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Architectural Engineering & Construction

Engineering and Risk Management

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  • June 1, 2018
Engineering and risk mangement

The fields of engineering and construction have always been linked with risk assessment. Nonetheless, risk management is becoming more and more important for both success of projects and companies’ profitability. Indeed, due to technological innovations as well as the increasing complexity of equipment, the appearance of new standards and regulations to follow, the number of potential sources of risks is increasing.

 

Mastery of risks and project cycles in engineering

In order to control these risks, we must be able to predict them and take them into account not only at the beginning of the project but also during each phase. That is to say, identify the risks during the whole project and not only during the project negotiation and launch. Ensuring the continuity of information and the monitoring of identified hazards upstream is a priority to limit risks.

However, it is still a mere overview. There are other elements to take into account to avoid creating useless risks:

For instance, potential risks impact analysis, ensuring an efficient flow of information between all the project stakeholders, being sure to have up-to-date and validated data, being able to quickly inform the people concerned of any evolution, securing access to data and modification circuits, being able to respond in record time when a problem arises, etc.

 

How to support risk management?

It cannot be denied that having a project cycle management software does not solve all these challenges. Nevertheless, it greatly facilitates their consideration and allows the setting up of efficient methods to solve them. We can draw parallels with CRM software. The latter does not ensure the signing of new customers but allows you to have all the keys to optimize business and marketing processes. Moreover, by capitalizing on projects already carried out thanks to software, we capitalize the good practices but also the risks in order to anticipate them and to identify them with much more precision!

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