Poor risk allocation and management is driving up costs and reducing efficiencies and quality in the building and construction industry. There is a need for new thinking around risk and responsibility.
This priority area will explore how to:
- Reshape procurement processes so that risk allocation and management is contracted in more sensible, equitable and fairer ways
- Improve collaboration to better manage risk across the value chain
- Align the risk-based consenting approach with the quality assurance approach
- Change the regulatory environment to support the uptake of new materials and technology while maintaining acceptable risk management
We want to achieve the following shifts:
- Procurement processes are more efficient
- Less time and money is spent on legal advice, intervention and disagreement
Progress to date
Work to date investigating the issue of risk management and allocation, including:
- university student interns working on two projects - "University's expertise applied to projects on contracting and risk" December 2018); and "Could game theory help us understand risk in contracting?" (March 2019)
- collaboration with Te Pūnaha Matatini - "Tangible progress in investigating the issue of risk" (published October 2018).
For the latest updates see Action Area: Risk.