A construction project involves various activities that can be a potential safety hazard if not handled carefully. For instance, scaling scaffolds without proper training and safety measures can claim a life or cause damage to the property.
As a building contractor, handling a construction project is a big responsibility fraught with high risk, but knowing how to manage or eliminate the risk is the key to success.
Why is risk management important?
A precariously held scaffolding can lead to fatal accidents and invite legal trouble. Even if you think your public liability insurance will cover every damage, there’s no outlet for the stress and guilt that accompany. Failing to manage risk can also reflect negatively on your company’s reputation, and chances of you getting your next project may be reduced to none.
To start with risk management, you need to identify risk-fraught areas and put special measures to preempt any mishap. Besides, it is essential to ensure compliance with construction standards of Australia to keep legal bugs from biting you time and again.
Areas that require your attention
Call it underrated all you want, but scaffolding is one of the simplest yet crucial tools in the construction industry that facilitate tricky constructions by saving time and resources. However, one needs to be careful while erecting a scaffolding because the it is as strong as its weakest joint. To avoid any risk, rent or buy a scaffolding from one of the trusted suppliers in your area and let them set it up for you as well as take it down when the job is done. Allowing professionals to handle the scaffolding can significantly reduce the risk of a hard-fall.
Error in the Blueprint
A blueprint of a construction project is developed before it takes the brick-and-mortar form. A mistake in the design could be a wrong angle or any missing detail, but it can cost you your reputation should that error goes unnoticed, falls through the crack and replicates itself on actual construction. Therefore, it pays to go over the blueprint as many times as it takes to be sure about its accuracy and then go over it once more.
Most construction projects come to a halt due to lack of resources, be it workforce or the construction material. Falling short on resources in the middle of a construction project demonstrates incompetence and lack of planning. You do not want to come across as an incompetent builder, do you? On the other hand, excessively stocking up on resources might lead to storage issues and wastage. Therefore, the easiest way forward is to consult your mentors or peers to establish an adequate inventory for a given project.
Some construction projects may take longer than a year to complete, and between the point of start and completion, a lot of things has to go right. Such projects demand forward-thinking concerning inflation. The construction consumables and workforce can get expensive in 12 months, and your estimated cost turns out nowhere close to the actual cost incurred at the time of completion. This is one of the risks most building contractors do not factor in and end up bearing losses.
Most construction sites are vandalised due to lack of proper security measures. Construction material is expensive and losing it in theft can be a crushing blow to your profits. Therefore, it pays to hire security personnel or at least deploy CCTV cameras for 24/7 surveillance.