is Risk Management for GCs?

The construction industry faces a myriad of risks from onsite hazards to working in an uncontrolled environment, adding subcontractors, or managing multiple job sites; general contractors face numerable challenges that could What lead to clashes, rework project delays, and cost overages.

Ultimately, managing and resolving project risks effectively and efficiently is good project management. Thats why it is crucial to accurately pinpoint where risks originate and the tools to resolve them.

Unavoidable construction risks.

Technical ambiguities
Cost overages
Onsite safety
Legal complications

Technical Issues.

Microscopic modifications, changes, updates, etc. can derail complex and large-scale projects. Projects that can go out of control for GCs if not resolved in a timely behavior.

Exemplar technical issues.

Schedule overages
Design ambiguities
Frequent changes in project scope
Labor and Material shortages

Cost overages.

Multiple factors can influence the project budget. Projects hit by cost overages create a negative impact on general contracting companies leading to lower profitability and business loss.

Exemplar Cost issues.

Time and payment setbacks
Equipment or maintenance costs
Design alterations
Inspection needs
Labor insufficiency
Greater inflation
Supply chain issues
Assessment needs

Onsite safety.

Keeping onsite personnel and adjacent individuals safe is of utmost importance during actual construction. Having an effective and efficient Experience Modification Rate (EMR) can control risks and promote safety. This reduces insurance costs.

Exemplar Safety issues.

Labor mishaps
Uncontrolled working conditions
Elevated insurance prices

Legal complications.

Legal complications can derail or even close down general contracting businesses. Ergo, compliance and contract commitments need to be fulfilled.

Exemplar Legal issues.

Client disagreements
Subcontractor and stakeholder problems
Compliance breach

Lens 360 Visualize the present and what needs to be perceived further.

Draw actionable intuition.

Side-by-side visual comparisons support teams to understand jobsite progress over a specific location and time.

Promote risk management.

Enhance As-Built documentation before a close-out to manage critical issues with periodic rough-in pictures.

Drive Operations and Management.

Link pictures to submittals for O and M integration. Quick download project manuals and preserve jobsite history with 360 photo documentation.

Realistic Progress Tracking.

Compare 3D BIM models with pictures and drawings to monitor project progress and produce accurate scheduling and billing.

Conclusion.

Present-day, complex, and fast-track projects require smart construction management apps to reduce construction risks, save time, and costs. Construction management apps from iFieldSmart Technologies provide best-in-class, end-to-end solutions for general contractors to garner positive project outcomes and enhance their ROI. Schedule a product demo with our team to utilize iFieldSmart apps now!

Visit us: - www.bimengus.com