Large engineering projects (LEPs) are high-stakes games characterized by substantial irreversible commitments, skewed reward structures when they are successful, and high probabilities of failure. Their dynamics also change over time. The journey from initial conception to ramp-up and revenue...

Contracts should be matched to the unique situation of a Major Industrial Plant Project (MIPP). However, in reality, oftentimes contract forms are chosen that do not fit participant's (owners', contractors') competences and risk capabilities. In this paper, MIPP order contract forms are...

We systematically examine which characteristics of a business opportunity - such as the likelihoods of potential gains and losses - affect managers' perception of risk and attractiveness. In an online experiment with a sample of 4,287 managers from smalland medium-sized enterprises in Denmark,...

Purpose: Many Industry 4.0 projects fail because impending sociotechnical risks are managed insufficiently. An indicator-based, sociotechnical risk monitoring can help to overcome this challenge. However, its effectiveness depends significantly on selecting appropriate risk indicators. This...