Verbal analysis of risk elements in construction contracts

Abstract

The paper aims to analyse the construction contracts provided by FIDIC (International Federation of Consulting Engineers) and to determine their usefulness in respect of technical risk management. Contractors of international construction projects are often faced with complicated situations working with design documentation. One of the potential financial risk factor is associated with the frequent changes of documents and improper channels of communication between project partners. One of the major aspects is project financial and technical risk management. Project developers need various models of managing large and complex projects.