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IJRSSMay 2014Volume 4, Issue 2ISSN: 22492496___ Risk Allocation & Subsequent Legal Issues in Construction Contracts Deepankar Sharma* Priya Bhatnagar*Abstract The paper aims to shade intensive lights
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01
Identify all parties involved in the project or agreement
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Determine the specific risks associated with the project
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Allocate these risks to the appropriate parties based on their ability to control or mitigate them
04
Clearly outline the responsibilities of each party in managing the allocated risks
05
Establish a process for monitoring and reviewing the risk allocation to ensure it remains effective

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Construction companies
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Risk allocation and subsequent refers to the process of distributing potential risks among parties involved in a project or contractual agreement, ensuring that each party understands their responsibilities and liabilities.
Typically, parties involved in the contract or project that entails potential risks are required to file risk allocation and subsequent documents, including contractors, project managers, and stakeholders.
To fill out risk allocation and subsequent forms, parties should identify all potential risks, assign responsibility for each risk, and detail any mitigating measures or actions that will be taken.
The purpose of risk allocation and subsequent is to clearly define responsibilities and liabilities, minimize disputes, and ensure that appropriate measures are taken to manage and mitigate identified risks.
Information reported on risk allocation and subsequent typically includes identified risks, assigned responsibilities, mitigation strategies, timelines, and any relevant contractual obligations.
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