Top 8 Technologies for Construction Risk Management

Any business comes with its fair share of risks, but controlling risks in construction is at a different level. The reason being, there’s a myriad of variables at play for an AEC firm that requires perpetual management. Failure to evaluate, control, and mitigate risks creates serious complications.

But, a comprehensive risk management strategy integrated with modern technology provides AEC stakeholders the opportunity to achieve positive outcomes and high-quality deliverables. iFieldSmart Technologies & BIM Engineering US., L.L.C. delivers a gamut of tools & services for Construction Risk Management.

What are the types of risks that need to be managed in the construction industry?

Design Improper management of design changes can lead to extensive rework or time overruns.

Labor Labor-related issues are a big challenge in the AEC industry. The shortage of skilled workers can lead to quality and productivity issues.

Logistical

Delivering projects on-time and on-budget, but there are scheduling, procurement, and communication issues. These can hamper a project's efficiency and effectiveness on site.

Financial

Money is one of the biggest factors in construction. Various elements that include material costs, market fluctuations, and cash flows play a significant role between profits and losses. Project stakeholders need to be vigilant about monitoring risks on a perpetual basis.

Environmental

When it comes to threats, various environmental factors can compromise onsite construction. These conditions need to be analyzed and monitored for safety issues.

Technology is consistent, and that’s one way to manage a myriad of risks in construction

The ease of use and costs are two factors that influence a project stakeholder's decision on adopting the technology. Yet, when it comes to Construction Risk Management on worksites and proposals, stakeholders need to invest some money, to earn money. The benefits of technology outweigh the cons, but you need to make sure it’s the right kind of technology you’re adopting for risk management. From a report by Data and Data, contractors prefer the ability to collect and analyze safety and risk data digitally, yet one-third of the contractors rely on conventional methods.

If you’re amongst the one-third still relying on manual methods, it’s time for technology migration to streamline Construction Risk Management, and enhance operations.

Here’s a look at the top 8 technologies that can help you get there.

1. Mobile technology to collect data and streamline construction

Mobile technology has the potential to streamline communication and collect data. This can significantly reduce risk as data becomes more accessible to various teams & trades. By using mobile technology, teams can access 3D models, drawings, RFI’s, and other construction documents on-the-fly. This helps the project stakeholders update any information or documents on-the-fly. This helps enable better job site accuracy and overall decision making on project sites. As a perk, mobile technology on the job site can help reduce insurance problems. This helps reduce overhead costs.

2. Cloud-based platforms to reduce onsite risk

Mobile technology is one thing, but the cloud is another. You can’t go mobile on a project, without being in the cloud. Cloud-based technologies for cloud storage, collaboration, and construction management. Cloud-based automation helps project stakeholders work on-the-fly and in real-time. Here’s a look at the benefits of cloud-based technology, and how it can reduce construction challenges.

Accessibility :Cloud technology is ideal for project teams who have a remote working strategy.

Visibility : The entire team has access to various project deliverables like models, drawings, RFI’s, and other construction documents. Teams can store, access, and share documentation as it occurs.

Security : Models, drawings, and other construction documents are kept secure in a centralized location.

3. Co-ordinated & clash-free 3D models in the field :

BIM has left a significant mark in project design, but getting 3D models to mobile devices creates a whole new set of opportunities for construction companies. With BIM software being available in the field, it becomes easy for teams to leverage information to build better. This rich information can resolve errors on the job, reduce deadlines, and handover projects on budget.

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