This report will examine the origins of construction risk, how to identify and classify it, and make recommendations on how to treat it. A series of risk sharing guidelines will be presented which can be applied to the allocation process. The purpose of this report is to show that a rational, systematic approach must be used to deal with risk in construction contracting. One such structured approach used to quantify and assess construction risk is presented in detail. Three of the more controversial contract clauses will be discussed in terms of their risk among the project participants.
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