Risk Reduction And Allocation During Bidding And Negotiating Process

Effective management of projects requires rigorous attention to risk allocation and risk reduction strategies.   All construction programs have the same objectives:  (1) cost efficiency and avoidance of waste, (2) quality and programmatic content, and (3) timeliness of completion.  Often referred to as the “three legs of the stool,” these project objectives are in constant competition with each other.  Adding quality and program content to the final product obviously adds cost and time.  Advancing and accelerating project completion often (but not always) adds costs and certainly threatens quality. 

Learn more in this article, authored by Bill Warren.