Technology today is not only limited to increasing the productivity and profitability of the construction process. Over time, the scope of technology has become broader. For example, it now covers aspects ranging from constructionrisk management to resolving conflicts.

Irrespective of various initiatives by construction companies, construction remains an inherently hazardous occupation. Efforts are constantly made to reduce and manage the risk through the use of technology worldwide.

Let us understand how the introduction of technology mitigates and resolves conflicts in construction:

Introduction To Construction Risk Management

Construction risk management is a set of processes that involves identifying, evaluating, and minimizing the risk involved in construction. This process is not an option anymore but has become a core of all construction activities. Furthermore, adapting to the latest technology shows an organization’s commitment to its team.

The flow of construction risk management includes but is not limited to:

● Keeping the common risks involved in the construction process in mind.

● Successful identification of risks unique to the project.

● In-depth analysis of impacts caused by these risks to the current project and your company.

● Prioritize the risk: High-impact risks should be addressed first.

● Creating a roadmap and determining the response strategy to address the risks

● Monitoring the progress of implied risk management strategies.

“Using Technology to Improve Risk Management in Construction” has become a hot topic for research. Several surveys also point towards the success of construction management software. Furthermore, contractors benefit from technology to effectively gather and analyze data to manage risk.

Common Types Of Risks In Construction

Let us have a look at some of the most common sources of risks in the construction industry:

● Safety: Workplace injuries are common in any field. The probability just increases in the case of construction projects. Following SOPs and wearing purpose-specific protective gears reduce the risk of injury.

● Financial: Financial risk includes direct competition from rival firms, increase in material costs, changes in the market, and other factors that impact cash flow.

● Environmental: Extreme weather conditions such as floods, hail, storms, or earthquakes can significantly affect the construction sites. Similarly, lack of management can cause damage to the surrounding environment by releasing hazardous building materials, triggering landslides, or polluting ground/underwater.

● Logistical: Timely completion of any project always remains a challenge. Logistics play a significant role in achieving the goal in time. But specific logistical challenges can hamper the efficiency and effectiveness of the whole project.

● Resources: Most companies fail when it comes to managing resources. Labor, money, material, and equipment are all considered vital resources.

In addition to the risks mentioned above, time management, formulation of policies, and strong communication are some areas that need to be addressed on priority.

Role Of Technology In Improving Construction Safety

Technology such as affordable mobile devices to more complex AI site sensors is revolutionizing the construction sector. Efforts are being made to reduce the risk or lessen the impact. In pursuit of this, innovative technology is regularly introduced for digitizing security processes. Innovations that are improving safety on a construction site include:

Integrated Construction Management Platform

Integrated Construction Management Platform is the most effective way of increasing productivity and reducing the communication gap by centralizing the project data.

State-of-the-art software and apps are introduced as a construction management platform to capture, store, access, and distribute project-related information in one place. Noted advantages of using construction management platform are:

● Increased transparency between client, management, contractors, admin, and field teams.

● It provides quick access to progress reports and manuals. Hence, it saves time.

● An integrated project management system is invaluable in monitoring financial information.

● An integrated personal information system stores personal information, employees’ working hours, and productivity.

Drones

This innovation has gained much popularity in the construction sector very quickly. It is used to achieve a wide range of tasks such as site surveying, inspecting, and creating videos. Some specialized drones can easily detect safety hazards.

Virtual Reality

As the name suggests, this technology creates a virtual reality for users. It is a time-tested technology that pilots and surgeons use for training purposes. Now, the inclusion of this tech in the construction sector is proving fruitful in training site workers, special vehicle operators, and safety training. Hence, reducing the risks of injuries and accidents occurring during real-time training.

Smart Wearables

A smart wearable is a quality investment by a construction company that represents value for money. It is invaluable for workers involved in hazardous tasks. A smart wearable is fitted with sensors and GPS.

In the case of any danger, a signal is automatically sent to the supporting staff. Similarly, the location of the staff in danger can be ascertained through GPS. This technology has the potential to save precious lives.

Site Sensors

Site sensors are helpful for the detection of noise levels, temperature, and toxic chemicals on the site. Real-time data helps in controlling the risk immediately. If ignored for a long time, significant damage to the surrounding environment or employees’ injury can occur.

Benefits Of Risk Management In Construction

Considering the facts mentioned above, it can be ascertained that risk management is a smart investment that reaps benefits in the long run. While initially, the costs may bother, but the benefits outweigh the investment in the long run. A company gets:

● Organized operations: When the whole team is in the same line, managing the project becomes simple, efficient, and effective, ultimately enhancing productivity.

● Safe environment: Better coordination, training, advanced tools, and preventive measures significantly impact the safety and security standards.

● Team with high morale: Knowing that their company is investing heavily in workplace safety boosts employees’ morale.

● Increased profits: When there is a plan in place to manage the risk, it directly affects the company’s income.

Endnote

The application of technology in the company and its costs are the two major concerns of construction companies. However, if managed systematically, introducing technology in construction can take the company to the next level. If you need help in the injunction of technology in your construction endeavours, make sure to reach out to experienced experts like Bridgit https://gobridgit.com/blog/a-comprehensive-guide-to-construction-risk-management.