Scribd
Upload
9 views3 pages

Construction Risk Management Strategies

The document outlines various risks associated with a construction project, including health and safety, environmental contamination, design changes, cost overruns, and workforce shortages. Each risk is assessed based on its probability and impact, with recommended responses such as mitigation, transfer, and elimination. Additionally, it provides specific actions to address these risks, including compliance with regulations, conducting inspections, and utilizing technology.

Uploaded by

ivarhomeimprovementinc
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
9 views3 pages

Construction Risk Management Strategies

The document outlines various risks associated with a construction project, including health and safety, environmental contamination, design changes, cost overruns, and workforce shortages. Each risk is assessed based on its probability and impact, with recommended responses such as mitigation, transfer, and elimination. Additionally, it provides specific actions to address these risks, including compliance with regulations, conducting inspections, and utilizing technology.

Uploaded by

ivarhomeimprovementinc
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

RISKS

Identification Assessment Response


Probability X
What are the risks? Method
Impact

Health and Safety Mitigate


Very high
accidents onsite Transfer
Safety

Safety of people around


Very high Eliminate
the jobsite

Unforeseen soil/site Mitigate


Environmental contamination condition High
Eliminate

Design Changes
Medium high Mitigate
Construction challenges

Cost overruns
Not meeting High Mitigate
deadline

Construction

Mitigate
Workforce Shortage Medium high
Transfer

Extreme weather
Medium Mitigate
condition

Increment on material
Medium high Mitigate
cost
Exploit Exploit
Suppliers delay

Availability of project
Medium low Mitigate
fundings
Financial
Political uncertainty
Medium Accept
Economic uncertainty
ISKS
Response

Action
Compliance with OSHA regulations. Conduct
inspections regularly, documenting and addressing
any near miss.

Project insurance policy.


Sub trades insurance requirements.
Barricade perimetral site area.
Implement security system 24/7.
Conduct environmental site assessments.
Consider contingency funds allowance.
Seek expert advice and develop a remediation
plan if needed (involve the community).
Conduct VE and constructability analysis.
Leverage builder inputs early in design stage.
Use of 3D, BIM, virtual reality, allowing better
testing/visualizing processes and finished product.
Implement
an efficient change order process.

Embracing technology implementation.


Set realistic budget and schedule estimates.
Allocate extra
resources to speed up strategic work activities.
Monitor
and update schedule continually. Design
concrete structures with duplicates to reuse forms.
Workforce procurement through unions.

Standardization design/construction improving


productivity and reduce unnecessary efforts.
Issue construction bonds.
Monitor progress on activities in case of delay.
Take correctives actions on any schedule
adjustment to get it back on track.
Use local material when they are satisfactory.
Evaluate/consider alternatives vendors.
Order long lead time items in advance to avoid
impact our schedule.
Buy and storage on any significant discount
opportunity.

Breakdown funding process into project phases.

Follow close government


decisions/announcements.
Risk Impact
1 2 3 4 5

Probability
2
3
4
5

You might also like