Project Risk Assessment. During the Design and Procurement Phase, and before submitting the EMP proposal, the IPD Team will carefully examine the site at which the Work will be performed and all of the documents included in the Contract Documents available at the time; recommend performance to the Core Group of reasonable investigations essential to a full understanding of the difficulties that may be encountered in performing the Work; and acquaint themselves with, and advise the Core Group concerning, the conditions under which the Work is to be performed, including, without limitation, laws, codes and other restrictions on Architect’s, CM/GC's, Subcontractors' and Suppliers’ operations, local labour conditions, local weather patterns, restriction in access to and from the Project site, prior work performed by others on the Project, and obstructions and other conditions relevant to the Work or Services being performed and the Project site and its surroundings. With the exception of conditions which qualify as Differing Site Conditions or otherwise qualify as a Change Order under Article 24, the Allowable Cost, Expected Cost, Target Cost and Estimated Maximum Price shall not be adjusted as a result of any variance between actual site conditions and the conditions shown or represented in the Contract Documents; provided, however, that any costs actually incurred by the CM/GC or the Architect in connection with any such variance will be reimbursed as a Cost of the Work. The Allowable Cost, Expected Cost, Target Cost, EMP and Contract Time shall be adjusted by appropriate Change Order in the event of any variances between actual conditions which were not discovered or discoverable through reasonable investigation in accordance with this Section, and the conditions shown or represented in the Contract Documents.
Project Risk Assessment. 8.2.1 Each Party will be responsible for making its own assessment of Project risks for discussion with the other Party through the Project Directors or within the Working Group.
Project Risk Assessment. CM/GC represents that during the Preconstruction Phase and before submitting its PCE proposal, it will carefully examine the site at which the Work will be performed and all of the documents included in the Contract Documents; recommend to the Core Group or perform all reasonable investigations essential to a full understanding of the difficulties that may be encountered in performing the Work; be familiar with the terms and conditions thereof; and acquaint itself with and advise the Core Group concerning the conditions under which the Work is to be performed, including, without limitation, laws, codes and other restrictions on CM/GC's and Subcontractors' operations, local labor conditions, local weather patterns, restriction in access to and from the Project site, prior work performed by others on the Project, and obstructions and other conditions relevant to the Work, the site of the Work and its surroundings.
Project Risk Assessment. We recognize that risks and priorities can change quickly in the business environment, even upon completion of the audit. In order to avoid potential surprises, we will work with you during the performance audit, watch for changes in risks, consider the risk impact of any new regulations/legislation and monitor changes in your operations that may impact the performance audit work. We will then make suggestions to update or revise plans or programs, as necessary to address these changes. We also recognize that ultimately, the audit work needs to meet identified risk priorities within budgetary constraints and we will design our approach to address these requirements.
Project Risk Assessment. (Identify known risks and mitigations. Consider developing a High, Medium, Low or other quantifiable/qualitative risk ranking system.) KNOWN RISK SUGGESTED MITIGATION STRATEGY (IF KNOWN)
