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2 NCHRP LRD 86 CONTENTS I. Introduction, 3 A. e Risk Management Cycle, 4 B. Contracts as Vehicles for Allocating and Managing Risks, 4 C. E ect of Project Size and Complexity on Project Risk Pro le, 4 D. E ect of Choice of Project Delivery Method on Project Risk Pro le, 4 II. Risk Allocation Strategies Using Various Contract Provisions, 5 A. Planning, 5 1. Governmental Approvals, 5 2. Environmental Approvals, 8 3. Project Funding, 14 4. Hazardous Materials Management, 18 5. Agreements with ird Parties, 21 B. Pre-Award, 34 1. Delivery Methodology and Procurement Process, 34 2. Insurance Requirements, 39 3. Surety Bonds and Other Performance Security, 41 4. Warranty Requirements, 44 5. Payment, 48 6. Incentives and Disincentives, 50 C. Post Award, 52 1. Design Liability Provisions, 52 2. Provisions Limiting Contractor and Owner Liability, 56 3. Changes, 60 4. Dispute Resolution, 75 5. Suspension and Termination, 78 6. Operations and Maintenance, 79 III. Conclusion, 80 List of Excerpts, 81 Appendix A: Case Study Projects, 83 Appendix B: Representative Case Study Summaries, 84 Appendix C: Managing Enhanced Risk in the Mega Project Era Questionnaire for Project Personnel, 88 A01207--NCHRP LRD 86 cover aug17.indd 2 8/17/22 7:35 PM
