Risk analysis on-site is an important factor on any job. Making informed investments in construction and development relies on a robust system of risk analysis that’s designed to anticipate potential problems and help you understand how a project can unfold.
There are a number of competing frameworks for conducting thorough risk analysis, but each relies on a combination of identifying variables, quantifying the risk they present, and doing some math to get a handle on how safe of an investment the project is.
If you’re a developer, or just have a vested interest in a project, protecting yourself and your investment doesn’t have to end when you decide to write a check. Mistakes, missed deadlines, and miscommunication can all take a project into the red, but thankfully there are tools you can leverage to ensure things are going according to plan even if you’re not supervising the project yourself.
Three Tools For Risk Analysis On-Site
Construction Management Software
If you’re still managing your construction projects using ledgers, legal pads, and a filing cabinet, you’re exposing yourself to tremendous risk. No matter how competent and experienced your staff is, the opportunity for details to be overlooked, documents to be lost, or communications to break down is exponentially higher without a unified system in place for project management.
[Learn everything you need to know about construction risk management here!]
A digital construction management platform is, first and foremost, a single place to keep all your work organized. But a well-designed and correctly deployed platform offers so much more functionality than that. The software offers project leaders total visibility into every aspect of the job, pulling things like billing, materials, committed costs, change orders, and profitability together into a single-pane-of-glass view.
Tired of filling out the same forms over and over again for every change order or invoice? A good construction management software platform can help to automate repetitive tasks to save you time (and money!) that could be better spent focusing on more important issues — while keeping detailed records of everything for future reference.
On-Site Construction Photography
When it comes to minimizing risk on-site, few tools are as effective as comprehensive visual documentation. Large projects involve many layers of work done by many different crews, and newer phases will often obscure previous work permanently (e.g. drywall covering up studs, cables, piles, and conduits). Without regular photographic documentation, keeping track of of your project as-built can become increasingly difficult as time goes on.
Utilizing a third-party provider for photographic documentation can ensure a certain level of objectivity that is generally desirable for any kind of official documentation. Also, working with a trained professional who has experience on job sites and understands what to shoot is essential, because not just any photographer off the street will be able to get the job done right. You don’t want to find out your documentation photos are a little bit too “artistic” when you’re using them to mitigate your liability.
Documentation isn’t only about mitigating risk. It also supports a successful transition from the construction phase of a building’s lifecycle to maintenance by giving facilities teams access to the most up-to-date, in-depth information about what’s going on behind every wall, above every ceiling, and under every floor.
3D Reality Capture
Photographic documentation of a construction project can create a detailed reference for anyone who needs to know the details of a structure as-built, but modern technology is letting project managers and building owners go one step further. Thanks to advances in digital technology, it’s now possible to create realistic, three-dimensional digital models of buildings in real time, as they’re being built.
These digital models can tie together the ability to visualize a space that hasn’t been completed yet with real photographic documentation, so you can move through your future structure freely and check the details of specific sections as needed. This groundbreaking technology lets anyone tour the job site, no matter where in the world they are.
Realistic 3D models of finished spaces (i.e. a model apartment unit or office suite) can also be used by developers to help attract tenants and get leases signed before construction is even finished. Renters often have a very difficult time picturing the finished space, but a remote walkthrough can help turn a wait-and-see into a done deal. The more commitments a developer has in their pocket before construction is finished, the less risky their investment becomes.
Interested in learning about other next-generation tools like live job site webcams and drone-based aerial photography of your project?
Contact us today to speak with your local Multivista office.