Manage Construction Risks with These Tips

Construction Risk Management Tips

Improve the construction site and safety with these simple steps.

As part of a construction crew, you do everything you can to ensure your work is completed on time and to standard. Even so, the costs and hurdles that many construction teams face are ever-changing. New materials and techniques enter the market, while codes and other requirements require every team to be on their toes with regulations.

Despite your best efforts, sometimes you can end up the target of a construction defect claim. When something goes wrong, understanding what happened and why it happened can make or break your business.

To best manage construction defect risks, use these defenses:

Know your codes – Keep up to date with current regulations and standards, including building codes, industry advisories, and the best practices.

Understand the products you use – Follow manufacturer guidelines, study product warranties, and expiration dates, too. Always know the limitations of every material and system, and don’t risk it if you can help it.

Choose the right subcontractors – Pre-qualify subcontractors to help ensure each has the proper credentials, experience, and skills to deliver the high standard of work that you aim to produce.

Transfer risk if necessary – Always rely on your legal counsel and risk advisors to help ensure that contracts protect you against errors and limit your obligations.

Document and record everything – Build a solid record of every step in the construction process to help defend against claims of poor workmanship. Always back up these documents digitally and store them somewhere safe.

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