How to Reduce Risk in Construction

The construction industry is a risky one. Each project is unique with its own set of challenges. Risk can appear at any stage in the process, no matter how well prepared you are. However, the lack of risk mitigation can threaten your project’s budget, timeline, workforce, and efficiency. Finding the right contractors insurance in Riverside is also imperative before beginning any work.

How to Reduce Risk in Construction

Site Protection

Unprotected job sites can experience losses due to frozen or leaking pipes and theft or vandalism of equipment. Not all sites are equipped to have extensive security throughout the day and night, but a fenced and well-lit site is less likely to be the target of vandalism. Consider:

• Increasing lighting during off-hours
• Letting employees know that the boss is paying attention
• Scheduling supplies only as needed
• Keeping good records with documentation
• Practicing effective inventory management
• Reviewing security plans and processes
• Using theft deterrents and cameras

Environmental

There’s not much you can do about preventing natural disasters, but you can always be prepared for them. Hurricanes, tornadoes, floods, fires, and lightning storms are just some of the disasters that can happen unexpectedly. Consider the conditions of the job site since natural disasters can and do happen.

Follow these tips to be prepared for disaster:

• Create a Team
  Create a team with representatives from each department in your company, including the on-site construction team and management and administrative team. Select individuals who have different perspectives and can identify potential vulnerabilities of the business during a disaster.

• Plan Ahead
  It can be difficult to predict natural disasters accurately, as winter storms and hurricane warnings can change even at the last minute. However, planning for the worst will help you identify possible weak points and create a plan that ensures project safety and minimum damages.
  Make sure to store the materials and equipment in a safe place to minimize potential losses. Furthermore, be aware of the rules that should be followed if a plan has to be executed.

• Cascade Emergency Procedures
  Effective team communication is essential for the successful implementation of a disaster plan. Therefore, discuss and cascade the emergency plan throughout your company to keep your team informed. Consider on-site hazards and inform your respective employees about changes that might impact their safety. Also, review your company procedures with suppliers and subcontractors and prepare accordingly.

• Reevaluate the Recovery Plan Post Disaster
  After the disaster, make sure everyone in the team is safe, take immediate steps to stabilize and secure projects, and develop a back-to-work plan to schedule repairs while addressing urgent safety issues.
  After these issues have been addressed and everything becomes normal, reevaluate the recovery plan to ensure its efficiency and identify where improvements are needed.

Also read: The basics of contractors insurance

Shifting Workforce

Skilled workers may be in high demand, resulting in few options for you to choose the right contractor for the project. Because of this, some companies are moving towards using automated technology, such as robotics, to complete vertical tasks like excavation. Another way to reduce the risk of lack of skilled personnel is by implementing a resource management solution to minimize the risk of employees suddenly leaving.

We hope that these tips help you know how to reduce risk in construction. Ready to get started on the right insurance? For easy and convenient construction insurance services near you, contact the experts at Artisan Insurance Solutions. We are ready to get you the coverage that you need today.