Thinking in terms of budget, scope, and time, which type of contracting arrangement would you prefer to build your retirement home and why? [Evaluate this scenario in terms of risk management as well.] 1. Multiple contractors who each specialize in one area. They are hired independently of each other and only work on their area of expertise. You (or your PM) have a master schedule and budget, and each contractor works with you (or your PM) towards that schedule and budget, but they do not interact with each other on those areas. 2. One general contractor who sub-contracts with specialists. This main contractor controls the master schedule and budget. However, you do not have control over who the main contractor uses to complete the work.