What Business Are We Really In? Risk Management!

What Business Are We Really In? Risk Management!

As construction professionals, we take pride in what we do as carpenters, laborers, operators, electricians, managers, and contractors; building projects both large and small. When people ask us what we do, the answer comes with a sense of accomplishment and generally a list of recognizable projects we have constructed.  

What Construction Professionals Should Ask Themselves

But from laborers up to the executive levels of construction management, we should ask ourselves, “what business am I really in”? The answer may change your way of thinking.

Whether we are reviewing a construction budget, a company’s monthly WIP report, P/L statements, or punch lists, we are using the information contained in those reports to protect ourselves or “manage our risk.” Additionally, we use contracts and schedules to set constraints and spell out requirements, thus managing our risk further. We would be amiss if we didn’t take these measures, but do we drive this attitude to all levels throughout the company? Here at Gadzoom, we believe you should be.

Responsibility Is Within Your Field Team

When safety is concerned, managing risk should be at the forefront of every field employee’s mind. From superintendents and site safety and health officers to laborers, each member of the team should be thinking “How do I do this task safely?” and “What are the things that could go wrong and what precautions should I take to prevent any of them from happening?” Team members should be properly trained on important issues like fall rescue, EM 385-1-1, and accident prevention, just to name a few. 

The preparatory review of possible risks and the implementation of safety precautions to prevent mishaps is, without a doubt, the most important application of risk management that any construction company can practice. And the responsibility lies with our field teams!

Mistakes Cause Ripples

The gravity of the situation cannot be understated - neither in financial or, more importantly, human terms. Accidents generally occur from a series of mistakes, usually starting with not recognizing the hazards, not acting on them, or both. Without having the proper controls and procedures in place, small mistakes have the chance to ripple into something much larger. A small oversight here or there could be all that it takes for safety to be compromised. One wrong move based on an “unexpected” event can cause serious injury or death, consequences that cannot be reversed for the worker or his family. 

Secondarily, these occurrences, which happen all too frequently, can have devastating impacts on a company’s financial stability for years. So, the next time your company is having a safety meeting, ask your entire team what business they’re in.

About Gadzoom

Gadzoom enables you to generate important documents in minutes, giving you the freedom to run and manage your business without all the headaches that come with administrative responsibilities. Our company was born to make construction document management as streamlined as possible. Create a variety of government compliant safety and administrative documents at the touch of a button. If you’re interested in learning more, visit our site today.