HYP #8 - Risk Management I

Question 1

What are the four greats risk factors?

Answer 1

Clients
Negotiation and Contracts
Communication
Project Team Capabilities

Question 2

What are four ways to manage risk?

Answer 2

Avoid risk by….. selecting projects the fit firms expertise; work w/ clients that have good reputation
Transfer Risk….. contract and insurance transfer’s risk away from architect towards client/consultants
Assume Risk…… accept work w/firm capabilities
Control Risk……. adopt best practices and consitent procedures; train employees; hire lawyers when needed