Hennepin County - Performance Based Studies Research Group

Risk Plan Example
Phase 1
Selection
Risk Description:
Solution:
Unforeseen risk or conditions are discovered on the project.
Risk that is not identified by client professional, competing contractors, or expert contractor
will be identified and solved within 3 days maximum (unless longer time is justified and
requested). The contractor will resolve unforeseen risks in the following manner:
• Contractor shall immediately notify the designer and owner the same day as discovery
of potential cost and time impact
• Contractor shall find best possible options to minimize risk, with accompanying cost and
time
• All cost and time figures will be competed among the best performers
• Contractor shall propose the best solution with justification and present to client
representative
• If client representative approves, no action required, as contractor will create change
order for work, justification, pricing, and proposal within the specified time, and
proceed to accomplish the work
• If client objects, contractor will work around issue and document cost and time
deviation on a weekly basis
Documented
Performance:
Of our 15 most recently completed projects in similar scope to this project, less than 1% of
the deviations were unforeseen. Our average response time from identification of
unforeseen risk to issuance of RFI is 1 day (for these same 15 projects).
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