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Perceived risk and value. The concept of perceived risk has been conceptualised as corresponding to situations when there are potentially negative outcomes. Later studies distinguished between uncertainty before the outcome and the outcome itself, which points to the timing of the perceived risk. This paper focuses on how perceived risk impacts perceived value, and further, how risk communication can neutralise the unfavourable impact of perceived risk on value in project transactions. Perceived risk during projects. The most crucial risk element is the supplier's performance commitment, which is the responsibility to complete the project successfully in every respect. This risk applies until the project has been completed.
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