Collaborative bidding processes are widely used in the sector, largely out of necessity. However, heightened awareness of the effects of low-probability, high-impact risks during the Covid-19 pandemic has altered the risk appetite of some contractors when negotiating their terms.
Mark Alcock is principal risk manager at specialist risk management consultancy Equib
Over the past year, the pandemic has caused major disruption to construction projects large and small. This is mainly due to the impact of social distancing and the need to prioritise measures to keep workers safe and control site movements. For many contractors, this has impacted both their productivity and profitability.
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