Every project manager wants to reduce..

Every project manager wants to reduce ‘management by crisis’, overtime costs for employees and contractors, and late nights at the office. —– Risk management allows you to minimize the number and impact of these surprises. A comprehensive risk management plan allows you to improve your construction processes and thereby gain a competitive advantage. It increases the probability of project success, most importantly profitability.
What are the potential impacts of not having a Risk Management Plan and Process in place? Consider the
Cost of not meeting a commitment
Embarrassment to the company and loss of good will in the marketplace due to not meeting a commitment
The appearance of not knowing what you are doing to a customer. This can decrease the customer’s trust in you and create openings for your competition.
On the other hand, the positive impact of effective risk management is
increased profitability
less overtime
fewer deficiencies and
a competitive advantage.
Risk Management is a tool to prevent problems from occurring or escalating and facilitates a focus on the right results the first time.

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