You’re in construction management and you want to up your risk management game. What’s the best way to do it?

One must understand their business, some inherent risks are obvious and always there to decide to do business or not. The risks for which alternate options are available, one should identify and decide his course of action.

Most large scale projects have well developed tendered risk profiles. However once the project enters initiation phase the risk tends to focus on bottom line performance but without the correct risk allocation to lowest cost options. The team tends to want to satisfy corporate bottom line profit improvement strategies without due regard to risk. As senior managers we need to ensure that in the pursuit of profit we don't unnecessarily expose further risk to the project so risk management is on going and should be more rigorous to obtain best for project outcomes.

If you "know" your risk in construction then you must have experienced them previously and know how to deal with them. It's when you "don't know what is on the other side of the hill" (Napoleon?) that you need to use your intuition and management skills to deal effectively with the unexpected risk. Above all DON'T PANIC. Review the problem, weigh up all possible alternative solutions, prepare a Pros v Cons list, choose wisely. Then execute your decision.

The Hazard register has to be a continuous process. New hazards are introduced and others are eliminated. Control measures may also change as technologies and continuous improvement initiatives take effect. They should be referred to during incident/accident investigations to determine if any new hazards that may not have been listed are now included and to strengthen existing controls if they were identified as a factor.

We can create a Risk Scorecard with set of parameters defined in categories such as legal, compliance, financial, social,safety, political, functional etc. aligned to different stages of project life cycle. Then the score can be used to have priorities and mitigation plans.

To enhance risk management in construction management: > Assess risks comprehensively. > Maintain a detailed risk register. > Regularly review and update risk assessments. > Implement proactive mitigation strategies. > Develop contingency plans. > Foster open communication among stakeholders. > Provide risk management training. > Utilize technology for streamlined processes. > Conduct post-project reviews for lessons learned. > Consider external expertise for specialized insights.

-risks can be classified by impact and probability to happen -risks are changing constantly during construction phase - review them at least monthly

It's a common observation that risk registers, often created during the feasibility study phase to meet the requirements for a Quantitative Risk Assessment (QRA), are not given the continuous attention they deserve. Typically, these registers are revisited only in moments of crisis, underscoring a reactive rather than proactive approach to risk management. Effective risk management demands an ongoing process that includes forward-looking assessments. Integrating risk evaluation into regular schedule reviews and incorporating it into design and constructability assessments allows for the identification and mitigation of potential new risks.

Remember to re-assess risks regularly throughout the project - construction is a dynamic environment and risk profiles will change, and new ones arise

To enhance your risk management game in construction management, here are three key plans you can implement: 1.Risk Identification Plan: Identify potential risks in your projects. 2.Risk Mitigation Plan: Develop strategies to minimize risks. 3.Risk Monitoring Plan: Continuously monitor and evaluate risks throughout the project. By implementing these three plans effectively, you can proactively manage risks in your construction projects and enhance overall project success.

In the risk management plan, it is important to include each risk's rating based on severity and likelihood in order to prioritize your efforts. Let us remember this plan is a live document that needs to be updated and followed up in a periodic basis with preventive and mitigation actions and responsible people.

Risk management plan in a construction site is a comprehensive strategy designed to identify, assess, prioritize, and mitigate potential risks and hazards that may arise during a construction project. The purpose of the plan is to proactively minimize the impact of risks on the project. The key components risk management plan for the construction site: 1. Risk Identification 2. Risk Assessment 3. Risk Mitigation Strategies 4. Risk Monitoring and Control 5. Contingency Planning 6.Communication and Documentation 7.Training and Education 8. Review and Improvement By implementing a well-defined risk management plan in construction projects can minimize the occurrence of accidents, injuries, delays, cost overruns, and other potential problems.

The eight most important ways to manage risks in construction 1. Engage in risk and vulnerability assessments 2. Identify weaknesses and priorities 3. Plan ahead 4. Invest in appropriate countermeasures, mitigation strategies and response solutions 5. Invest in a third-party regulatory conformity assessment 6. Providing appropriate training 7. Engage in frequent testing 8. Invest in commissioning

Communication + accountability = Reliability. Ownership and understanding/implementing correct risk strategies thru collaboration.

For risk management to work effectively you need to decide who has the better information and experience to make the decision to avoid, reduce, transfer or accept. This also will be based on the severity of the risk and any governance requirements your business has.

La gestión de riesgos tiene como objetivo proteger a la organización de posibles perdidas o amenazas, para esto es importante un plan de gestión para mitigarlos. La prevención y reducción se producen cuando se adopta medidas o métodos para reducir el impacto de un riesgo.

A construction site's risk management plan is a detailed strategy aimed at recognizing, evaluating, prioritizing, and addressing potential risks and dangers throughout a construction endeavor. This plan is devised to preemptively reduce the impact of risks on the project. The essential elements of a construction site's risk management plan include risk identification, assessment, mitigation strategies, monitoring and control, contingency planning, communication and documentation, training and education, and review and improvement. Implementing a robust risk management plan in construction projects can decrease the likelihood of accidents, injuries, delays, budget overruns, and other issues.

La gestion de ces risques dépendra de leur gravité et occurence et de vos priorités stratégiques. Que devez vous maintenir ou sauver à tout prix? Quelle est votre urgence absolue? Ensuite vous définirez la stratégie à adopter: moyens, solutions et options envisageables, avec leurs bénéfices et leurs désavantages.

It is very crucial to have proven system and process in place for monitoring and controlling. Definitely helpful to review, update and communicate your plan which you prepared before start of project. This plan should be specific based on deep analyzes.

Risk management often misses out on keeping a close eye on things, especially when projects seem to be going well. But changes in the project's goals, along with quick shifts in costs and available resources, make it really important to always be alert. Using technology, like AI, is changing the game by helping spot trends and handle risks better. By taking advantage of these tech tools, we can stay ahead of problems, including those from changing project goals, making sure projects can keep moving forward smoothly, even when unexpected changes and challenges pop up. This careful watching and acting is key to keeping projects on track in a world that's always changing.

Risk management is an ongoing and systematic process during the complete duration of the considered phase of the project life cycle. Monitoring and control must include the continuous (periodic and systematic) review of the risks. Have new risks appeared? What has changed in the existing ones? Have some risks reached an end? Have some risks happened, converting themselves in issues? What´s the status of the implementation and how it compares to the planned? As a result of this monitoring actions could arise to improve risk performance. All results are to be recorded and reports prepared and distributed to the right people.

As a project manager, it is crucial to keep a close eye on the progress of your project and identify any potential risks that may derail your project. You must carefully monitor the project's performance and ensure it aligns with its objectives. In case of any risks, you should proactively identify and execute strategies to mitigate them and prevent them from escalating. By doing so, you can ensure that your project stays on track and delivers the expected outcomes within the set timeframe and budget.

You are correct that “risk management is not a one-time activity, but an ongoing process”. In fact, I would go further and say that true risk management is a culture, an ethos. In a high risk industry such as construction it should be embedded in and fundamental to everything that you do. Your operating procedures and processes should be written with risk management at their core. The biggest cause of failure and underperformance in construction companies is failing to properly understand, embrace, and focus on risk management. Those that do, when coupled with technical competence and commercial acumen, are those that are successful.

A good practice is to plan short cycles of activities (e.g., 2 weeks) and strive to analyze and monitor risks for future activity cycles, checking for any impediments ahead, prerequisites for activity execution, etc. In this way, the aim is always to anticipate and address problems that could arise during activity execution. It is important to maintain effective communication with the involved stakeholders to identify risks and action plans accordingly.

Monitor and control takes resources. Failure to analyse the results of monitoring is failing to monitor. Failing to act on the analysis is failure to control. Skipping on the analysis is a common error that can lead to death in construction projects.

Contingency plans should be devised for high-impact risks, and performance measured using defined KPIs. Regular reviews capture lessons learned, while training opportunities enhance team members' proficiency in risk management principles and tools. Through these measures, construction managers can fortify their risk management practices, adeptly anticipating, mitigating, and responding to risks throughout the project lifecycle.

Utilizing technology and software tools can also help streamline the risk management process and make it easier to track and monitor potential risks. There are many construction-specific risk management tools available that can help identify, assess, and mitigate risks more effectively.

Our team engages in weekly scorecard reports for every active project, to monitor and control risks. This practice allows us to actively engage with key risk factors like schedule and budget with the frequency required to course correct with minimal impact.

By streamlining operations with technology, we’ve evolved our business with real data and analytics. The best way we know to manage risk, is to plan ahead. Pre-construction planning, scheduling and budgeting is not just about mapping out finishes or milestones, it includes solid R&D on the project, possible scenarios, outcomes and opportunities for failures. Good project managers know that technology is a good tool for record keeping and centralised communications. Regular review and reporting is equally important when considering potential project risks, often an opportunity to fix the problem before it’s a problem in the first place.

One thing I have found helpful, is the use of Primavera Risk Analysis tool in which a risk model is reviewed in a Risk Analysis meeting in the presence of Risk specialist. It shows the criticality index of activites and deterministic completion date along with a dynamic risk register which is mapped on scheduled activities. It adds clarity to risk management and mitigation steps are discussed, approved and implemented to keep the project on track.

Steps for utilizing technology for risk management by enabling real-time monitoring of project progress, tracking of material and equipment deliveries, and identification of potential delays. Building Information Modeling (BIM) software facilitates accurate project visualization and clash detection, reducing design errors and rework risks. Drones and sensors enhance safety inspections and data collection, mitigating on-site hazards. Project management software streamlines communication, resource allocation, and schedule adherence, promoting efficiency and transparency. Overall, technology enhances risk identification, assessment, and response in construction projects, leading to improved outcomes and stakeholder satisfaction.

La Gestión del control en el cumplimiento de los requerimientos para mitigar los riesgos en el trabajo se ve potenciada a través del uso de herramientas digitales. El uso de planillas digitales de auditoría agiliza el relevamiento, el control y el seguimiento en el cumplimiento de normas de seguridad en el trabajo. Control management in compliance with requirements to mitigate daily work risks is enhanced through the use of digital tools. The use of digital audit forms improves the survey, the control and monitoring of safety standards workplace compliance.

In today's construction landscape, managing risk effectively is paramount. The good news is, technology offers a powerful toolbox to elevate your risk management game. By leveraging software and applications, you can: Consolidate data: Ditch the spreadsheets! Software can collect, store, and analyze risk data from various sources, providing a holistic view of potential issues. Automate processes: Streamline repetitive tasks like risk identification and mitigation planning, freeing up valuable time for strategic decision-making. Visualize risks: Translate complex data into clear, actionable insights. Heat maps, simulations, and other visual tools can pinpoint areas of high risk and guide mitigation strategies.

Do not rely on software results but always factor in personal experience and trusted colleagues. Software tends to generalise and isolate. In reality it us the combinstion of factors that count most

Mejorar la gestión de riesgos en proyectos de construcción mediante tecnología implica utilizar herramientas digitales para identificar, evaluar y mitigar riesgos de manera más eficiente. Esto incluye el uso de software de gestión de proyectos, cómo el modelado de información de construcción (BIM) para visualizar y prever problemas en la construcción virtual, y análisis de datos para tomar decisiones informadas. En resumen, la tecnología ayuda a aumentar la visibilidad y la capacidad de respuesta ante los riesgos en la construcción.

La technologie vous permet de piloter votre réponse. Une prise en main extérieure de vos installation peut être opérée avec les applications de GTB par exemple. Pour ce qui est des risques, vous pourrez ainsi naviguer depuis plusieurs sites au sein de votre structure. Les cartographies, les drones, les caméras embarquées permet de minimiser les engagements humains quand les situations sont très complexes et dangereuses.

Risk identification should take place during the projects pre-construction phase to allow for time to manage any potential risks before accepting them. An effective way to analyze risks is to hold brainstorming sessions with your project team and stakeholders.

Lessons learned and continuous improvement plays a pivotal role in upping your risk management game. Conduct post-project reviews and lessons learned sessions to evaluate the effectiveness of risk management strategies implemented during the project and identify areas of improvement to be considered on the next project.

In my perspective, learning and improving through is one of the best ways to enhance your risk management skills. With each passing day, due to swift changes in the landscapes of science and technology, we are witnessing innovation in tools, techniques, and methods in a fast pace. This demands to us to remain updated of these new progresses going on around us. Moreover, other ways to improve risk management skills include brainstorming with experienced individuals, reading, and practicing your knowledge in real world project.

A continual missed opportunity within the construction industry is not undertaking effective lessons learned exercises, if undertaking them at all. It is often said that “the definition of insanity is repeating the same actions and expecting different outcomes”, and yet, all too often, this is the reality of the construction industry. Slow to learn, even slower to evolve and change. One of the most effective ways to improve your risk management, is to learn the lessons of the outcomes of previous risks and of those risks that you didn’t even identify beforehand.

Continuously evaluate and learn from your risk management experiences. Conduct post-project reviews to assess the effectiveness of your risk management strategies and identify areas for improvement. Incorporate lessons learned into future projects to refine your risk management approach continually.

1.Case studies on Risk management will help a lot . 2.Abreast urself on modern trends of Risk management to cater for , with current and upcoming challenges .

Estoy de acuerdo con asistir a cursos de capacitación, talleres, conferencias, etc., e intercambiar experiencias, así mismo creo que es importante involucrar a los departamentos relacionados del equipo, con el fin de identificar los posibles riesgos y llevar un registro, como la posibilidad que se produzca, su impacto y/o gravedad, y quien sería el responsable.

The problem with relying on learning from past faults is that in the mean time how many people are you likely to kill? It would be better to employ someone who already has the knowledge and experience and train the others to his/her standards or above. For a wider and more beneficial project that will benefit the whole industry, the I recommend using the "Train the Trainer" method of teaching, and if need be, make it compulsory for businesses to contribute one way or another. Nothing is a substitute for training all those in the industry. Learning from your mistakes is not an option.

As risk management is an ongoing process, learning and improving will be also an ongoing task. I would say that it is impossible to create and implement a risk management scheme that works perfectly at the first attempt. Also due to the dynamic nature of most projects, considering the many factors that are affecting them all the time, risk management will (or should) evolve as the project goes on. Of course at the end of a main phase of the project, a review has to be done, all lessons learned collected, analyzed, put together for future use along with recommendations.

Involve subject matter experts Expert judgment, gleaning from seasoned professionals or consultants is an indispensable area to be overlooked. These experts offer invaluable insights into identifying, analyzing, and mitigating risks. Drawing from their wealth of experience will help the upcoming construction managers to make sound decisions when they are faced with similar situations. Expert judgment bridges theoretical frameworks with practical applications, enabling informed decision-making and proactive risk mitigation.

Stakeholder involvement: Engage stakeholders, including clients, contractors, and subcontractors, in the risk management process. Their input and perspective can help identify additional risks and improve the effectiveness of risk mitigation efforts. Regulatory compliance: Stay informed about relevant regulations and ensure that your risk management practices align with legal requirements. Non-compliance can lead to costly penalties and delays. Insurance coverage: Review your insurance policies to ensure adequate coverage for potential construction risks. Work with your insurance provider to tailor policies to the specific needs of your projects.

A risk may or may not happen in the future but when a risk is realized it becomes an issue. Issues have to be immediately mitigated and closely monitored so as to reduce the negative impact. Issues which are always negative need to be communicated to all stakeholders to find amicable solutions in a timely manner.

There are some constraints getting identified during the lookahead planning or production plans. If these constraints doesn’t get resolved on time, they might convert into risks. Hence, identifying constraints during lookahead planning and developing a constraints log, which need to be tracked on daily basis during daily huddles for resolutions / actions taken.

En ADIF, tanto en proyectos de Instalaciones de Seguridad y comunicaciones, como en el montaje de infraestructura, vía y energía, se aplica el Método Común de Seguridad Europeo, MCS 402. En donde mediante varios documentos, y un Excel de registro de peligros y sus mitigaciones, y un equipo evaluador, se revisa que los procedimientos, antes, durante y en la puesta en servicio, se tiene control sobre los posibles riesgos hasta el día de autos, cuando se pone en servicio.

Have a solid plan in place before starting the project. Which includes identifying potential risks and developing ways to mitigate them. Another strategy is to regularly communicate and collaborate with your team to ensure everyone is aware of the risks and knows how to handle them. Furthermore , it's crucial to stay updated on industry regulations and standards to ensure compliance and minimize risks. Never forget, safety first!

Know your business, do not over extend your area of expertise. In addition be systematic in your aporoach. Many accidents occur due sometimes not realising that the best plans need to be contiuously updated and peer rewiewed. Standard lists are not always appropriate for the particular circumstances.

I couldn’t agree no more from the lists and others sharing. You can plan and get onto it. However ONE very important from my perspective should be: 1. Budget (Money $$$) - how much are you willing to spend to “up the Risk Management game”

Understand the deliverables Buy right Develop clean Scope and responsibility matrices. Spend time planning rather than just getting the job done.

Personally I feel that, although the company needs to be protected and that’s the purpose of risk management, I find it can tend to move away from what’s important. That being the safety of the employees. Once they begin to perceive that the Safety Program is all about the ability to shift the blame from the employer to the employee the program is destined to fail. I’ve learned that a company can have a Safety Culture of “Us against them” or “We can all work together for the benefit of each of us.”. Most of the time it’s the processes that are put in place for the purpose of Risk Management that determines the direction of the culture. Just a thought from an old fella with 20 yrs working with my tools and then the last 25 yrs in safety..