Land contamination - management of financial risk (C545)

When carrying out any investigation, assessment or remedial treatment of contaminated land, one can never be 100 per cent certain that all environmental risks have been identified and removed. New and historic land contamination can seriously affect the value of property, even to the extent of turning an apparently valuable asset into an expensive liability. It is therefore important that construction professionals involved in contaminated land projects understand their financial risk exposure and know how to manage the risk efficiently. This publication reviews the ways in which different parties involved in such projects currently manage financial risk and provides specific guidance to help professionals improve their practice. Key words: contaminated land, project management.