construction risk
Tom Hallissey No Comments

A new study reveals that team collaboration may play a significant role in reducing construction risk. A Dodge Data and Analytics Smart Market report says tangible project benefits, such as reduced construction cost, improved project schedule and greater safety can result from using specific risk reduction practices, including:

  • Holding regular meetings with the full project team
  • Brainstorming in groups
  • Developing a risk management plan

According to a poll of those in the construction industry, 91 percent agree that collaboration can reduce construction risk. “This study contributes to the growing body of knowledge about the positive impacts of project collaboration,” said Steve Jones, senior director of industry insights research at Dodge Data & Analytics. “Early collaboration by team members can lead directly to less project risk and crisis – a significant incentive to start working together better, more often.”

How Working Together Cuts Construction Risk

There are many factors that contribute to construction risk. While some may be controlled, others may not. Although there will always be workplace accidents, improved communication and better team information flow can help reduce other risk factors.
construction risk

Benefits

If your company takes steps to reduce its construction risk, it will have many benefits even beyond preventing employee injuries. From morale to the finished product, team collaboration can improve all aspects of your construction company, including:

  • Reliability
  • Schedule
  • Safety
  • Quality
  • Client satisfaction

In addition to these benefits, collaboration can also save you money. For example, communication between different teams, like design and a general contractor, could result in the discovery of money-saving opportunities. In the construction industry, sharing ideas always helps.

The positive impact of collaboration may not be a new concept, but its importance to the construction industry is more apparent today. As projects increase in scale and become more complicated,  there is an even greater need for workers to communicate with one another.

construction risk