Risk analysis and management in design and construction have, in the past, tended to depend mainly on intuition, judgment, and experience. This course will help the student explore the subject of risk in a more objective manner, looking at both traditional risk management through the use of a more systematic analysis of defining, assessing, and treating risk to help decisions to proceed and aid in managing the work. The need to assess risk, manage risk, and reduce liabilities is the main subject matter of this course. Being aware of current problems and being able to solve them is of prime importance. Assessment of risk, the management of liability, government and societal public demand for an independent third party to manage risk is also examined. Insurance, indemnification, warranty, bonding, and surety are examined as risk management strategies.