Construction Risk Management

Measure and manage risk with Vista™ by Viewpoint

As a decision maker at a construction company, you’re used to managing risk. You probably face it every day – whether it’s on-the-job safety, building engineering or making sure each project comes in on time and on budget to maintain profitability. In fact, as the market gets more and more competitive for fewer projects and every last dollar is squeezed from the budget, risk inherently increases. Today’s risk includes:

  • Liability if something goes wrong – cost for fixes and lawsuits due to injuries and/or death
  • Cost overruns – not knowing if you're on budget can rapidly eat up your profits
  • Damage to brand – if you don't deliver on time / on budget, your company's reputation could suffer, resulting in less work in the future

Reduce risk on multiple projects

When it comes to managing teams and equipment engaged in simultaneous projects, your risk rises. With a workforce spread across multiple job sites, it can be pretty tough to keep track of people and equipment – and unless there are systems in place for collecting and sharing data, everyone's going to evaluate, interpret and produce reports any way they see fit. Often times that means incomplete and inconsistent ways of reporting data uniformly across your organization…or worse, data is received that's long outdated and useless.

To be safe, you need in-depth, comprehensive data to understand your level of daily risk exposure, enabling informed decisions that protect you, your business owners and the company at large. Fortunately, Vista provides real-time data and lowers risk by allowing you to make decisions on the fly – presenting impact visibility quickly and allowing enough time to adjust and optimize your processes. The key to achieving this level of analysis is the Vista central database – storing the data that everyone accesses to make decisions. This shared database enables consistent reports rather than a collection of disparate spreadsheets tucked away on someone's hard drive. That’s where the power of Vista really shows its might – it uses a single database everyone can access to get real-time data and consistency in how the data is input and reported out.

An added benefit to implementing software with real-time data to lower risk is a boost to productivity across all departments since data doesn't need to be entered twice and is always available on demand regardless of where you or your teams are located. Not to mention, your data is more accurate – further reducing risk of errors caused by entering data and interpreting many different reports. With Viewpoint's cloud computing option, you can operate more nimbly and with less risk – someone else is responsible for keeping you up and running. And cloud computing solutions have redundant systems in the event of fire or hardware failures.