How would you examine contractor’s attitude toward the risks. How can contractor’s attitude toward the risk affect the contract?
Risks are very important while making contracts and bidding. The contractor’s attitude can affect risks so they need to be looked at if at all possible. You can examine a contractor’s attitude towards risk by seeing if they have any risk management tools in place. If they have not checked the risk then they obviously do not believe any risk exists, but on the other hand, if they are constantly checking the risk management then they are cautious. The contractor’s attitude can affect the contract by making a really good contract or bad contract. If there are risks that occur the contractor could end up losing money or not making as much. However, if they account for the risk they can cover the risk and also have the potential to make more money.