A Systematic Approach to Evaluating the Risk of Contractual Disputesby Joseph E. Manzi, Kellogg Corp, Littleton, CO, USA,
Document Type: Proceeding Paper
Abstract: Construction contract disputes along with A/E malpractice actions have raised much concern in the industry. Considerable literature has been written along the lines of claims avoidance and dispute elimination. A first step in this process is a full and candid assessment of the multiple risks confronting all parties to the construction process. While the assessment is complex, its implementation can be systematic and tailored to each particular business organization. First, risks must be identified. Second, a methodology as to how the risks are to be addressed must be established. In general, risks are avoided, transferred, insured or retained. Risks are experienced from the initial design process through the construction and completion of the project.
Subject Headings: Risk management | Dispute resolution | Contracts | Project management | Systems management
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