An Overview of Risk Allocation and Procurement Decisions (Part 1)
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The aim of this course is to outline the major areas of risk in construction projects, and some of the methods of dealing with these risks when procuring construction works.
After studying this course, you should be able to:-
1. Outline the major areas of risk in construction projects, and examine the methods of dealing with these risks.
2. Explain dealing with risk through the transfer of risk, acceptance of risk, avoidance of risk, insuring against risk, doing nothing about risk and allocating risk through methods of payment.