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Explain the key areas of risk by which the cost of a construction or engineering project may increase and how the Standards Australia General Conditions of Contract AS2124-1992 allocate those risks.

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Solution Preview

The construction and engineering projects is full of challenges related to optimal resource utilization, and during the process decision makers have to compromise between different and usually conflicting business objectives. The four key objectives which can also be defined as the key areas of risk for a construction project are time, cost, quality and

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