One of the most important steps in the risk management process is establishing a documentation system. In this video, explore the methods of documenting and communicating risk to the construction project team member. Also, learn how to leverage the transformation to digital work flows and improve documentation and communication.
- A critical step in establishing … an effective risk management system … is the establishment of an effective documentation system. … If your project estimators … are involved in the risk management process, … as they should be, … and they're identifying and accessing project-specific risks … and decisions are being made as to how to handle that risk, … what good does it do if none of that information makes it … into the hands of project management team … once the project starts? … They'll be left to either repeat the process on their own, … or to make assumptions that may or may not … turn out to be true. … This is poor risk management. … You have to have a way to document the assessments … and the decisions in order to follow through. … Decisions on scope that were made during the bidding process … have to be documented so that … these make it into the contract later, … otherwise, you're likely going to end up taking on the risk … because you were not aware of the assessment … and the plan for handling it. …
- Defining risk
- Identifying the role of the construction manager
- Analyzing risk
- Controlling risk
- Managing challenges: scope, safety, communication, and more