Select the Response strategy that best corresponds to each Risk Item in the Risk Register below created
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Select the Response strategy that best corresponds to each Risk Item in the Risk Register below created during the pre-tender stage: Fill in the type of Response Strategy in the third column
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Risk Item Currency Fluctuation Contractors may have difficulty in meeting target schedule Political Unrest Tenant changes after construction begins Increase in wages Availability of Materials (Supply Chain restriction) Design programme slippages Shortage of power supply Response Add generators Maximize the usage of local materials, while monitoring the contractors management of procurement with emphasis on long lead items Shift the construction commencement date milestone by two month Cut-off date implemented by Client for changes. Contractor to assign dedicated team for tenant changes to minimize impact on Time and Cost Inserting a Force Majeure clause in the Contract Prices are fixed for the duration of the project irrespective of the change in currency rate Add clause that the $ is equal to 18 LE and any change contractor will be compensated for. Introduce incentive provisions Provide contingency budget for changes to minimum wage, and increase in labor cost Response Strategy Risk Item Currency Fluctuation Contractors may have difficulty in meeting target schedule Political Unrest Tenant changes after construction begins Increase in wages Availability of Materials (Supply Chain restriction) Design programme slippages Shortage of power supply Response Add generators Maximize the usage of local materials, while monitoring the contractors management of procurement with emphasis on long lead items Shift the construction commencement date milestone by two month Cut-off date implemented by Client for changes. Contractor to assign dedicated team for tenant changes to minimize impact on Time and Cost Inserting a Force Majeure clause in the Contract Prices are fixed for the duration of the project irrespective of the change in currency rate Add clause that the $ is equal to 18 LE and any change contractor will be compensated for. Introduce incentive provisions Provide contingency budget for changes to minimum wage, and increase in labor cost Response Strategy
Expert Answer:
Answer rating: 100% (QA)
Response strategy 1 Currency fluctuationsTry to minimise the cost of project Additional sourc... View the full answer
Related Book For
Fundamentals of Investing
ISBN: 978-0133075359
12th edition
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
Posted Date:
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