ALICE Blog Construction Risk Management: What Is It & How to Reduce Risk

What is construction risk management?Construction risk management works to identify and mitigate risks associated with construction projects. While some construction risks are unavoidable, such as natural disasters, some can be mitigated. Given the high amount of risk in every construction project it can be hard for a human to foresee risks, therefore computer software is often used to manage risks. An effective construction project management software can improve project management and risk mitigation throughout the entire project lifecycle. Examples of risks that can impact a construction project include safety hazards, financial, environmental, supply chain issues, and project risks such as communication breakdowns or missed and delayed deadlines.