The success of contractors or subcontractors often depends on how well they understand and manage construction contract risks. This is often referred to as Risk Management. A major part of risk management is allocation of risk, where a contractor or subcontractor assigns by contract, the responsibility for a certain risk occuring on another party, who will then be responsible for that risk. Another aspect of risk management is the manner in which a party handles its assumed risk so that the possibility, and resultant cost of the risk is minimised.
BCGreen Quantity Surveying Services is able to assess a party’s risk pre-contract and provide a “Commercial Roadmap” which identifies the risks associated with certain clauses contained in a Contract and how they relate to other clauses interdependently. This enables the contractor to understand its rights and obligations and gives rise to the opportunity to transfer or allocate risk to a third party (eg. subcontractor).