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Abstract Construction projects in Yemen, like other developing countries, are executed in complex & dynamic conditions and constantly confronted by various risks, some of which are related to the utilized contracts. The Yemeni contract for construction projects (Ordinary work contract established by Supreme Committee for Tenders and Auctions, 2010), when compared to other standard forms of contracts such as FIDIC (The red book 1999), fails to manage some risks on its clauses, especially those related to contractors. This dissertation presents a quantitative risk analysis methodology using Monte Carlo simulation for contractors cost risks. It starts with identifying twenty-one risk factors that are allocated to the contractor in the FIDIC and then a comparison is conducted between the Yemeni &FIDIC standard forms of contracts risk clauses. A questionnaire was distributed to eighteen Yemeni construction companies, in order to obtain information on the probability of occurrence for the identified risks in construction projects in Yemen and the impact of such risks on contractors{u2019} cost |