In which stage might risks be reassessed and re-negotiated?

The stage where risks are reassessed and renegotiated is predominantly within the risk and resilience phase. This stage focuses on identifying, evaluating, and managing risks that could impact the contract or project outcome. It is essential to continuously monitor risks throughout the life cycle of a contract, as both internal and external factors can change and introduce new risks.

During this phase, stakeholders collaborate to reassess the likelihood and impact of identified risks, allowing for adjustments in strategies and responses to mitigate potential negative outcomes. This proactive approach to risk management facilitates a better understanding of the project’s resilience against uncertainties, and it creates an opportunity to renegotiate terms or conditions if the risk landscape shifts significantly.

In contrast, the other stages—such as payment and incentives, supplier development, and contract administration—while important, do not primarily focus on the reassessment and renegotiation of risks. Payment and incentives are more concerned with the financial aspects of the contract, supplier development focuses on enhancing supplier capability, and contract administration often deals with the routine management and enforcement of contract terms rather than risk analysis.