Mitigating risks in construction projects
All construction projects come with a degree of risk and it’s important that these risks are, where possible, avoided entirely or – where this isn’t possible – mitigated and managed appropriately. As such, we’re providing tips for mitigating risks in construction projects.
Potential risks in construction
Risk management in construction is essentially about predicting the future and putting plans in place to control the potential outcomes of those risks in line with the desired project outcomes and the construction site in question.
The types of risks and potential risks in construction are generally found to be –
Health & Safety: anything that could impact the health & safety of your construction team, the public or visitors to the site, including falls, trips, vehicles, manual and materials handling, chemicals and substances.
Site Security: any event, behaviour or mishandling of access or equipment that could negatively impact site access, equipment, materials or documentation.
Subcontractors: ensuring any subcontractors are appropriately trained, documented and aware of site procedures.
Time: construction projects rely on multiple changing factors to reach completion and any adjustment to the expected timeframe(s), such a delay in the delivery of a specific piece of equipment or expected arrival on site of a subcontractor can negatively impact the expected completion date of the entire project.
Budget: any of the above potential risks can lead to a construction project running over budget and, for obvious reasons, this is a potential yet undesirable outcome!
Tips for mitigating risks in construction projects
Plan, plan, plan: appropriate planning of the project as a whole – paying particular attention to potential risks and outcomes – can have a significant impact on risk and the mitigation of risks in construction projects as predicting the risks involved during the lifecycle of the project, potential outcomes and therefore setting out tasks and actions should these risks occur ensure the impact of those risks remains minimal.
Work with experts: working with contractors and subcontractors you can trust and have a good reputation in their field is key to ensuring the success of a project; an experienced, skilled and knowledgeable construction company is able to adequately manage a project of almost any size and complexity, and the potential risks that come with it.
Options and contingency plans: in construction projects, there will sometimes be something or multiple things that don’t quite go as expected and, because of this, it’s important that you have a contingency plan of action for any unforeseen circumsances – knowing what to do if something doesn’t go quite the way you want it to or doesn’t work as it’s meant to
Monitor and review: regular monitoring, reviewing and reporting is vital to the overall success of a project and, especially, to mitigating risks; weekly or monthly progress reports serving to provide key stakeholders with an overview of – as the name suggests – project progress, including potential risks to that progress.
Communication: communication between contractors, subcontractors and key stakeholders is key to risk mitigation in construction projects as regular contact between teams will inevitably flag up potential risks and challenges, as well as foster collaboration between all involved.
In short, risks are inevitable in construction projects, but with the right team and the right processes, any risks can be fairly easily mitigated, if not avoided entirely!
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