京都大学 / 0048 / 新制・課程博士 / 博士(工学) / 甲第20350号 / 工博第4287号 / 新制||工||1664(附属図書館) / 京都大学大学院工学研究科都市社会工学専攻 / (主査)教授 小林 潔司, 教授 大津 宏康, 准教授 松島 格也 / 学位規則第4条第1項該当 / Doctor of Philosophy (Engineering) / Kyoto University / DFAM

The construction contract is a document which governs the business relationship of Contractor and Employer for the duration of a construction project. However, the selection of the contract type for the project tends to be performed too shallowly. The present thesis aims to analyse how the contract type is chosen among the three paradigmatic contracts considered here: lump-sum contracts, target-cost contracts and cost-plus contracts. The basis of the study is a case study performed on Project X, a large mine construction project in Western Europe. The relevant literature to the subject was reviewed, mainly the principal-agent theory, literature on risk allocation and on contract selection. After identifying several factors which may influence the contract selection in the literature and in a preliminary interview, a survey was conducted to assess their relative influence in general and in particular for the Project X. The survey was responded by a small sample of highly qualified and experienced managers. and was complemented with in-depth interviews with the majority of them. Some research on the project and on contract documents of the NEC standard contract was also performed in order to provide a context of the characteristics of Project X. The findings of the three sources made it possible to confirm the influence on the selection of the contract type of many of the factors proposed. It was possible to shortlist a small number of factors which influenced the most the selection of the contract type for Project X. These were the preferred risk allocation by the parties, the ability to adapt the contract to scope changes, the knowledge of each contract type by the contracting parties, the improvement of the project delivery by the contract type and the aim to enhance cooperation between the parties. Factors not present in previous research were also discovered, such as the different financial costs of the contract types and the requirement of financial information by the funders of the parties. The very different opinions of the respondents to the survey and interviews regarding the selection of the contract type confirm that the parties should consider in more detail that complex process, because by now the parties are not really sure why they are choosing a certain contract type. Further research should be performed in the future to analyse the factors which influenced the contract type selection in other projects. The projects could also be analysed during their whole duration. Other contract types or variants of the three contract types studied in this thesis could also be added to the analysis.

O presente trabalho visa analisar em que medida a alteração das circunstâncias negociais que levem à situação de onerosidade excessiva prevista pelo Código Civil produz efeitos sobre a utilidade que as partes derivam dos contratos de engineering, considerados estes como contratos que têm por objeto o desenvolvimento de projetos industriais e de infraestrutura de grande porte. Situa esses contratos em seu contexto histórico e social, descrevendo seus principais elementos de distinção, especialmente a complexidade e risco das operações econômicas que lhes é subjacente e os qualifica como contratos socialmente típicos, sujeitos ao regime dos contratos de empreitada. A tese discute a adequação do tratamento jurisprudencial que vem sendo dado à onerosidade excessiva e descreve os esquemas negociais geralmente usados em tais contratos para fins de alocação de riscos. Finalmente, a tese discute a aplicação de modelos da Análise Econômica do Direito, como a Teoria dos Contratos Incompletos, como subsídio para a valoração de aplicabilidade das normas sobre onerosidade excessiva aos contratos de engineering e análise dos efeitos de sua aplicação sobre esses contratos. / The aim of this work is to analyze to what extent changed circumstances that are contractually relevant, so as to characterize the legal figure of excessive onerosity [a situation of material burden for complying with a given obligation on one of the contracting parties] pursuant to the Brazilian Civil Code, bring about effects on the payoffs the contracting parties derive from so-called engineering agreements, understood as agreements for the development of large-scale industrial and infrastructure projects. The work traces back the historical and social context of such agreements and describes their main distinguishing features, especially the complexity and risk elements of their underlying economic transactions. The work also describes such agreements as socially codified agreements, subject to the discipline of a legally codified figure called empreitada [or contractor agreement]. The work also discusses how court precedents deal with the legal figure of excessive onerosity and describes the deal structures normally used in such agreements for the purposes of risk allocation. Finally, the work discusses the application of Law & Economics models, such as the Theory of Incomplete Contracts, as a tool for evaluating the applicability of rules governing the legal figure of excessive onerosity to engineering agreements and analyzing their respective effects.

O presente trabalho visa analisar em que medida a alteração das circunstâncias negociais que levem à situação de onerosidade excessiva prevista pelo Código Civil produz efeitos sobre a utilidade que as partes derivam dos contratos de engineering, considerados estes como contratos que têm por objeto o desenvolvimento de projetos industriais e de infraestrutura de grande porte. Situa esses contratos em seu contexto histórico e social, descrevendo seus principais elementos de distinção, especialmente a complexidade e risco das operações econômicas que lhes é subjacente e os qualifica como contratos socialmente típicos, sujeitos ao regime dos contratos de empreitada. A tese discute a adequação do tratamento jurisprudencial que vem sendo dado à onerosidade excessiva e descreve os esquemas negociais geralmente usados em tais contratos para fins de alocação de riscos. Finalmente, a tese discute a aplicação de modelos da Análise Econômica do Direito, como a Teoria dos Contratos Incompletos, como subsídio para a valoração de aplicabilidade das normas sobre onerosidade excessiva aos contratos de engineering e análise dos efeitos de sua aplicação sobre esses contratos. / The aim of this work is to analyze to what extent changed circumstances that are contractually relevant, so as to characterize the legal figure of excessive onerosity [a situation of material burden for complying with a given obligation on one of the contracting parties] pursuant to the Brazilian Civil Code, bring about effects on the payoffs the contracting parties derive from so-called engineering agreements, understood as agreements for the development of large-scale industrial and infrastructure projects. The work traces back the historical and social context of such agreements and describes their main distinguishing features, especially the complexity and risk elements of their underlying economic transactions. The work also describes such agreements as socially codified agreements, subject to the discipline of a legally codified figure called empreitada [or contractor agreement]. The work also discusses how court precedents deal with the legal figure of excessive onerosity and describes the deal structures normally used in such agreements for the purposes of risk allocation. Finally, the work discusses the application of Law & Economics models, such as the Theory of Incomplete Contracts, as a tool for evaluating the applicability of rules governing the legal figure of excessive onerosity to engineering agreements and analyzing their respective effects.

This article focuses on the concrete study of two forms of public infrastructure construction in our country: Public Private Partnerships and public works contracts, analyzing their characteristics, implications, differences and how they are regulated. Also, it realizes a critical analysis of the specific case of the contract of concession of the Chinchero’s airport and the signing of the respective addendum, concluding that the addendum meant the denaturing of the PPP and suggesting some proposals about this case. / El presente artículo se centra en el estudio concreto de dos formas de construcción de infraestructura pública en el país: las Asociaciones Público Privadas y los contratos de obra pública, analizando sus características, implicancias, diferencias y la forma como se encuentran regulados. Asimismo, se realiza un análisis crítico del caso concreto del contrato de concesión del aeropuerto de Chinchero y la firma de la adenda respectiva, concluyendo que la adenda significó la desnaturalización de las APP y planteando algunas propuestas en torno a este caso.

The objective of the thesis is to analyze numerous project financing possibilities in the Czech Republic. The thesis introduces the framework of project finance, together with its definition and fundamental characteristics. Furthermore it aims to identify the issues of risk analysis and risk management. The final section of the thesis provides an overview of the current global project finance trends and identifies the situation in the Czech Republic. Additionally, the thesis includes a case study of the first Czech energy finance project - ECKG Kladno.

Current traditional delivery models used in the Australian construction industry are seen as highly bespoke and adversarial where there is an inappropriate contractual risk allocation, lack of collaboration and poor project management. With the pipeline of investment compounded with the impact that global macroeconomic trends and events (e.g., COVID-19, climate change, political instability, social change, digital revolution) have on supply chains and risk profiles; there are calls from practitioners and researchers for fundamental change to contractual delivery arrangements to support the implementation of collaboration. The standard form of contract known as the New Engineering Contract (NEC) is seen as a logical step in the right direction; however, there is a lack of in-depth investigation to understand and support its implementation, particularly in Australia. This thesis aims to understand whether NEC could be utilised to a greater extent in the Australian construction industry by using institutional theory as a frame of reference. This paper reports on an exploratory interview study with a range of professionals in the construction industry in Australia to understand the current problems with traditional procurement, NEC’s perceived role and contribution to developing contractual practice, the barriers to change and the roles that various actors play in driving the development of NEC. The study confirms that the industry has a range of economic, knowledge-related and cultural factors that motivate the need for change. The effect of these practices has become part of the institution of the construction industry, ‘the way we do things. This has resulted in inefficient and poor performance outcomes. The general perception and experience amongst industry participants is seen as positive to NEC, where many acknowledge clear advantages but also various issues to its implementation. Key institutional actors are perceived to act as barriers to further adoption of NEC are the government, clients/public sector organisations and the legal profession. Other main barriers identified include the limited number of trained professionals and the culture and mindset in the industry. Greater adoption of NEC requires the active role of government, clients, and industry and professional bodies. / I den australiensiska byggindustrin används idag skräddarsydda kontrakt som skapar motsättningar mellan parterna genom obalanserad riskallokering och är förknippade med dåligt samarbete och bristande projektledning. Med tanke på den stora volymen planerade investeringar och den påverkan som globala makroekonomiska trender och händelser (t.ex. covid-19, klimatförändringar, politisk instabilitet, social förändring, digital omställning) har på leveranskedjor och riskprofiler, är det idag många praktiker och forskare som pekar på behovet av nya kontrakt som stödjer samverkan. Standardkontraktet New Engineering Contract (NEC) ses då som ett steg i rätt riktning. Syftet med detta examensarbete är att förstå de nuvarande problemen i den australiensiska byggindustrin och undersöka om NEC skulle kunna användas i större utsträckning. Studien baseras på intervjuer med yrkesverksamma inom byggbranschen i Australien. Med hjälp av institutionell teori diskuteras NEC:s upplevda roll och bidrag till att utveckla avtalspraxis, hindren för förändring samt de roller som olika aktörer spelar i att driva utvecklingen av NEC. Studien visar att branschen präglas av en rad ekonomiska, kunskapsrelaterade och kulturella faktorer som motiverar behovet av förändring. De har blivit en del av byggindustrins institutionaliserade praktiker, "så här gör vi", och har resulterat i ineffektivitet och kvalitetsbrister. De intervjuade är generellt positiva till NEC, men ser både tydliga fördelar och vissa problem med det. Centrala institutionella aktörer som idag fungerar som hinder för fortsatt implementering är statliga myndigheter, andra offentliga byggherrar och den juridiska professionen. Andra barriärer som identifierats är bristen på yrkesverksamma som är utbildade i NEC samt branschens kultur och tänkesätt. En ökad användning av NEC förutsätter en aktiv roll från myndigheter, kunder, branschorgan och professionsföreningar.

Made available in DSpace on 2016-04-26T20:48:47Z (GMT). No. of bitstreams: 1 Viviane G Franco.pdf: 943470 bytes, checksum: 45f773155d93a597c9e3e78b00e5a861 (MD5) Previous issue date: 2007-05-16 / Risk allocation is one of the main sources of efficiency gains in public-private partnerships projects (PPP). Resting on this evidence, this dissertation has as a main goal to assess and analyse the risk allocation in PPP projects in Brazil. To reach this purpose it is used the case study of the MG-050 Highway PPP project contract. The contract analysis seeks to identify the risk allocation strategy intended by the Minas Gerais government and to make a comparision between this strategy and the international practices and principles. This analisys takes in count too the brazilian federal PPP Law (Law 11.079/2004) which delineates the brazilian partnerships model. From the case study, it s possible to identify an effort to apply the main risk allocation principles to the contract. However, there are some critical points that could create difficulties to the contract performance / A adequada alocação de riscos é uma das principais fontes de eficiência nos projetos de parcerias público-privadas (PPPs). A partir dessa constatação, esta dissertação tem como principal objetivo avaliar e analisar a alocação de riscos em projetos de PPP no Brasil. Para tanto, é utilizado como estudo de caso o contrato de PPP da Rodovia MG-050, através do qual se busca identificar a estratégia de alocação de riscos pretendida pelo governo mineiro e em que medida essa estratégia se aproxima de práticas e princípios já consagrados pela experiência internacional. A Lei 11.079/2004 (Lei das PPPs), através da qual o modelo brasileiro de parcerias está delineado, também é considerada no estudo de caso. Da análise empreendida, identifica-se um empenho do Poder concedente em transferir riscos ao parceiro privado segundo princípios empregados, principalmente, pela experiência inglesa e australiana. Contudo, observa-se a existência de alguns pontos críticos que poderão exercer impacto na condução do contrato

This thesis attempts to evaluate the Markov Chain Monte Carlo (MCMC) methods Metropolis-Hastings (MH) and No-U-Turn Sampler (NUTS) to estimate systemic risk measures. The subject of analysis is an equity portfolio provided by a Nordic asset management firm, which is modelled using a vine copula. The evaluation considers three different crisis outcomes on a portfolio level, and the results are compared with a Monte Carlo (MC) benchmark. The MCMC samplers attempt to increase sampling efficiency by sampling from these crisis events directly, which is impossible for an MC sampler. The resulting systemic risk measures are evaluated both on the portfolio level as well as marginal level.  The results are divided. In part, the MCMC samplers proved to be efficient in terms of accepted samples, where NUTS outperformed MH. However, due to the practical implementation of the MCMC samplers and the vine copula model, the computational time required outweighed the gains in sampler efficiency - causing the MC sampler to outperform both MCMC samplers in certain settings. For NUTS, there seems to be great potential in the context of estimating systemic risk measures as it explores high-dimensional and multimodal joint distributions efficiently with low autocorrelation. It is concluded that asset management companies can benefit from both using vine copulas to model portfolio risk, as well as using MC or MCMC methods for evaluating systemic risk. However, for the MCMC samplers to be of practical relevance, it is recommended to further investigate efficient implementations of vine copulas in the context of MCMC sampling. / Detta examensarbete utvärderar Markov Chain Monte Carlo (MCMC)-metoderna No-U-Turn Sampler (NUTS) och Metropolis-Hastings (MH) vid uppskattning av systemiska riskmått. För att göra detta används en vine copula för att modellera en portfölj, baserad på empirisk data från ett nordiskt kapitalförvaltningsföretag. Metoderna utvärderas givet tre olika krishändelser och jämförs därefter med ett Monte Carlo (MC) benchmark. MCMC-metoderna försöker öka samplingseffektiviteten genom att simulera direkt från dessa krishändelser, vilket är omöjligt för en klassisk MC-metod. De resulterande systemiska riskmåtten utvärderas både på portföljnivå och på marginalnivå. Resultaten är delade. Dels visade sig MCMC-metoderna vara effektiva när det gäller accepterade samples där NUTS överträffade MH. Dock, med anledning av av den praktiska implementationen av MCMC-metoderna och vine copula modellen var beräkningstiden för hög trots effektiviteten hos metoden - vilket fick MC-metoden att överträffa de andra metoderna i givet dessa särskilda kontexter. När det kommer till att uppskatta systemiska riskmått finns det dock stor potential för NUTS eftersom metoden utforskar högdimensionella och multimodala sannolikhetsfördelningar effektivt med låg autokorrelation. Vi drar även slutsatsen att kapitalförvaltare kan dra nytta av att både använda riskmodeller baserade på vine copulas, samt använda MC- eller MCMC-metoder för att utvärdera systemisk risk. För att MCMC-metoderna ska vara av praktisk relevans rekommenderas det dock att framtida forskning görs där mer effektiva implementeringar av vine copula-baserade modeller görs i samband med MCMC-sampling.