Anybody who has experience managing construction projects will tell you that risks are not avoidable. Risk in construction projects can come in different forms, such as budget overruns, late delivery, and even labor issues. To mitigate this risk as much as possible, you certainly need the help of a professional quantity surveyor (QS) in Dublin, such as Rory Connolly.
In the rest of this post, you’ll discover a few effective ways a reliable QS in Dublin can help you manage construction risks and achieve a successful project.
- Identifying risks
Without identifying risks and potential risks associated with a construction project, risk management is impossible. This explains why expert QS in Dublin often start with risk identification.
What are the likely risks associated with your building project? To identify these risks, the best QS will conduct a thorough analysis of the construction project. They’ll analyze different factors, including:
- Project’s location
- Design complexity
- Construction type
- Weather conditions
- Material availability
To get the most out of the analysis, QS experts also work with other stakeholders to better identify risks.
- Assessment of risks
Identifying potential risks is crucial but not enough. In addition, QS experts further assess these risks and analyze their individual impact on the construction project.
For effective analysis, quantity surveyors in south Dublin often use the following risk assessment tools:
- Risk matrix
- Sensitivity analyses
Risk matrix is an advanced QS tool that helps to assign numerical values to the identified risks, based on their likelihood. Bottom line, with both assessment tools, QS in Dublin can always prioritize how to tackle each risk, focusing on the most crucial ones first.
- Risk mitigation
Once potential risks have been identified and analyzed, what next? Here’s where the need to mitigate the risks with different strategies comes into play.
Cost management is one of the key aspects of risk mitigation today. This aspect focuses on how to keep the entire project within the set budget without compromising its quality. Doing this requires different approaches:
- Risk management planning
- Continuous monitoring
Risk management plan
The first approach, which is planning the right strategies, is crucial for risk mitigation. For instance, if a risk has been identified that fluctuating market conditions may impact the project, cost planning is ideal. The QS experts will proceed by planning costs. This plan will provide a clearer financial roadmap, which will help guide the project from start to the end.
Furthermore, if adverse weather is identified to likely impact the project, the QS experts may decide to schedule work during the dry season. If they must work regardless of the weather, then drainage systems are put in place to prevent flooding.
Ongoing monitoring
Making a plan to address the identified risks alone isn’t enough. In addition, the right quantity surveyors in Ireland will also practice continuous monitoring of the plans.
In the case of cost, ongoing cost monitoring is crucial and this should happen at all stages of the project. Monitoring the costs at all levels of the project can help prevent budget overruns, which is one of the most commonly encountered risks in the construction industry.
The best QS experts in Dublin understand that risks can happen at any stage during the project. This is another reason why continuous monitoring is crucial to better identify new risks. When this happens, the quantity surveyors will proceed by updating their risk management plan, accordingly.
Why should you hire Rory Connolly today?
With more than 30 years of experience in the industry, there’s no denying that Rory Connolly is capable of handling your construction project. This firm has many strategies in place to deliver satisfying projects quickly and minimizing the associated risks. You can learn more about Rory Connolly’s services by visiting its official website today.
