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risk 3There are an abundance of reasons as to why best or optimum value is not derived from projects.  These are but a few examples:-

 

  • Budget over-runs due to inaccurate forecasting or expectation
  • Contractual difficulties
  • Failure to meet timelines
  • Client is disengaged during either all or some of the phases of the project
  • Inadequate input into conceptual designs stage from necessary stakeholders
  • The project objectives are not initially or continue not to be aligned to the organisation’s objectives
  • Over-emphasis on particular aspects, e.g. architectural appearance versus operational needs
  • Project based on basic building regulations specification only
  • Inordinate attention to individual stakeholder needs and not common good
  • Simple design flaws such as slippery floors
  • Construction materials and lack of sub-division which may increase premium rates both for property and business interruption insurance
  • Lack of risk management input into process

 Solution

The CRC Consultancy team have risk management experience which extends across all three phases of projects.  In our experience we are regularly exposed to claims and losses (insurance or indirect losses) and inspection of property and facilities post construction.  We commonly see flaws in all sectors of the risk landscape.

 

The CRC consultant can help respond in the following areas of risk assessment looking at the risk management principles or RM framework

 

  • Project specific review looking at property, liability, environmental and hazard risks in general
  • Develop a risk framework, process and register engaging all stakeholders

Benefits

  • Improved insurance terms – this will be particularly so should the market harden
  • Reduction in potential hazard risk
  • Integrated approach to risk management taking account of all stakeholder views
  • Legislation compliance
  • Quality assurance
  • Operational integrity post construction phase. 

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