Risk Management and Advisory in Construction
Minimising adverse impacts
CCi offers efficient and timely advice on risks across multiple industries via independent, third-party expert reviews. We are uniquely placed to support our clients across all phases of an insurable risk. The integration of our time, cost, and technical specialists allows us to offer services of increasing complexity in risk mitigation, acting as our clients’ trusted expert advisor.
Given the intricacies of Risk Management in construction, a commensurate knowledge of the technology, modern construction operations, project schedules, and cost impacts are required to mitigate risk. At CCi, our expert consultants are professionally trained to partner with our clients across all phases of the engagement to provide expert, specific, and evidence-based advice.
What is Risk Management in construction?
Risk Management in construction is a methodical approach to identifying, assessing, and addressing potential uncertainties and hazards on a project. Given the complexity of construction projects surrounding factors like weather, labour, materials, and unforeseen site conditions, the aim is to minimise the impact of these variables on project cost, schedule, and success. We work with clients to analyse risks and develop strategies to avoid, transfer, mitigate, or accept them, and implement response plans. Effective Risk Management in construction enhances predictability, reduces uncertainties, and increases the likelihood of project success.
Our Risk Management services
We offer a range of Risk Management in construction services that can assist all phases of a client’s engagement with a risk. This spans from the initial risk submission through final placement. Our construction Risk Management services are listed below:
Marine warranty surveyor scope review
Our marine warranty surveyor services involve a meticulous examination of project plans and scopes against JNRC 2023-029. This includes assessing the feasibility of proposed methodologies, analysing potential risks associated with marine activities, and providing recommendations to enhance safety and ensure compliance with the relevant regulations.
Desktop study
We undertake an analysis of project documentation and relevant data without the need for on-site visits. This includes a thorough expert review of key documentation describing the critical aspects of a construction risk. Ultimately, we help clients identify potential challenges early in the project life cycle, enabling informed decision-making and risk mitigation strategies.
Risk rating
Through a robust risk rating process, CCi assists clients in understanding the magnitude and nature of risks associated with their projects, facilitating the development of targeted risk management strategies. As part of this risk management in construction service we perform an assessment of the risk presented against criteria derived from the DNV GL RP N-101 guidance.
Constructability review
We assess the feasibility and practicality of construction plans and designs with our constructability review. By scrutinising project documentation and identifying potential technical risks early in the planning phase, our team of expert consultants help clients optimise project execution, minimise costly revisions, and enhance the overall project efficiency.
Estimated Maximum Loss (EML) analysis
CCi can conduct an EML analysis to calculate the potential financial impact of various risks on a construction project. This Risk Management service involves identifying and assessing key risk factors, estimating the maximum financial loss that could result from these risks, and providing clients with valuable insights to understand potential exposures from a plausible range of risk scenarios.
Construction underwriting report
A combination of all the preceding services, this service provides a full desktop study of critical project documentation, indicates risk ratings for technical, environmental, and schedule exposures; and produces a comprehensive EML analysis. We support underwriters in making well-informed decisions regarding Risk Management in construction projects.
Contact us
Do you need Risk Management advice? Our experienced team is dedicated to providing comprehensive services to mitigate uncertainties and enhance the success of your construction projects. Contact us to learn how to minimise project risks.