Reducing Construction Risk

By Melody Eve-Ramos, AMAST Content

It’s no secret that construction is a risk-filled industry. According to OSHA, one out of every five workplace fatalities is construction-related. Risks show up in several other aspects of the field including finance, schedule, and design. For management to minimize these risks, modern methods and technologies can be implemented.

Here are some examples of construction risks and the top three ways to reduce them:

● Safety hazards that lead to injuries

● Managing change orders

● Incomplete drawings and poorly defined scope

● Unknown site conditions

● Poorly written contracts

● Unexpected increases in material costs

● Labor shortages

● Damage or theft to equipment and tools

● Issues with subcontractors and suppliers

● Availability of building materials

● Poor project management

Implement Digital Software

When projects are left open to chance, unforeseen circumstances could dramatically impact when and how the project will be completed. By adopting digital software, contractors can be sure their team members will be on the same page. Software allows for architects to design safe and complete plans, managers to correctly calculate how much material they will need, and for accounts to manage billing and payment quickly and efficiently.

Digital software is also helpful in maintaining organization. By having one program where all documents related to a project are saved, there is less risk of losing information or forgetting an important document.

Training

Repeat training is an efficient way to brief all staff about new processes and ensure that nobody is deviating away from the set procedures, especially when new construction methods have been developed or new tools are being introduced in a project. Training is a useful tool for all employees, no matter how long they have worked for a company.

Communication

The simplest way to mitigate risk in construction is effective communication. According to Managing Risk in the Construction Industry, a new SmartMarket Report from Dodge Data & Analytics, regular meetings with the full project team focused on risk and the development of a plan to manage risk. Regular communication helps increase project performance reliability, maintain project quality, and improve project safety.

Sources

https://esub.com/construction-project-management-software-blog/10-tips-help-subcontractors-mitigate-risk/

https://www.constructconnect.com/blog/identifying-managing-construction-project-risks

https://constructionblog.autodesk.com/top-construction-risks/

https://mcsmag.com/solution-reduce-construction-risk/

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