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Risk Management

Risk is an inherent part of any construction project. Hence, it is important that construction businesses are prepared for untoward incidences that can cause significant disruption to any project.

Even a small issue can lead to a major problem, including downtime and delay. Each wasted day adds to the cost of the project. A change in completion date also affects the profitability of the project. This is why investing in professional risk management services is important prior to commencing a construction project.

At Measure Manage, we offer risk management expertise for any type of construction project. We understand the evolving risk profiles of a construction project, as different factors come into play. This is why our services take into account all existing and potential risks that can materialize and affect the outcome of the project.

In our experience, we know that any gaps in risk management can lead to major hurdles as well as prove costly for your business. Even if you have risk protocols in place, the gaps can derail the project if the risks eventually do come to bear. Our experienced team of qualified risk experts understands the areas which can contribute to losses. They can also spot potential exposures which can affect the success of your project.

We will provide you a list of recommendations and a report outlining each and every area where your construction project can be exposed to a risk. We work closely with our clients, offering risk management advice at each step of the way. We enable businesses to qualify for the necessary insurance coverage to ensure your financial risk is minimized to the maximum possible extent. Our services are flexible and tailored to meet the needs of each client.

We have a defined set of risk factors which we use for assessing the level of exposure and control. Depending on the type of project you have undertaken, we will consider each factor and provide an analysis you can rely on to mitigate potential risks. We can work with you to put risk management measures in place which you can carry over to future projects as well. This will equip you with the expertise and knowledge required to keep risk to a minimum when embarking on a new project.

To learn more about our risk management services, get in touch with us and discuss your project.


Frequently Asked Questions (FAQS)

A risk is the likelihood that a hazard will happen which could have a detrimental effect on a project. For example in construction, the riskthat a project will be delayed by bad weather (the hazard) is five days. The effect of a five day delay is that the work will not be finished on time.
A risk assessment is when someone takes all the hazards associated with a project and assesses the likelihood of that risk occurring, and the impact that that risk will have on a project. There may be dozens of hazards on any particular project and they should all be treated as potential problems.
Risk management is implementing the risk assessments and set out to manage the hazards so that they do not occur, or minimise their impact. For instance, if bad weather delays a project it may be required to do additional night work, or weekend work, to minimise the delay impact to the project.
To do a risk assessment of a project depends on the levels of complexity and the size of the project. Small jobs have risks that need to be managed but with larger jobs they will have more risk which can be complicated to manage. Doing a risk assessment should be carried out by experienced professionals who have dealt in the type of project before. Their knowledge and experience can flag any risks to which you may not be aware of, and to help you assess for all other risks too.