Question: During a project risk assessment, a construction professional determined that a supplier for a critical long lead item has financial issues and is on the
During a project risk assessment, a construction professional determined that a supplier for a critical long lead item has financial issues and is on the verge of bankruptcy. The project is running on a tight schedule and budget. What should the construction professional do about this potential risk? Accept the risk impact and allocate contingency reserve. Avoid the risk by sourcing another supplier. Transfer the risk by purchasing insurance Reassess the supplier's risk of bankruptcy
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