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DAR AL RIYADH INSIGHT #93
Insight #93 Potential Event Risks
Dar Al Riyadh Insights reflect the knowledge and experience of our Board, executives and staff in leading and providing PMC, design and construction management services. Dar Al Riyadh believes in the importance of broadly sharing knowledge with our clients and staff to improve project outcomes for the benefit of the Kingdom of Saudi Arabia.
Six elements involved in event contingency are examined in this series of Insights:
- Various financial components of a project’s price
- Event contingency as distinguished from cost contingency
- Preferred method of addressing event contingency from a provider’s perspective
- Potential event risks warranting consideration (event risk checklist)
- Events typically excluded from event contingency
- Modeling of event risk in large complex projects
This Insight addresses number 4.
Potential Event Risks
Event risks may be segregated in many different ways. One effective starting framework used in considering international development and construction projects is the ESPRIT framework. The ESPRIT framework comprises:
- Economic
- Social
- Political
- Religious
- Intellectual/Ideas
- Technological
Potential event risks are reflected in the following table, organized using the ESPRIT framework. Risks that may be retained in whole or in part are indicated and should be considered typical and unmitigated.
To review the table, please check the attached file.
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