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3/25/24, 2:31 PM Managing technical risk in construction - Construction Week Online

The next step involves creating and implementing strategies and backup plans based on
how likely these risks are to occur. Construction firms already collect large volumes of
data, so the challenge is to analyse it using the right tools. Adopting these tools means
integrating a construction management platform with an existing ‘tech stack’, which
may already include tools for resource planning, accounting tools and cost forecasts.

Risks don’t stand still but rather evolve as projects progress, so regular monitoring is
crucial. With the right technology, behaviours and access, project managers and
contractors can coordinate effective mitigation strategies when they see risks early,
safeguarding profits, projects and reputations.

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