What is risk?
Developers find ways to mitigate risk, as it is perceived to be a threat to the success of their development. Investors find ways to minimise risk, as it is perceived to be a threat to the success of their investments. Engineers understand risk is an inherent part of any project, needing to be addressed and managed along with every other part of the project.
How do I mitigate or minimise risk?
Engineers and Project Managers incorporate the client’s concerns into an overall assessment of the development. They then provide recommendations on how to proceed with the development in the most risk averse way, maximising the financial, time, safety and quality benefits for the client. This may be:
· Providing alternate design options for consideration
· Completing feasibility studies highlighting the benefits of each option
· Proposing alternate construction or design procedures for increased productivity or ease of compliance during the development
· Preparing and optimising the project plan for the development
A professional Engineer or Project Manager is best consulted at the concept phase of the development (i.e. before any major investment has taken place), which will minimise the client’s risk and maximise the outcome’s benefits.
Above all, effective communication is key in Project Management. Its omission is detrimental only to the project’s outcome. It is the client’s role to communicate their concerns, goals and proposed outcomes for the development to the engineer. It is the engineer’s role to communicate their approach to mitigating or minimising the development’s risks to the client. Communication is a two-way street and shared communication maximises the success of the project.
“Effective communication is positive two-way communication.”
J.C. Engineers Pty. Ltd. has accredited Engineers and Project Managers who can provide risk adverse solutions for your development without sacrificing your project goals.
Please do not hesitate to contact us for a discussion about your development ideas.