“Risk management is a key step in maintaining our profitable construction business.”

Are you managing your risks in each phase of the project?

1. What is Risk Management
   1. Planning for the what-ifs – having a back-up plan
   2. Looking at a project to determine what could go wrong
   3. Recognizing the important things to watch and plan for
2. Each phase has different concerns
   1. In the beginning –  who, where, when, project type, etc. we need to look at
   2. During estimating there are other things to be concerned about
   3. While building the project we have a whole new set of concerns
   4. Some concerns may have been the same – like working in a new geography
3. Analysis & Planning
   1. This is what RM is – analysis & planning
   2. Review you projects at each step, determine top risks and plan for them
   3. Track & review

Recognizing the importance of risk management will help us keep our projects profitable.

Take-Action Items:

1. Develop a Risk Management Plan/Procedure – if you don’t have one

2. Start mapping risks at each phase of your projects

3. Track and monitor your risk plans