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Shipyard projects involving ship construction, repair, conversion and modification, along with the associated design processes, involve a wide variety of contracts. Almost always multiple contracts are part of each shipyard project. Disputes often arise when potential risks within the accomplishment of the project were not adequately addressed within the project’s contracts. Also, inconsistencies between related contracts often are the core reason for disputes. The management of projects under such circumstances constitutes a significant challenge to the success of the project. This paper identifies many of those potential risks to assist in addressing them in the contracts before the project commences.