What 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 lead to clashes, rework project delays, and cost overages.
Ultimately, managing and resolving project risks effectively and efficiently is good project management. That’s 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
Bailout of risks and save money.
Construction risks diminish profitability. Unforeseen costs pile up and forced expenses reduce your profit bottom line.
How can General Contractors diminish construction risk?
The key to canceling out risks:
Accurate and periodic documentation.
Project drawings and other documentation are key for GCs to make swift and smarter construction calls. Keeping the team informed from a single source of truth to store, access, and share deliverables can enhance profits and be compliant.
Reasons why field data is critical to cancel out risks.
High impact reason why field data matters.
For General Contractors, heading numerous projects can be challenging – particularly when GCs are not present on site.
Collecting onsite data or information ensures field crews track project headways
Greater visibility of critical data points in the field can support GCs with preemptive risk management through clarity and efficiency
Strong, accurate, and reliable field data helps you build.
In-depth data insights help GCs pinpoint potential problems and recalibrate projects in real-time.
Inaccurate and incomplete data can generate setbacks.
The presence of erroneous data impedes planned progress thereby elevating construction risks.
Erroneous data can create greater risk possibilities, including:
- Onsite safety hazards
- Inaccurate schedules and budget
- Inability to meet client requirements
- Risk-centric costs
How can General Contractors achieve accurate and periodic field data?
Jobsites are complex and challenging. Traditional paper-based processes and tools can be inaccurate, incomplete, or can be misplaced as there is a myriad of people and activities taking place onsite.
The existence of field data cannot be delayed as risks always exist.
So, how can General Contractors make sure, they get accurate and updated field data?
Construction Mangement Apps.
How construction management apps can impede field risks.
How do construction management apps deliver a high impact for General Contractors?
Field documentation software or apps make it swift to garner customized graphical reports from the field.
Giving field teams a simple, yet powerful tool can drive effective field documentation to meet planned timelines.
Quick field insights reduce onsite risks.
Periodic rough in pictures | Document As-Built locations to identify and manage critical issues | Side–by–comparison of 360 images and 2D drawings.
What kind of data can be tracked with construction management apps?
- Accurate and complete graphical reports
- Equipment and material tracking
- Onsite safety checklists
- Side by side analysis and progress over multiple locations
- Rough-in pictures before close-out
- Documenting As-Built conditions
- O and M integration
- Linking submittals to 360 images
- Weekly progress pictures and comparison with the BIM model to accurately bill and schedule
How do apps reduce field risks?
- Constant update of accurate and real-time data from the field from mobile devices
- Back-office teams achieve real-time data and insights to enhance productivity
- Other stakeholders automatically leverage progress updates
Greater accuracy in project data.
With construction apps, back-office teams become swifter and standardized. Accurate and reliable documentation helps reduce the possibility of lawsuits.
Enhanced visibility and improved project confidence.
Apart from the existing team, construction management apps support preemptive data sharing with stakeholders and clients. With a highly visual proof of project progress, clients can reduce field risks through quick and timely updates.
To wrap it up:
Construction management apps diminish field risks from a wide-ranging perspective.
Data from the field to the back-office with construction management apps represent a bigger picture with tools to handle risks effectively.
What apps should you consider?
Connecting field crews with traditional workflows can draw in serious challenges. But, it needs to be simple, for general contractors to latch onto – meaning you leverage precise field data, when you need it, and wherever you need it.
That’s why GCs should latch onto field-centric CM apps from iFieldSmart.
Enhance Risk Management with iFieldSmart Technologies.
Organize construction drawings.
Store, access, and organize updated project drawings for specific trades in a single location. Use productive annotation tools to highlight critical points. Export as PDF or take a quick screenshot to collaborate with various teams. Visualize 2D versions of your 3D model on iOS and Android with file versioning and integrations with iFCloud.
Manage jobsite documentation.
Dynamic field coordination and project management collaboration with complete jobsite documentation. Influence cloud-based tools to create and track digitized RFIs and submittals. Generate field documentation reports in real-time to improve project risk management. Verify images by recording markups as As-Builts.
Lens 360 Tracking and Predictions.
Set yourself better on jobsites by connecting designers, general contractors, and multiple field crews. Cancel out “what if” scenarios with data-enriched insights through 360 field documentation and predictions.
Enhance productivity through diminished email outbursts.
Quick collaboration and sharing.
Drive productive conversations with real-time collaboration through cloud storage and video-conferencing to boost jobsite governance and judgment in real-time.
Task management, Inbox, and Timeliners.
Quickly assign project tasks to multiple teams with detailed timesheets. Leverage an intuitive inbox to assign messages to specific people and trades. Use timeliner capabilities to schedule tasks and generate real-time reports for various tasks from start to finish.
Accurate and deep Analytics.
Take charge of your project with critical analytics on clash management, viewpoints, open and closed RFIs, and more. Leverage trade and level-wise data to track team and project performance.
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 job-site 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.
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!