登录查看更多内容

How can you prioritize risks in land development projects?

由人工智能和领英社区提供技术支持

Land development projects involve transforming raw land into functional and profitable spaces for various purposes, such as residential, commercial, industrial, or recreational. However, such projects also entail many uncertainties and challenges that can affect the feasibility, budget, schedule, quality, and safety of the outcomes. Therefore, as a construction manager, you need to identify and prioritize the potential risks that can impact your land development project and plan how to mitigate or avoid them. In this article, we will discuss some of the key steps and tools that can help you prioritize risks in land development projects.

此文章中的业界达人

由社区从 7 条内容中精选。了解更多

Gouri Prasad P V V

Project Director |MSc, MBA | Fellow CMI, PMP, LEED AP, MCI Arb, MCIOB
Jordan Levey

Director - EVP Technology | Procurement & Supply Chain ????????

1 Assess the site conditions

One of the first steps to prioritize risks in land development projects is to conduct a thorough assessment of the site conditions, such as the topography, geology, hydrology, soil, vegetation, climate, and existing infrastructure. These factors can influence the design, engineering, permitting, construction, and maintenance of your project, as well as pose environmental, legal, and social risks. For example, you may encounter unstable slopes, contaminated soil, flooding hazards, endangered species, historical landmarks, or community opposition. By assessing the site conditions, you can identify the potential issues and opportunities that can affect your project objectives and scope.

添加您的观点

Johann Manuel Castro Remolina

PMP? | PMI - ACP? | PMI - Senior Scrum Master? | CAPM? | PMI -Scrum Master? | Msc. Project Management | Ingeniero Civil
举报内容
Risks in territorial development projects can be prioritized through a systematic approach that assesses both the likelihood of occurrence and the potential impact of each risk. Here’s a structured way to prioritize risks: Identify Risks: Start by identifying all possible risks that could affect the project, including environmental, social, economic, and technical risks. Assess Likelihood and Impact: For each identified risk, assess its likelihood of occurrence and its potential impact on the project objectives. This can be done through expert judgment, historical data analysis, or risk assessment tools. Categorize Risks: Use a risk matrix to categorize risks based on their likelihood and impact.

已翻译

赞
Furqan Ali

Civil Engineer Specialist at Disperse | Project Manager (Google Certified) | LinkedIn Top Voice | Bridging Gap between AI and Construction
举报内容
Prioritizing risks in land development projects involves several steps. Firstly, conduct a comprehensive risk assessment to identify potential hazards and uncertainties associated with the project, such as environmental factors, regulatory requirements, market conditions, and financial constraints. Next, categorize the identified risks based on their likelihood of occurrence and potential impact on project objectives, including timelines, budget, and stakeholder interests. Prioritize risks that pose the greatest threat to project success or have the highest probability of occurrence.

已翻译

赞

2 Identify the project risks

After assessing the site conditions, you need to identify the specific risks that can arise from the internal and external factors that can affect your project. These can include technical, operational, financial, contractual, regulatory, market, and human risks. For example, you may face design errors, equipment failures, cost overruns, delays, disputes, lawsuits, permit denials, market fluctuations, or labor shortages. To identify the project risks, you can use various techniques, such as brainstorming, checklists, interviews, surveys, SWOT analysis, or historical data. You should also involve the relevant stakeholders, such as the owner, architect, engineer, contractor, subcontractor, supplier, consultant, and regulator, in the risk identification process.

添加您的观点

Gouri Prasad P V V

Project Director |MSc, MBA | Fellow CMI, PMP, LEED AP, MCI Arb, MCIOB
举报内容
Identify the Risks, analyze them, rank them, plan risk management and review and monitor them Regularly. In addition please assess the following, if risk occurs - financial impact - Safety and Health - regulatory Compliance/legal penalties - Environmental Impact and it's potential impact - impact on the local community - impact on the project schedule

已翻译

赞
Jordan Levey

Director - EVP Technology | Procurement & Supply Chain ????????
举报内容
Evaluate the likelihood or probability of each identified risk occurring during the course of the land development project. Consider historical data, expert judgment, industry benchmarks, and project-specific factors that could influence the likelihood of each risk event. Use qualitative descriptors or quantitative probability estimates to assess risk likelihood.

已翻译

赞

3 Analyze the project risks

Once you have identified the project risks, you need to analyze them to determine their likelihood and impact on your project. This will help you prioritize the risks based on their severity and urgency. You can use qualitative or quantitative methods to analyze the project risks, depending on the availability and quality of data and information. Qualitative methods involve rating the risks using scales or matrices, such as the probability-impact matrix or the risk urgency assessment matrix. Quantitative methods involve estimating the risks using numerical values or models, such as the expected monetary value or the Monte Carlo simulation.

添加您的观点

Jordan Levey

Director - EVP Technology | Procurement & Supply Chain ????????
举报内容
Develop risk mitigation and response plans for the highest-priority risks identified through the prioritization process. This involves identifying appropriate risk management strategies, allocating resources, and implementing proactive measures to reduce the likelihood and impact of high-risk events. Assign responsibility for risk management actions to specific team members and establish monitoring mechanisms to track progress.

已翻译

赞

4 Evaluate the project risks

After analyzing the project risks, you need to evaluate them to decide which ones require further attention and action. You can use various criteria to evaluate the project risks, such as the risk appetite, tolerance, and threshold of your organization and stakeholders. Risk appetite is the amount of risk that your organization is willing to accept in pursuit of its objectives. Risk tolerance is the range of variation that your organization is willing to accept around its objectives. Risk threshold is the point at which the risk becomes unacceptable or intolerable. By evaluating the project risks, you can classify them into different categories, such as high, medium, or low priority, or accept, transfer, mitigate, or avoid strategies.

添加您的观点

5 Plan the risk responses

The final step to prioritize risks in land development projects is to plan the appropriate responses for each risk category or strategy. You should develop a risk response plan that outlines the actions, resources, responsibilities, and timelines for addressing the project risks. Additionally, you should consider the costs and benefits of each risk response and how they align with your project goals and constraints. Common risk responses for land development projects include accepting the risk and its consequences, transferring the risk to a third party, mitigating the likelihood or impact of the risk, and avoiding the risk by changing the project scope. Each of these strategies are usually applicable to certain types of risks based on their priority and impact on the project.

添加您的观点

6 Monitor and review the risk performance

The last step to prioritize risks in land development projects is to monitor and review the risk performance throughout the project lifecycle. You should track the occurrence and status of the project risks and the effectiveness and efficiency of the risk responses. You should also update the risk assessment, analysis, evaluation, and response plan as new risks emerge or existing risks change. You should use various tools and techniques to monitor and review the risk performance, such as risk registers, risk reports, risk audits, risk reviews, or key performance indicators. By monitoring and reviewing the risk performance, you can ensure that your project is on track and within your expectations and standards.

添加您的观点

Jordan Levey

Director - EVP Technology | Procurement & Supply Chain ????????
举报内容
Implement a system for continuous monitoring and review of project risks throughout the land development process. Regularly assess the status of identified risks, track changes in their likelihood and impact, and adjust risk prioritization and mitigation strategies as necessary to address evolving project conditions.

已翻译

赞

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

添加您的观点

Jordan Levey

Director - EVP Technology | Procurement & Supply Chain ????????
举报内容
Facilitate risk workshops with project team members and stakeholders to brainstorm potential risks, evaluate their likelihood and impact, and prioritize them based on consensus among participants. Use techniques such as SWOT analysis, brainstorming, and group decision-making to identify and prioritize risks collaboratively.

已翻译

赞

Construction Management

+ 关注

给文章评分

我们借助人工智能创建了此文章。您认为这篇文章怎么样？

很棒不太好

举报此文章

查看全部

How can you prioritize risks in land development projects?

1

2

3

4

5

6

7

1 Assess the site conditions

2 Identify the project risks

3 Analyze the project risks

4 Evaluate the project risks

5 Plan the risk responses

6 Monitor and review the risk performance

7 Here’s what else to consider

Construction Management

给文章评分

感谢您的反馈

更多Construction Management相关文章

更多相关阅读内容