A good risk management strategy is a vital tool for the success of any construction Project. Recent studies show that risk management has started to influence an increasing number of companies and not only the largest projects (Azinim & Edum-Fotwe, 2006; Simu, 2006).
Risk management aids decision making by taking account of uncertainty and its effect on achieving objectives and assessing the need for any actions.
Risk Management
I provide construction risk management by identifying and analysing potential risks that may occur throughout the construction process. I perform risk assessments on construction projects to assist my clients in preventing and mitigating costly potential delays and disruptions. Other risk management services I provide are as follows;
- Risk identification
- Probability assessments
- Constructability Review
- International risk evaluations
- Cost escalation analysis
- Risk Monitoring
- Schedule & cost forecasting
- Delays and Disruptions
- Damage Assessment
In my experience a proper approach to management of risk provides the following benefitsto my clients:
- Increased understanding of project risks and their potential impact;
- Informed and auditable decision-making and rationale risk taking;
- Development of risk contingencies that reflect risk exposure;
- Improved commercial and programme management;
- Prioritised management;
- Clear and independent assessment of risks together with practical advice on actions.