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Legal Risk Management in VDP Project

   

Added on  2021-06-17

12 Pages2808 Words439 Views
Legal Risk Management 1LEGAL RISK MANAGEMENTBy (Student’s Name)Professor’s NameCollegeCourse

Legal Risk Management 2LEGAL RISK MANAGEMENTExecutive summaryThe report analyses VDP project and identify inherent risks in the construction, operational andpre-construction phase of the entire project.it also discusses the possible consequences for thecontractor and/or client. The report states the parties capable of controlling the risks. It alsodiscusses and identifies approaches to dispute Resolution appropriate for the VDP project.Lastly, the report discusses how the project should be managed in order to reduce and preventthe impact and occurrence of disputes that are on the project. Inherent risks for VDP ProjectRisk of disruption by the activities of other Construction activities on the construction siteThis type of risk mostly happens during the construction of any project. The VDP project mayexperience a risk of disruption from the neighboring adjacent buildings. The adjacent buildingsand any similar projects around may prevent the completion of the project in the required time. Ifthis risk occurs when the consequences are that it will affect the business which happens withinthe construction site area (Regmi 2016).ControlThe Contractor of the VDP has higher chances of undertaking the risk. The contractor shouldselect the supervisor to prevent the risk of disruption. In case the Contractor succeeds incontrolling the risk the construction should continue without the complaints from the adjacentbuilding (Shoults 2016).

Legal Risk Management 3Risks of delay in payment to all the employees on siteThis type of risk always takes place during the construction of VDP project. The delay inpayment to both the Workmen and contractors has a negative effect on the completion of VDPproject. Payment is the total amount of money paid anyone for the performance of a workprocess. In construction industry payment is the amount paid to both the contractors andemployees after their works. Payment delay is where there is a delay in paying the employeesand contractors their money by the owners on time (Yassine and Pearson 2014).The possible consequence is that it will create disputes between the management and theemployees. Most of the employees will revolt and these will delay the completion of the VDPproject. There is also the consequence of no support from other close commercial buildings; thisis because of the disruption to their trading (Loreto et al. 2016).Control and severityThe contractor of the VDP has the capacity of undertaking the risk. They should appoint thesupervisors on the site to help reduce the risk associated with the disruption. This will help solvethe problem of project delay. The contractor should also appoint an expert to control paymentdelay by following the best practices of invoicing- they should ensure that the payment is listedclearly by ensuring that they have a clean due date. They can also control the problem of a lateproblem by preparing a late payment fee. They can prepare either a percentage or a flat fee. Thiswill help most of the workers because they will access loans in case of late payment (Breunig,Söderlund and Kvålshaugen 2015).Risk of Accidents and damage to property to the workers on site

Legal Risk Management 4This kind of risk takes place during the construction phase of the VDP project. Individuals whoare working on the construction project are exposed to higher risks of accidents. The propertiesof the workers may also be damaged. These accidents may cause serious construction accidentwhich may lead to death. The fatal accident may be caused due to falls, trips or slips. Falls arethe main cause of the accident in a construction site and them main result in death or injury.Workers who are more than six feet tall are at higher risk of being injured. They always fall fromladders and scaffolding. The workers may contact to harmful diseases derived from the externalenvironment of the workplace (Ayele 2016).Control and severityAccident and damage to properties to workers may make the project to proceed at a loss. It mayeven delay the VDP extension project and if death occurs to any worker then there will becompensation to those who are affected by the injuries. To control falls, the contractor is advisedto provide suitable safety gear and equipment to reduce and prevent causes of fall as well asother accidents (Paris, Ahluwalia, Cummings, Moreland and Wilkinson 2017). The fallprotection must also be provided at the construction site. The fall protection should also be givenat 6 feet at the site. The contractor should guard hole in the entire floor that can enable workersto walk as well as fall through by putting in place a railing and toe-board. The contractor shouldalso provide suitable working conditions which are free from injuries and known dangers. Thecontractor should also keep the working environment clean and train workers on how to avoidmalicious injury (Hovav and Herbon 2017). If the property happened because of the negligenceof the Contractor then he should be made to compensate those who are injured during the work.The risk should also be taken by the Company in case the damage happened because of theenvironmental factors. If the accident occurs to the workers on site when performing duty then

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