Risk Analysis in Contract of Works

This Skill Bit shows that risk analysis identifies potential project risks, assesses their likelihood and impact, and develops plans to mitigate them. This includes risk mitigation, transfer, avoidance, and acceptance. A risk response plan outlines actions to take if specific risks occur. Continuous monitoring and communication are crucial.

Duration approx. 3 Min.

Tier: basics

A part of Fundamentals of a Contract of Works: Key Elements and Terms course.