{"id":217965,"date":"2021-02-22T14:00:00","date_gmt":"2021-02-22T12:00:00","guid":{"rendered":"https:\/\/production.defectradar.com\/builders-risk\/"},"modified":"2023-01-19T04:40:34","modified_gmt":"2023-01-19T02:40:34","slug":"builders-risk","status":"publish","type":"post","link":"https:\/\/www.planradar.com\/au\/builders-risk\/","title":{"rendered":"7 major risks in construction projects and how to avoid them"},"content":{"rendered":"
There are few industries that face the same variety of risks as construction. A risk is any plausible event that would derail your plans. And accounting for every possible risk in construction projects is very challenging indeed.<\/p>\n
If we compare construction to other industries, it quickly becomes clear why risk management is so much more complex for builders. Other sectors also deal with fairly stable or predictable risks. For example, the biggest threats to a manufacturer\u2019s projects are supply shortages or labour problems. Meanwhile, agriculture\u2019s biggest worries are the weather and pests.<\/p>\n<\/div>\n
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But building is, by its nature, much more unpredictable. Every project is entirely unique. Construction involves large numbers of independent companies working together. And project managers must deal with all the supply, weather and labour issues that other industries face too.<\/p>\n
The best way of minimising risk in construction projects is to be fully prepared for everything that could go wrong. Let\u2019s learn more about managing risk in the construction industry.<\/p>\n
An in-depth academic study<\/a> of risks in construction projects identified seven key areas where building projects can be significantly derailed. The study\u2019s authors then interviewed 40 contractors to find out how they perceived each risk.<\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n <\/p>\n The study showed that from the twenty factors described above, design errors and design process delays were the most frequently mentioned risk factors. Respondents also believed that these risk events were most responsible for the poor quality of work, delays and associated losses.<\/p>\n Health and safety risks: <\/strong>How software helps<\/a><\/p>\n Every project manager knows that construction work involves high levels of uncertainty. However, when time is tight, conducting an exhaustive risk assessment may not always seem like the best use of resources. Furthermore, studies<\/a> highlight the following benefits of analysing risk in construction projects:<\/p>\n Fire risk reporting: <\/strong>5 steps for a fire risk assessment<\/a><\/p>\n Research<\/a> into construction project risk shows it can be successfully managed using the following four-step process:<\/p>\n <\/p>\n To use this framework, it\u2019s especially valuable for the project manager to organise meetings with stakeholders (the architect, owner, contractors and sub-contractors) to define all the risks facing this project in particular.<\/p>\n Certain risks will face all projects (e.g. unpredictable weather), yet others will be very specific to each building. For example, the architect may have designed an unusual fa\u00e7ade feature that no one has ever built before. You, therefore, need to analyse all the things that could go wrong and how they could be addressed.<\/p>\n Construction apps like PlanRadar can support your approach to building project risk management. While tools cannot predict the risks themselves, they do let you monitor them over the course of your project and help you take mitigation actions. Perhaps the biggest benefit of construction software when it comes to risk management is that it gives you more data and a faster method of communication.<\/p>\n PlanRadar supports the 4-step framework for managing construction project risk described above:<\/p>\n <\/p>\n To see how PlanRadar could specifically reduce risk in construction projects you manage, contact us<\/a> for a demo today or start your free trial<\/a>. <\/p>\n There are few industries that face the same variety of risks as construction. A risk is any plausible event that would derail your plans. And accounting for every possible risk in construction projects is very… Read more<\/a><\/p>\n","protected":false},"author":15,"featured_media":68583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4479,4158,4484],"tags":[],"type-category":[],"acf":[],"yoast_head":"\n\n
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Benefits of systematic risk analysis in construction<\/span><\/h2>\n
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A 4-step framework to manage risk in construction projects <\/span><\/h2>\n
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Technology can support construction project risk management<\/span><\/h2>\n
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