risk management

Construction Risk Management?

 

We apply a Risk Assessment & Management approach to all of our construction jobs by determining the risks present in your projects and evaluating the procedures to minimize their impact. In our construction projects, the process involves planning, monitoring, and controlling instances of risk. 

Sources of Construction Risks:

To craft your risk plan, you’ll first need to identify the factors that could most jeopardize your projects. The potential sources of risks most common to construction include:

  • Safety Risk: Any construction site risks or hazards that can lead to worker accidents.

  • Financial Risk: Factors that impact your financial flow, including lack of sales, problems with the economy, unexpected cost increases, and competition with other firms.

  • Legal Risk: Potential disputes in the fulfillment of contracts with clients.

  • Project Risk: Project hazards such as poor management of resources, miscalculation of time, lack of proper policies, or misunderstanding of project deliverables.

  • Environmental Risk: Floods, earthquakes, and other natural phenomena that damage construction sites and make work inaccessible.