The allocation of differing site condition risk
Mining Engineering, 2015, Vol. 67, No. 3, pp. 159-159
Jones, Zachary D.
Construction projects involve a great many risks. The risk that material prices will increase during construction or that the work under construction will be destroyed by fire, storm or some other act of God are just a few examples. In tunneling or other underground projects, one of the most significant risks is that the subsurface conditions encountered during construction will differ from what is expected. Each of these risks must be accounted for, managed and, ultimately, the duty of one party or the other to bear. The primary tool used to allocate the risks among the parties is the construction contract.
Please login to access this article.
If you are not an SME member, you can join SME by clicking the button below.