Risky Business: Why Construction Management is Risk Management
Kristopher Lengieza
Vice President @ Procore Technologies | Construction Technology Evangelist, Partnerships Leader, Digital Transformation Facilitator
Since joining the construction industry 15 years ago as a project engineer, I’ve seen incredible innovations improving all aspects of running a jobsite, from preconstruction to punch lists and everything in between.?
Early in my career, performing punch lists required walking a job with a superintendent who would point something out, take a picture, write it down, and later compare it with the design and so on. This process was manualerror prone and highly inefficient. Today, construction management technology can predict what is going to go awry, preventing punch list items before they become issues.
With more than 2.5 trillion square feet of US commercial construction and infrastructure needing to be built over the next 40 years, it’s imperative to harness the power of data and industry insights that comes from the last 20 plus years of innovating. Construction is an inherently complex and dangerous industry that is ready to shift to making decisions based on data.?
Today, we are witnessing the industry making the most out of its data and insights to enhance fundamental functions such as scheduling, budgeting, and materials delivery. Most tech-enabled companies are leveraging their risk data to win more projects, as owners and developers now perceive them to yield superior project outcomes based on their ability to reduce risk on a project.?
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A great example of the effective use of risk data can be seen in how companies are strategically managing their insurance programs. Yet, the traditional insurance underwriting process often overlooks crucial risk data that showcases a contractor's operational excellence, which is demonstrated by the proper adoption of technology. We are changing that with Procore Risk Advisors by ensuring that tech-enabled contractors are recognized and rewarded with the insurance terms they’ve earned.
I often chat with other industry pros about how construction typically plays defense. Always reacting to the risk. In today's world, technology is allowing contractors to play offense and think about mitigating risk in a whole new way. By leveraging data and analytics to manage construction jobs, teams can run projects smarter, safer, and more efficiently.
To learn more, watch the webinar on Construction Insurance Reimagined on-demand.
Procore Risk Advisors (PRA) is a brand of Procore Insurance Services, Inc. Surety and insurance products provided by Procore Insurance Services, Inc., 221 W 6th Street, Suite 1800, Austin, TX 78701. Licensing Information
Senior Sales Director, Owners at SmartPM
1 年All great points Kris! We find that risk management is now more than ever a priority for project teams. The teams need to apply best practices and also the right tools to gain the visibility into these risk issues. At SmartPM Technologies, Inc. we feel strongly that the construction schedule is one of the most powerful data sets and if utilized correctly, can mitigate risk and promote better project outcomes.
Large Scale Infrastructure - Project oversight, management, and delivery
1 年Very true Kris. In fact, effective Risk Management is more critical today than ever. Recognizing the key categories and managing through each phase of the project is paramount.
Chief Compliance Engineer | Ensuring Mission Success through Compliance | Lean Compliance
1 年Every endeavour happens in the presence of uncertainty. To succeed we need to adjust our plans to improve the probability of the outcomes we want and reduce the probability of the outcomes we don't want.