Risk management is critical in the construction industry. Construction projects are well known for their high degree of uncertainty due to factors such as design changes, unexpected site conditions, high accident rate, material availability issues, labor shortages. These risks can lead to delays, budget overruns, obstructed cash flow, safety hazards, and even project failure.
XPLUS Risk Management helps construction project managers identify, assess, and mitigate potential risks, and so minimize the negative impact on the project. From improved project planning through better decision making, cost savings and increased safety, our XP Risk Management tool streamlines processes, enabling that potential risks are identified and managed in a timely and effective manner.
Ready to take your project to the next level?
Explore the advanced functionalities of XPLUS Risk Management:
- identifying potential risks to project plans using sample checklists of common risks from various areas, as well as historical data repository;
- assigning a potential risk rating based on its likelihood and impact or defining your own risk criteria;
- creating risk mitigation and contingency plans, which include identifying potential costs and allocating them to the relevant project phases;
- budget allocations for unforeseen circumstances;
- real-time issue tracking and reporting;
- creating routine risk assessment forms to be filled out by employees during shifts and automatically store all data in the system
- automatic notification for the project manager and supervisor about risk occurrence – based on the configured level of responsibilities;
- financial forecast including risk valuation, profitability and cash flow that could result from potential risks.