Risk assessment and management in construction: anticipate uncertainty
Risk management allows you to identify, analyze and monitor risks and opportunities that could impact your construction project’s budget, timeline and quality. This is an essential governance tool for making informed decisions during a complex and unpredictable process.
DECASULT’s experts can help you to structure risk management as of the initial development phases, analyze the potential impacts and adopt tailored response strategies to secure decision-making and ensure your project’s overall performance.
Why you should take advantage of this service ?
Evaluate the risks of high-impact decisions
During construction projects, several decisions must be made even when certain information is not available. Risks can result from a wide range of factors including the design, market, regulations, environment, construction site and decisions made over the course of the project. A structured process allows you to anticipate these vulnerabilities, assess their consequences and strategically guide your decisions.
This process is particularly important where:
- The project involves a high level of uncertainty or innovative elements
- Important decisions must be made during the initial project stages
- There is little leeway when it comes to the budget and timeline
- You have to determine a realistic contingency reserve for financial risk
- The project involves several stakeholders or complex interfaces
- You’d like to have a better understanding of the risks before confirming the direction
DECASULT acts as an independent expert in risk management for construction projects and can help you to better analyze uncertainty, strategically guide your decisions and improve your project’s predictability.
DECASULT’s intervention process
We have all the expertise required to tackle the most complex construction projects
- Drafting risk management and project opportunity plans
- Delivering workshops to identify and analyze both qualitative and quantitative risks
- Evaluating the impact of risks on the project budget and timeline
- Determining the reserve for risks and analyzing all possible scenarios
- Introducing risk management processes and tools
- Determining the roles and responsibilities for risk monitoring
- Developing risk response and mitigation plans
- Monitoring the evolution of risks and opportunities throughout the project
- Training teams on risk monitoring and management
Our approach
A thorough methodology to manage uncertainty
Our approach is based on a structured process that identifies, analyses, quantifies and tracks risks. This approach is supported by project management best practices and analysis methods used during complex construction projects.
Qualitative and quantitative risk analysis.
Monte Carlo simulations and Program Evaluation and Review Technique (PERT) method.
Determine the reserve for risks based on various confidence levels.
Methodology aligned with PMBOK 6 practices.
Approaches used in large-scale public and institutional projects across Quebec. Complies with the methodology applied by the SCT and SQI.
Tracking tools, risk and opportunity logs, and dashboards.
Workshops to identify and analyze risks with stakeholders.
Deliverables
Practical tools for managing risks
Our deliverables allow you to track the progress of critical areas, guide the thought process and document decisions made throughout the project.
- Project risk and opportunity log
- Risk management dashboard
- Risk records that include response and tracking strategies
- Quantitative risk analysis and Monte Carlo simulation results
- Determining and justifying the reserve for risks
- Risk monitoring and evolution reports
- Reports on using the reserve for risks
What could the impact be?
A direct impact on your project’s predictability and performance
- A clear understanding of the project’s vulnerabilities and critical elements
- Better informed decisions at key moments
- A financial reserve that is justified and reflects the project reality
- Better alignment of scope, budget and timeline
- Reduced financial gaps and adjustments over the course of the project
- Strengthened project governance and better overall control
Would you like to get a clearer picture before going any further?
A comprehensive risk analysis can allow you to avoid costly errors.