Question: Identify risks associated with contracts and the ways contracts are used to reduce risk. Identify key contracts typical in your business Develop strategies to mitigate

  • Identify risks associated with contracts and the ways contracts are used to reduce risk.
  • Identify key contracts typical in your business
  • Develop strategies to mitigate legal risk

Instructions

  • Identify at least 3 different contracts used in construction industry.
  • Identify two current issues relating to construction business that arise from contracts.
  • Complete the Risk Severity matrix.
  • Complete the Risk Response Plan. This should respond to all issues raised above and contain a detailed plan for monitoring the relationships in construction business and where appropriate a plan for influencing and responding to these changes.
  • You may wish to provide a summary of or link to recent new stories or articles showing legal issues applying to construction industry.

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