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3/25/24, 2:31 PM Managing technical risk in construction - Construction Week Online
just in the Middle East and North Africa, as faster and clearer visibility (and
consequently better decision making) is the element that can make the difference
between a construction business that’s flying high and one that’s stuck in delay,
disputes and reputation-damaging incidents.

Other direct benefits of adopting a construction management platform include:

Higher quality work: Quality is the cornerstone of client satisfaction and referrals.
Proactive risk management allows firms to detect errors and technical issues during
pre-construction, ensuring they don’t become bigger problems through dissatisfaction
or potential significant rework. By analysing data from previous successes and failures,
project managers and head contractors can gain insights that inform better real-time
decision-making.

Risk visibility: identify risks early and take actions to mitigate them.

Continuous learning and improvement: learning from data and hard evidence
ensures that the end product delivered to clients is of the highest standard, fostering
trust and long-term relationships. Upskilling and skill building leads to better retention
of your most valued staff, too.

Building Information Modelling (BIM) through Procore: provides all
architects, engineers and contractors with simultaneous access to 2D and 3D
renderings of the job site and associated data.

Increased efficiency: across the board, from resource deployment to decision
making, reporting, monitoring and access to documents and information. As the
administration burden lessens, efficiency increases.

Analytics: can give clear visibility of a project’s cash flow position, or flag workforce
needs so that project managers and head contractors can identify upcoming gaps in
labour and skills, keeping projects on track.

Identifying technical risks and mitigation strategies

Successful construction businesses tend to develop their own risk management
processes over time, but there is no shortage of established examples from other
industries and disciplines to look at. NASA, for example, a pioneer in risk management,
highlights three crucial components for proper risk identification: scenarios, their
likelihood and their consequences — from minor delays to full blown catastrophes.
During pre-construction, an assessment matrix can be invaluable for head contractors
and project managers to ensure that designs, estimates and budgets are robust and free
from potential pitfalls.

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