3 Review(s)

This volume provides an understanding of the risk-management ""process,"" and an outline of the considerations to implement one. No particular type of contract isolates participants from risks. The author presents an evaluation of risks involved in various contract formats.The significance of project phases, as well as the links between contingencies and budgets, schedule and schedule allowance for each project phase, the need to plan for risk early in the project life cycle, as well as continuous updating of the risk management plan is emphasized.