Inherently, construction projects involve risks. For most projects, cost and schedule are the two risks of paramount concern; severe consequences can be suffered by all construction participants (i.e., owner, contractors, design professionals, and others) if a project is not completed within budget and on schedule. Besides cost and schedule, there are other risks that greatly impact the success of a project. For example, accidents at jobsites are not uncommon, and structural failures can similarly be tragic.
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