7 Critical Components of a Bulletproof Construction Risk Management Plan
Identify and assess potential risks early in the project planning phase. Engage all stakeholders, including the client, design team, contractors, and subcontractors, to comprehensively map out risks across all aspects of the construction project. Categorize risks based on their likelihood and potential impact, prioritizing those that could significantly derail the project timeline, budget, or quality.
Develop a clear risk mitigation strategy for each identified risk. Assign specific actions to be taken, resources required, and personnel responsible for implementing the mitigation measures. This may include securing additional …