When Using the Traditional Approach to Managing Contracted Relationships, Risk

question 8

Essay

When using the traditional approach to managing contracted relationships, risk is transferred to the other party. Give a real-life example of this. Discuss why this is not conducive of a partnering relationship and how it can impact project innovation.

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Definitions:

Repudiated the Contract

The act of refusing to perform the duties or obligations set forth in a contract.

Withdrawn

Refers to the act of taking back or removing an offer, statement, or accusation before it has been accepted or acted upon.

Changes Mind

Changing mind refers to the act of altering one's decision or opinion about a previously made choice or stance.

Rejecting Delivery

The act of refusing to accept goods or delivery of goods, typically because they do not meet the terms of a contract or order.