Adoption of Contract Management and Risk Mitigation Plans in PPP Projects.
Section 15
SEC. 15. Adoption of Contract Management and Risk Mitigation Plans in PPP Projects. - In order to manage the financial risks arising from PPP Projects, strengthen the credibility of the PPP Program and PPP Projects among the private sector, and to ensure the timely compliance with the contractual obligations of Implementing Agencies, PPP Projects undertaken through this Code shall require the adoption of contract management and risk mitigation plans, Such plans shall include the agreed project execution plan, all risks assumed by the government under the PPP contract, risks assumed by the Implementing Agency, risk mitigating measures, estimated costs to be incurred, target timeline to have each measure in place, and the appropriate action plan by the Implementing Agency to manage each type of risk. All plans shall be kept up-to-date and be submitted to the PPP Center for monitoring.