Risks Management

Overview

In the construction industry, as much as 65% of insurance claims are related to business losses, as opposed to the direct costs of industrial incidents and accidents. With that in mind, robust risk management is necessary to properly prioritize and mitigate project and overall business risk. A centrally accessible risk register is essential for project management. Take it a few steps further by:

• Linking risk mitigations with the person or role responsible for it
• Automating equipment alerts to the relevant person
• Configuring decision thresholds so that issues are escalated to the next managerial level automatically
• Monitoring performance from dashboard, in the office and remotely
• Up-to-the-minute analytics create fast responsiveness to issues in the case of process breakdown.

Risk mitigation capabilities are also possible beyond project management. in the order lifecycle. Similar to lead scoring, configuring automated risk scores can be used in the order lifecycle:

• Order tracking
• Repeat orders
• Unusual orders
• This can prevent fraud from entering order processing and minimize risk in order management.