Risk Mitigation

How to mitigate risks in order not to delay the project and not accrue additional costs for the potential risks described below that might face a developer in a development site: Write (50-100) words to explain the risk mitigation strategy for each point. Write each strategy under each point separately (look for the example I provided below) The strategy should be to the point without introduction or anything. Examples will be provided below of a risk and its mitigation strategy (in other words, how I want the question to addressed and answered).
The risks:
1) Site survey reveals unanticipated environmental problems requiring remedial and/or enabling works
2) Works do not meet Character Area Assessment SPD, particularly in relation to tree coverage / inadequate planting
3) Specialist parts and materials do not meet expectations, quality, or specifications
4) Sub-surface soil movement / changes during development
5) Inadequate form of construction procurement
6) Interest rates increase during project life cycle



1) Changes made to contract drawings- which leads to contractors demand for extention of time.

Risk Mitigation:
Changes to drawings are inevitable in most construction projects for various reasons with the highest impact ocurring at the post contract stage. The impacts can only be reduced as discussed.The selected procurement strategy, construction management, better accommodates changes to contract drawings as not all trade packages are awarded at the same time reducing the premium paid. Reduction in impact of risk through a change management procedure accomodated in the contract agreement between the client and trade contractor. Such a clause clearly outlines who is responsible for issuing variations, the limit to the amount of variations in terms of contract value , the communication procedure and process for approval of the variation such that it is an auditable and dispute free process.

2) Desirable elements of home design are not properly reconciled in the scheme design. Such as orientation of the buildings away from obstructing or bad views in relation to neighboring developments, poor quality and undesirable sizing of private and public spaces

Risk Mitigation:
Reduce likelihood of such a risk by ensuring experienced and reputable professionals are engaged in the scheme. Scheduling regular project reviews to discuss and review design. Hold consultations with and make a pre- planning application to the Bracknell planning department to discuss any design issues that need to be resolved before the planning application

3) Unforeseen adverse ground conditions

Risk Mitigation:
Geotechnical surveys should be taken to determine the existing ground conditions of the site before construction. In this way a suitable amount of money can be set aside for excavation works or any mitigation measures required. Thus reducing the risk of grossly overshooting the project budget. The contingency sum allowed for in the project costs will be able to cater for the remainder unforeseen eventuality

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