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Management article
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Reference no. 89210
Authors: John D Macomber
Published by: Harvard Business Publishing
Published in: "Harvard Business Review", 1989

Abstract

Although construction is one of the riskiest things any company will do, upper management often ignores the risk or treats it as if it''s uncontrollable. Construction risk, however, can be analyzed and managed by using seven steps. Analyzing risk is largely a matter of assessing the complexity of the building, the site, the financing, the schedule, and the special uses and problems of the project. This analysis then drives the choice of contract and contractor.

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Abstract

Although construction is one of the riskiest things any company will do, upper management often ignores the risk or treats it as if it''s uncontrollable. Construction risk, however, can be analyzed and managed by using seven steps. Analyzing risk is largely a matter of assessing the complexity of the building, the site, the financing, the schedule, and the special uses and problems of the project. This analysis then drives the choice of contract and contractor.

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