【正文】 . Construction professionals need to know how to balance the contingencies of risk with their specific contractual, financial, operational and anizational requirements. Many construction professionals look at risks in dividually with a myopic lens and do not realize the potential impact that other associated risks may have on their business operations. Using a holistic risk management approach will enable a firm to identify all of the anization?s business risks. This will increase the probability of risk mitigation, with the ultimate goal of total risk elimination . Remended key construction and risk management strategies for future construction projects have been considered and their explanation follows. . Hinchey stated that there is and can be no ?best practice? standard for risk allocation on a highprofile project or for that matter, any project. He said, instead, successful risk management is a mindset and a process. According to Hinchey, the ideal mindset is for the parties and their representatives to, first, be intentional about identifying project risks and then to proceed to develop a systematic and prehensive process for avoiding, mitigating, managing and finally allocating, by contract, those risks in optimum ways for the particular project. This process is said to necessarily begin as a science and ends as an art . According to D. Atkinson, whether contractor, consultant or promoter, the right team needs to be assembled with the relevant multidisciplinary experience of that particular type of project and its location. This is said to be necessary not only to allow alternative responses to be explored. But also to ensure that the right questions are asked and the major risks identified. Heads of sources of risk are said to be a convenient way of providing a structure for identifying risks to pletion of a participant?s part of the project. Effective risk management is said to require a multidisciplinary approach. Inevitably risk management requires examination of engineering, legal and insurance related solutions . It is stated that the use of analytical techniques based on a statistical approach could be of enormous use in decision making . Many of these techniques are said to be relevant to estimation of the consequences of risk events, and not how allocation of risk is to be achieved. In addition, at the present stage of the development of risk management, Atkinson states that it must be recognized that major decisions will be made that can not be 37 based solely on mathematical analysis. The plexity of construction projects means that the project definition in terms of both physical form and anizational structure will be based on consideration of only a relatively small number of risks . This is said to then allow a general structured approach that can be applied to any construction project to increase the awareness of participants . The new, simplified Construction Design and Management Regulations (CDM Regulations) which came in to force in the UK in April 2021, revised and brought together the existing CDM 1994 and the Construction Health Safety and Welfare (CHSW) Regulations 1996, into a single regulatory package. The new CDM regulations offer an opportunity for a step change in health and safety performance and are used to reemphasize the health, safety and broader business benefits of a wellmanaged and coordinated approach to the management of health and safety in construction. I believe that the development of these skills is imperative to provide the client with the most effective services available, delivering the best value project possible. Construction Management at Risk (CM at Risk), similar to established private sector methods of construction contracting, is gaining popularity in the public sector. It is a process that allows a client to select a construction manager (CM) based on qualifications。 make the CM a member of a collaborative project team。 centralize responsibility for construction under a single contract。 obtain a bonded guaranteed maximum price。 produce a more manageable, predictable project。 save time and money。 and reduce risk for the client, the architect and the CM. CM at Risk, a more professional approach to construction, is taking its place along with designbuild, bridging and the more traditional process of designbidbuild as an established method of project delivery. The AE can review the CM?s approach to the work, making helpful remendations. The CM is allowed to take bids or proposals from subcontractors during pletion of contract documents, prior to the guaranteed maximum price (GMP), which reduces the CM?s risk and provides useful input to design. The procedure is more methodical, manageable, predictable and less risky for all. The procurement of construction is also more businesslike. Each trade contractor has a fair shot at being the low bidder without fear of bid shopping. Each must deliver the best to get the projec. Competition in the munity is more equitable: all subcontractors have a fair shot at the work . 38 A contingency within the GMP covers unexpected but justifiable costs, and a contingency above the GMP allows for client changes. As long as the subcontractors are within the GMP they are reimbursed to the CM, so the CM represents the client in negotiating inevitable changes with subcontractors. There can be similar problems where each party in a project is separately insured. For this reason a move towards project insurance is remended. The traditional approach reinforces adversarial attitudes, and even provides incentives for people to overlook or conceal risks in an attempt to avoid or transfer responsibility. A contingency within the GMP covers unexpected but justifiable costs, and a contingency above the GMP allows for client changes. As long as the subc