MEMO to Owner and Trade Partners In Construction

Brief Letter Or Memo To Owner And Trade Partners In Construction
Name Course Instructor Date
TO:
FROM:
DATE:
SUBJECT: Construction Management at Risk (CM RISK)
Dear owner and trade partners,
Unfortunately, we have encountered problems with the increased cost estimate and project delays. Risk management is carried out in the preparation phase of a proposal when the project is planned. The objectives of successful construction project management are to complete the project within the established period, ensure it is within budget, and meet the required technical and quality specifications. I also highlight the risks as they are likely to influence project planning and management, and project outcomes affect various stakeholders.
We have completed various projects where the employees had good construction field experiences and sued the available technologies allowing us to meet the project goals and objectives. However, this is different as the delays partly explain the cost overruns even as there has been due diligence. As per the contract terms, we are to complete the project, but the higher costs and delays make this difficult. It will be necessary to review the contract and performance considering the unforeseen circumstances that have resulted in the issues already highlighted.One of the effective risk management strategies is to determine the contingency and budget requirements at any time. As part of construction project analysis and management, there is a focus on setting the risk priorities and developing a risk management plan. At the moment, there has been a failure...