Construction contracts and risk allocation

Risk is a major element in the construction industry and actually it is one of the main elements that can significantly affects the final cost of any project.

The risk inherent in the construction process has grown substantially over the past 50 years due to a myriad of factors. Despite this, the process of allocating risk has not changed in the same proportion.

Risk allocation always occurs in any situation where more than one party (owner, contractor, consultant, etc.) is responsible for the execution of a project.

Making sure that every risk is recognized and managed is good practice in any project. This activity is an important step in that this allocation can significantly influence the behaviour of the project participants and hence impact both project performance and final cost.

Follow the bellow link to read the rest of the paper:

Construction contracts and risk allocation



Teaching is a passion Research is the means to facilitate the passion

Posted in Construction Management, Risk Management

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

We know how to do it!
Passing the PMI/PMP exams, that's the easy part..... scoring proficient in all five process groups, that is quite a challenge!
Follow It's all about Project Management…. on
Follow me on Twitter

Enter your email address to follow this blog and receive notifications of new posts by email.

OPEC Oil Price (click on image below)
%d bloggers like this: