Joint ventures (JVs) are strategic business agreements between two or more firms to create a new entity for a specific pursuit. In a fully integrated JV, the companies involved share all risks, profits, losses, assets, and liabilities.
Wesley A. Smith, Director of Business Development – Design-Build | Black & Veatch
Posts by this Author
Transferring Risk: An Opportunity to Add Value Using Progressive Design-Build Delivery
Projects delivered under construction management at-risk (CMAR) and progressive design-build (PDB) contracts are becoming more common in the US water sector. Each method offers opportunities for an owner to accelerate schedule, collaborate more effectively with a project team, facilitate early consideration of construction issues, and receive insight into project cost. There are many similarities between these two delivery methods, but PDB offers one major differentiator: an opportunity for the owner to transfer additional risk.
Addressing the Wish List
What happens when your project has a fixed budget and an open-ended project scope? Or what if there is a desire to deal with not only a specific need, but also address a “wish list” of additional improvements?