How to Remove Uncertainty From Your Project
According to The Construction Industry Institute, there are about 107 construction risks you should consider when managing a project. Before you start panicking about the 90 plus risks on the list you’re probably not completely aware of at this moment, let’s take a step back. While comprehensive, a list that long isn’t quite actionable because it contains many things you can’t control such as force majeure or acts of god.
In most projects, internal resources are stretched thin and project managers struggle to consistently deliver the necessary performance and control assessments. Just to keep projects moving, many companies aim to control and manage construction risks within reasonable limit only—still leaving much open to ambiguity. Regardless, a solid risk management strategy is critical to the security of your company and project. So, how do you know where to appropriately invest your time and resources in order to minimize major construction risks and control what often feels uncontrollable?
Given how difficult it is to control risk, construction software is one solution that can help to manage multiple large risks if implemented throughout the course of the project. With the right program and team, formulating a risk-based operational excellence program can help you better manage the entire end-to-end project lifecycle. To help you prioritize your risk assessment, we identified the main classifications of risks, as well as the top 6 risks that you can actually control with the right construction software.
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