Elaborate the different risks that might be involved in a co

Elaborate the different risks that might be involved in a construction contract

Solution

RISK-

•Risk can be defined as the variability of return from an investment

•It is an event that has some degree of uncertainty attached

•If the probabilities of deviations are known then it is known as risk but if probabilities are not known then it should be uncertainty.

Types of RISK

1.Project Completion risk

2.Resource risk

3.Technology risk

4.Exchange rate risk

5.Political risk

6.Legal risk

Here are some various issues with a contract