The risks applicable to most stakeholders in this phase include
- sufficient information to quantify the risk and calculate risk/reward.
- Procurement strategy not in line with risk transfer in insurance contracts.
- The use of unproven technology and/or suppliers.
sufficient time must be allocated to analysing these risks to allow a bespoke risk transfer programme to be structured and marketed before construction begins.
This planning and design phase in the lifecycle involves many issues that can be attributed to the complexity of collaboration between multiple stakeholders. The assumptions made here will be proven—or not—later in the project. This phase may also see a project halted or cancelled if a nancial close cannot be achieved, the procurement process fails, or technology risks are deemed too high