Page 53 - Urban Construction Project Management

28 Chapter Two
Exhibit 2-6 RISK RISK ASSESSMENT RISK ASSESSMENT
CSI SUBDIVISION HAZARD IDENTIFICATION PRESENCE (HIGH, MEDIUM, (HIGH, MEDIUM, RISK CONTROL PLAN
OR LOW)
OR LOW)
Risk assessment CODE YES/NO FREQUENCY SEVERITY
form.

3. The impact of the risk is rated as the Frequency of Exposure to Hazard Severity
of the Outcome Probability of Occurrence Impact to Project or Degree of Risk.
4. A list of actions needed to prevent the risk from occurring is recommended.
5. Contingency actions should be listed to minimize the impact on the project should
the risk actually occur.
6. The completed risk form should be immediately sent to the PM for review and
follow-up action with upper management if appropriate.

It is important that the PM be given not only the responsibility, but also the author-
ity to go with it, to act on all items and matters that can adversely affect the project.
Remember that time is money, but money does not always buy time. It is therefore
of utmost importance to identify, react, and resolve matters in a timely manner. You
cannot expect the PMs to be able to do their jobs if they do not have the control of
the resources, that is, the money, personnel, equipment, and systems, to resolve it.

Health, Safety, and Environmental Risks
During the construction process, the CM/GC will often encounter various health, safety,
and environmental issues on a project. Each of these issues presents potential risks to
the CM/GC and the overall project. Exhibit 2-7 is a summary of health, safety, and
environmental risks for a project.

Construction Defects as Potential Risks

Construction defects are sometimes encountered which present potential risks to the
CM/GC and the overall project. These risks are summarized in Exhibit 2-8.