The purpose of this thesis was to produce useful information for the target company concerning contracting, the risks involved in contracting, and risk management on a general level. The objective was to evince how central a tool the contract is when it comes to successful projects and risk management, as well as to indicate the benefits that companies can attain by investing in the development of contracting capabilities and risk management.

This thesis is not implemented as a legal research but as a functional thesis regarding the contractual law and risk management framework. The publications of Mika Hemmo are used as essential reference concerning the law of obligations. In proactive contracting and contracting capabilities as well as contract risks the main references used are Helena Haapio’s publications. The source material used for risk management are the ISO 31000 standard and the websites of The Finnish Risk Management Association (FinnRima).

As an output of this thesis a contract risks’ check list was created for the target company. The check list is not published as an attachment of this thesis due to the confidential information it entails. However, the risk matrix models for qualitative risk analysis as well as for a risk management tool are published as an appendix. Addedly, an idea concerning the visualization of contract terms is introduced. In addition to these materials the content of the theoretical framework of the thesis may in itself be regarded as beneficial for the professionals working for the target company.

There is no special law in Finland concerning the business-to-business contracts for work, design, or service, instead the regulations originate from several different sources. In addition to the characteristics of their own industry companies should overall place more emphasis on the development of their risk management and contract abilities. All in all, when drawing up contracts, lawyers and project managers should bear in mind that contracts are ultimately not for the jurisdiction or for the court, but for establishing and enabling business activities. It is also essential that contracts are drawn up in writing, and this is not to be interpreted as a motion of no confidence, on the contrary; it is an indication of the fact that the participants have strived for understanding each other’s interests and intentions concerning the matter at hand.