Risk Management is essential to effective project planning and to successful containment of project delays and budgetary overspend, and to limiting the scope for contentious issues and related contractual claims to arise. Significant benefits in risk mitigation and in cost saving can be realised for a relatively small investment at project outset. At project procurement and planning stage, Hambleton provides:
- Assistance in assessment of inherent project risk and of commercial, contractual and other risks
- Advice on procurement strategy and the prudent and economic allocation and dissipation of risk
- Review and analysis of intended contractual arrangements in order to ensure that the intended allocation of risk will be achieved
- Analysis of risk distribution in tender documentation and advice on the effective management of such risk
- Review of retained risks and risk bearing capacity, involving investigation of possible economic alternatives to conventional insurance purchase and of measures for dealing with retained risk
Thereafter, Hambleton undertakes periodic monitoring of the changing project risk profile as work proceeds, in order to ensure appropriate 'stepping-down' of measures in place to deal with expired risks and the timely identification of newly emerging risk and evaluation and implementation of appropriate mitigation procedures.
At the project procurement stage, Hambleton provides:
- Assistance in the selection of an appropriate 'standard' contract form for a particular application or, where applicable, in the formulation and development of 'tailor-made' contract conditions
- Assistance in drafting and negotiation of alternative contract terms
- Advice on the prospective commercial and contractual problems that may arise in a particular application, whether relating to use of a ‘standard' contract form or to an individual purpose-designed form
- Analysis of project scheduling and resource planning and advice as to the sufficiency and viability of related proposals
Hambleton also offers assistance in the drafting of pre-bid agreements, joint venture agreements, guarantees, bonds and warranties and 'in-house standard' documentation, including contract forms, for use by developers, contractors, sub-contractors and suppliers.