The Construction Engineering and Management (CEM) program develops knowledge, tools and methods that can add value to construction projects and organizations with a focus on risk management. In mature industries such as construction successfully managing risk largely determines the success or failure of projects and enterprises. By developing basic risk management skills and participating in leading edge research, students can position themselves to make enormous differences in for-profit, government and non-profit development organizations. Understanding the nature and structure of development risk provides a foundation for modeling, quantifying and mitigating those risks.<br>Construction Engineering and Management faculty apply a variety of research methods to these issues to build and test potential theories with data. For example, statistical models of dependence among construction phases and activities illuminate the effects of project structure on contingencies. Advanced construction materials are used to build and describe the behavior of structural members in laboratories. Controlled experiments with human subjects describe how managers assess and choose risk strategies for comparison with results from computer models based on theories from finance and economics. Surveys of experts and direct observations of construction operations form the basis for new processes and practices.