Abstract:
With the trend in procurement systems from the
traditional competitive tender to negotiated tender with a
consortium or joint venture company, there is a growing need
for the management of risks to be handled with greater care
and depth. There are two levels of risk handling in these
complex projects, one between consortia partners and the
second between the consortium and the client. There is growing
need to link the risk management plan to the negotiation of
contract to create a lasting partnership between the project
participants. Contracts negotiated in isolation to the risk
management study results. if at all conducted, fail to allocate
the risks to the parties most capable or willing to take those
risks and manage them. Contractors have to adapt to the
innovative, long-term type contract. This paper discusses the
management strategies of contractors who are major
stakeholders in such ventures using a case study model.
