{
  "query": "NEC4 contract unknown unknown risk management benchmarks construction",
  "claims": [
    {
      "claim": "NEC4 contracts provide for risk management through specific mechanisms including programming, early warnings, and compensation events.",
      "verbatim_quote": "The ECC provides for risk management through its programming, early warning, compensation event mechanisms and quality management procedures, underpinned by the cooperative approach between the ECC Project Manager and the Contractor in accordance with clause 10.2.",
      "source_url": "https://www.neccontract.com/getmedia/a25e1381-cf65-41f8-8b24-505009f9953c/Guidance-on-NEC-and-underground-works.pdf?ext=.pdf&srsltid=AfmBOopgoi2XnMWjohJZjQYgU-nwSWoOIo9HdQThvQk8041LmG6VA69l",
      "relevance": "high"
    },
    {
      "claim": "Contractors under NEC4 are expected to implement integrated risk management procedures, including risk registers and management plans.",
      "verbatim_quote": "The Contractor should be required to develop and implement during construction an integrated risk management procedure, including risk management plans, risk registers, method statements, and health & safety plans in conjunction with the ECC procedures.",
      "source_url": "https://www.neccontract.com/getmedia/a25e1381-cf65-41f8-8b24-505009f9953c/Guidance-on-NEC-and-underground-works.pdf?ext=.pdf&srsltid=AfmBOopgoi2XnMWjohJZjQYgU-nwSWoOIo9HdQThvQk8041LmG6VA69l",
      "relevance": "high"
    },
    {
      "claim": "In cost-based NEC4 options, bidders must use fee percentages to cover risks not included in Defined Cost, such as profit and disallowed costs.",
      "verbatim_quote": "In the cost-based options (C, D, E and F), the bidder bids fee percentages that are applied to its ‘Defined Cost’ and so must cover for profit, any element of its real cost not included in the Defined Cost and the components of the defined ‘Disallowed Cost’.",
      "source_url": "https://www.neccontract.com/getmedia/517c3d32-df47-4b53-b515-9faf3b377d5a/Richard-Patterson-Risk-Management-Paper.pdf?srsltid=AfmBOop8s7i9x9uHueVFbn51I7zLbW_-tPbhGBbcyqBz6QhqH3Qj4Jmz",
      "relevance": "medium"
    },
    {
      "claim": "NEC4 distinguishes between the proactive management of risks and the contractual allocation of those risks.",
      "verbatim_quote": "First, a distinction must be drawn between risk management and risk allocation in the NEC contracts.",
      "source_url": "https://www.lexisnexis.co.uk/legal/guidance/nec-contracts-risk-management",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] NEC4 contracts provide for risk management through specific mechanisms including programming, early warnings, and compensation events. (source: https://www.neccontract.com/getmedia/a25e1381-cf65-41f8-8b24-505009f9953c/Guidance-on-NEC-and-underground-works.pdf?ext=.pdf&srsltid=AfmBOopgoi2XnMWjohJZjQYgU-nwSWoOIo9HdQThvQk8041LmG6VA69l)\n- [HIGH] Contractors under NEC4 are expected to implement integrated risk management procedures, including risk registers and management plans. (source: https://www.neccontract.com/getmedia/a25e1381-cf65-41f8-8b24-505009f9953c/Guidance-on-NEC-and-underground-works.pdf?ext=.pdf&srsltid=AfmBOopgoi2XnMWjohJZjQYgU-nwSWoOIo9HdQThvQk8041LmG6VA69l)\n- [MEDIUM] In cost-based NEC4 options, bidders must use fee percentages to cover risks not included in Defined Cost, such as profit and disallowed costs. (source: https://www.neccontract.com/getmedia/517c3d32-df47-4b53-b515-9faf3b377d5a/Richard-Patterson-Risk-Management-Paper.pdf?srsltid=AfmBOop8s7i9x9uHueVFbn51I7zLbW_-tPbhGBbcyqBz6QhqH3Qj4Jmz)\n- [MEDIUM] NEC4 distinguishes between the proactive management of risks and the contractual allocation of those risks. (source: https://www.lexisnexis.co.uk/legal/guidance/nec-contracts-risk-management)"
}