Građevinar, Vol. 78 No. 05., 2026.
Review article
https://doi.org/10.14256/JCE.4395.2025
Framework for management of risks caused by information asymmetry in construction projects
Ivona Ivić Jazvec
Anita Cerić
Abstract
The occurrence of information asymmetry between clients and contractors is often a source of risk in construction projects. In order to develop a framework for managing these risks, a comprehensive study described in this paper was conducted. The methods employed included content analysis of existing literature and interviews among professionals with significant experience in the execution phase of construction projects. The research identified 20 key risks that arise before and after the signing of a contract between the client and the contractor. It also identified the key consequences of these risks and 15 key strategies for mitigating the risks in question. Based on the obtained results, a framework for managing these risks was developed, linking the identified risks, their consequences, and corresponding mitigation measures. This framework enables a structured approach to risk management across different phases of construction projects.
Keywords
principal-agent theory; information asymmetry; risk identification; risk mitigation measures
Hrčak ID:
349946
URI
Publication date:
23.6.2026.
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