Examining Risk-related Contract Decisions for Projects
Risk-related Contract Decisions for projects are risk response approaches agreed upon by both parties in a project when procuring materials of a third party for a project.
Some of these decisions are made when :
- Planning response for the project.
- Sharing or transferring part or all of the risk opportunity or threats respectively.
- Enhancing or mitigating part or all of the opportunity or threats respectively, faced by an organisation.
Some of the risk related decisions agreements includes: insurance, no ding services, letter of intent, letter of credit, bank guarantee, and other items as appropriate for the project.
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