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  • Essay / Importance of Risk Management in Construction - 959

    To avoid faulty design, the design team must not only fully understand the client's wishes, but also establish an effective communication system between the designers. Inadequate program planning often appears in projects with tight schedules, resulting in some programs being reduced in order to meet the project schedule and is seen as another designer risk. Accurate cost estimation is another designer/consultant risk that often results in a discrepancy between the estimated cost and the actual cost. Inadequate site information, such as soil test results, survey reports, etc., can also lead to unexpected risk of project delay and cost.