Risk Management Models in Different Forms of Contract and Collaboration

Published: 18 May 2007

Due to their project-oriented nature, construction activities are usually characterised by many and varying uncertainties that can be conceived of as both risks and opportunities.

Being able to manage risks throughout the construction process is not only a natural and central element preventing unwanted consequences, but also decisive for achieving a good final result with secure economy. It should also be natural for different risks to be divided and managed among the project’s different actors on the basis of who has the best qualifications for dealing with the current risk. Instead it often happens that the efforts are directed at avoiding risks as far as possible and often at somebody else’s expense.

The project aims at creating both improved profitability and a better final product for both customers and contractors by facilitating and improving, within the framework of the chosen contract form, the management of a project’s uncertainties, that is, both risks and opportunities. The project also aims at facilitating the choice of contract form, taking uncertainty aspects into consideration.

Kontaktperson: Ekaterina Osipova
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