Identifying and Managing Risk to Mitigate the Potential for Loss

Construction professionals need to balance the contingencies of risk with specific contractual, financial, operational and organisational requirements through effective risk identification and risk analysis. The risk management process consists of identifying construction risks and exposures and formulating an effective risk management strategy to mitigate the potential for loss.

Critical Path’s Risk Analysis Services help you to ascertain the risks involved with adopting different construction methodologies and identify the risks associated with project changes and associated mitigation strategies.

We undertake risk analysis as a matter of course when carrying out planning support activities such as tender or master planning and when developing risk mitigation strategies to deal with project change. We utilise a range of analytical techniques and simulations such as PERT and MonteCarlo, to assess schedule and cost risk with a view to providing clear information with which you can make informed decisions.

Using a range of modelling technologies, we can also integrate design information with time and cost analysis to provide the accurate data needed for undertaking scenario and ‘what if’ testing.

This enables you to appraise the risks associated with potential design or build method changes, with regard to the implications on both time and cost.