A Superlative Guide on Construction Risk Management

Construction risk management involves the overall assessment and control of risks surrounding the work environment on construction projects. This spans all sites from large building assignments involving over hundreds of men to the individual contractor repairing a roof. It has become a standard procedure that all risks are looked at and covered to not only insure the safety of the individual employees. But also the safety of the company in the event an unforeseen accident occurs.

Generally speaking, there is usually one or more persons assigned the task of managing and controlling risk factors. This person must start by surveying the area to be worked on for any location hazards (e.g.water,heights, underground structures,etc.). He must then take full stock of the tools and machinery necessary to complete the task. In the event that explosives, hazardous chemicals, asbestos/mold, flammable materials, demolition equipment, large machinery, or the like is in place, the company must take note of it to correctly address the dangers involved.

Safety is the most sought after and efficient way to avoid unwanted, on-site incidents. After the initial assessment of potential health hazards. Protective gear and strictly regulated training is give to all in the appropriate areas. Other preventative measures include the handling and choice of materials. Correct use of all tools, certification for machinery, employee awareness of the dangers, active plans in case of an emergency, and complying with local laws and mandates.

In the event that an accident does occur. Companies and contractors will more than likely have an insurance plan to cover the costs of the damages. A good insurance policy is just as important to have as functioning safety program because the unexpected is always possibility. In a worst case scenario the company would be uninsured and would therefore take the chance of going bankrupt due to the cost of the damages, workers compensation, or legal fees in the event of a lawsuit. Insurance providers will usually team up with the working company to view the probability of a mishap, steps taken by the employer for safe operation, and what would happen in the event of each predictable event making a turn for the worse.

The main function of construction risk management:

  • finding ways to identify risks.
  • making strategies to manage them.
  • having a plan in case the unforeseen event occurs.
  • educating the workforce on safety topics.