Today's computer technology creates interesting opportunities for innovation. This paper investigates a new contracting approach and risk allocation with a view toward reducing risk premiums and dispute resolution costs. The process described herein can be further developed and more effectively implemented through the use of computers as outlined in the conclusions. The paper concludes with a recommended process aimed at slightly modifying existing contract documents to incorporate a better way of allocating risks. These recommendations could be applied to any existing construction contract as an add on document. The recommended process will provide a clear understanding of responsibility for risks from the outset.

This article sets the stage for the future introduction of an Expert System that develops the contract documents pursuant to the risk(s) assumed or agreed to by the contracting parties.

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