What makes a contract risk usable?
Identify the source, event, consequence, owner, response, residual uncertainty and approval status.
| Field | Question |
|---|---|
| Source | Where is the requirement? |
| Event | What could happen? |
| Consequence | What changes in price, time or delivery? |
| Response | What clarification or assumption is proposed? |
| Approval | Who accepts the bid position? |
Who decides the position?
This is a document-control guide, not legal advice. A contracts professional and qualified legal adviser must decide the contractual position.
Common questions
What else should the bid team know?
Is every risk a contract breach?
No. It is a pre-bid issue requiring qualified assessment.
Can a generic risk register answer it?
No. The actual tender wording and project facts must be reviewed.
Primary sources
- NEC4 contract familiesNEC Contracts
- Plant and Design-Build Contract, Second Edition, 2017FIDIC
- Contract standards and current editionsStandards Australia