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Risk Allocation and Contractual Issues
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This guide:
- outlines the background methodology for risk allocation;
- describes major types of project risks and contractual issues; and
- sets out the government-preferred approach for each risk.
Please note many of the risk positions in this guide (2001) have been updated in the Standard Commercial Principles document published in 2005.
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Download the full Risk Allocation and Contractual Issues Guide |  | | PDF | | 2.59Mb | | 20/12/2005 |
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Outlines the philosophy of risk management and, in particular, risk allocation principles. These are based on a risk allocation that ensures a value for money outcome. The risk should be allocated to the party best able to manage it (at least cost). This part also deals with risk mitigation techniques. | | | PDF | | 94kb | | 20/12/2005 |
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Classifies the major project risks into ten categories and recommends a government-preferred position on allocating each of the identified risks. For each risk there is discussion on the:
-risk definition;
-allocating the risk and the government-preferred position;
-issues for government to consider; and
-risk mitigation options. | | | PDF | | 216kb | | 20/12/2005 |
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Discusses some of the key issues that arise when implementing and enforcing the risk allocation through a contract. Discussions include:
-dealing with risks that are difficult to allocate;
-mechanisms for dealing with the benefits of risk;
-government issues such as insurance, step-in, default and remedies and dispute resolution. | | | PDF | | 159kb | | 20/12/2005 |
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Appendix A contains a risk matrix that covers risk, description, consequences, mitigation and preferred allocation.
Appendix B contains a glossary of terms. | | | PDF | | 57kb | | 20/12/2005 |
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