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Risk Analysis X 4: Compare and Contrast the Different Definitions of “Construction Risk” By Insurance, Legal, Construction and Finance Professionals (CCL740U)

Presented By : Jay Palmos
(*) Single User Price. For multiple users please call 1-800-223-8720
Pre Recorded Webinar
60 minutes
  •  Tue, July 22, 2014
Event Description

Build a Basic Financial Feasibility Model and Identify the Major Sources of Financial Risks Related To Construction Projects

It is interesting to note how little overlap or similarity exists between those who perform construction risk analysis from different fields.  For example, an insurance agent will not consider the same set of risks as an attorney, or banker, or project team.  The purpose of this session is to introduce the most important concepts of construction risk defined by different project participants.

Expert speaker Jay Palmos will shed light on the 4 paradigms of risk:

  • Project risk, from the standpoint of a field professional
  • Financial risk, as defined by those in the banking, investment or bonding perspective
  • Legal risk that are considered by front-end attorneys
  • Insurance risk, each of the risk profiles associated with a single project may focus upon completely different concepts of the risk paradigm.

Understanding how and why each group deals with risk differently will provide the attendees with an insight into why some projects are considered successful on site, but failures by management and the market. The risk principles considered in this presentation are divided into four categories, and discussion topics will include:

  1. Construction Risk
    1. What does a good risk model include
    2. How best practice risk modelling is performed
    3. Example of a good risk sheet
    4. What are the most likely causes of construction delay risk
  2. Legal Risk
    1. What are the major sources of legal risks which attorneys look for
    2. How do they typically handle these risks
  3. Financial Risk
    1. How a financial model is set up for a standard construction project
    2. Discussion of the major types of financial risk often considered during the lending stage
  4. Insurance Risk
    1. What are the most commonly used policies
    2. What gaps in coverage often exist
    3. Methods of minimizing unnecessary exposure

Benefits of this session:

  • Learn how to build a basic financial feasibility model and identify the major sources of financial risks related to construction projects
  • How to prepare a constructability project risk portfolio and how to interpret the results of a fully implemented construction risk analysis
  • Develop an understanding of the most common construction-project insurance products in the U.S. market
  • Description of the range of risk-transferring contract documents available and tips for identifying major bias or other legal risks involved with standard construction agreements

Ask a question in the Q&A session following the live event and get advice related to the conference, directly from our expert speaker.
Who should attend

Those interested in understanding construction risk from another point of view, attendees from:

  • Construction risk professionals
  • Insurance and surety professionals
  • Construction lawyers
  • Banking and finance personnel
About Our Speaker(s)

Jay Palmos, Construction Law ExpertJay Palmos
Jay Palmos has 20 years’ experience in the construction industry. For the first 10-years, Jay worked on-site on three major nuclear, iron ore and civil projects, and for the second 10-years as an expert witness and legal scholar.  Jay is licensed to practice law in the US and Australia, and has lectured in ... More info

 
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    Subject: You might be interested in this event from AudioSolutionz
    Event Title: Risk Analysis X 4: Compare and Contrast the Different Definitions of “Construction Risk” By Insurance, Legal, Construction and Finance Professionals
    Presenter(s): Jay Palmos

 
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