... Reichelstein, 199 2). Risk sharing and incentive contracts 3 39 cost of the risk, giving them a positive expected profit, they will not take on the risk. In this sense they are subcontractors, competing ... formally invested in developing and maintaining a PRMC. Such resources include personnel in termsof both numbers and expertise, the time allocated to risk management, and theprovision of supporting ... might be based on the willingness ofparties to take on a risk (Ward et al., 199 1). However, willingness to bear risk will only result in conscientious management of project risks to the extent that...