussion with real-world applicability and challenges.</p><p dir="ltr">Ultimately, this paper acts as a clarion call for vigilant and innovative strides in blockchain security, emphasizing the technology's vast capabilities against the need for solidified trust. It invites the global research community to join a collaborative effort in addressing the open challenges and fostering advancements to ensure the safe expansion of blockchain technology.</p>

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