Common use of Task 5: Risk Management Clause in Contracts

Task 5: Risk Management. The Construction Manager shall identify, quantify, document, and implement Project and construction risks and risk avoidance, reduction, and mitigation strategies, as well as monitor and provide written input into a Project risk register. The risk register will be maintained by the Department. The Construction Manager shall participate in the preparation, modifications, and maintenance of a risk register, and the Construction Manager shall continuously communicate its assumptions regarding impacts to risk as the design progresses. Assumptions: Project Manager, Project Construction Manager, Lead Estimator, Scheduler, Preconstruction Manager, CMGC Specialist and additional key personnel as appropriate with consultation with the department Project Manager shall plan to attend two (2) formal risk analysis meetings. The meetings will be held in San Bernardino or Grand Terrace and each will last up to 8 hours during the course of one business day. Deliverable: The Construction Manager shall submit written documentation for the risk register specifying the associated value, savings, and cost of risk avoidance, reduction, and mitigation strategies during each design milestone meeting, at a minimum. The Construction Manager shall also submit, at the time of the Construction GMP bid or fixed price bid, a report that summarizes the decisions for risk elimination or reduction and associated value of each decision in terms of cost and savings in direct relationship with its bid. Refer to Task 12 herein for further information regarding the Construction GMP bid and the fixed price bid.

Task 5: Risk Management. The Construction Manager shall identify, quantify, document, and implement Project and construction risks and risk avoidance, reduction, and mitigation strategies, as well as monitor and provide written input into a Project risk register. The risk register will be maintained by the Department. The Construction Manager shall participate in the preparation, modifications, and maintenance of a risk register, and the Construction Manager shall continuously communicate its assumptions regarding impacts to risk as the design progresses. Assumptions: Project Manager, Project Construction Manager, Lead Estimator, Scheduler, Preconstruction Structures Construction Manager, CMGC Specialist Environmental Manager and additional key personnel as appropriate with consultation with the department Project Manager shall plan to attend two (2) formal risk analysis meetings. The meetings will be held in San Bernardino or Grand Terrace at District 8 and each will last up to 8 hours during the course of one business day. Deliverable: The Construction Manager shall submit written documentation for the risk register specifying the associated value, savings, and cost of risk avoidance, reduction, and mitigation strategies during each design milestone meeting, at a minimum. The Construction Manager shall also submit, at the time of the Construction GMP bid or fixed price bid, a report that summarizes the decisions for risk elimination or reduction and associated value of each decision in terms of cost and savings in direct relationship with its bid. Refer to Task 12 herein for further information regarding the Construction GMP bid and the fixed price bid.