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  Using risk analysis in construction tendering processes

  This article is primarily aimed at owners, project promoters and financial institutions to help them in understanding the mechanisms of risk management in the procurement process of tunnelling works. Risk management has been a subject well discussed within the tunnelling industry for many years as the stakes relating to underground works can be very high indeed. With the publication in 2009 of the International Standard Organisation’s ISO 3100ISO 3101in 2010, the update to the Code of practice published by International Tunnelling Insurance Group (ITIG) in 2012 there is a growing awareness among all actors that risk management is becoming a GAME CHANGER for the Underground Industry’s international contractual practices. This paper reviews the governing rules underlying any risk management plan before detailing the concepts, the key issues and how the inclusion of a risks management alters the procurement process before concluding on the implications. No definition of terms is given in this paper but with the normalised terms in bold character. The reader unfamiliar with the terminology should have the ISO Guide 73:2009 and ISO 31000:2009 at hand when reading this article. Examples given should nonetheless help understand the meanings associated to each term.

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