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Construction Risk Management: What to do when your project goes wrong

Lets Build

There is a number of parameters that you should think about and an efficient management of the risk is surely necessary. In other words, you can’t really define risk on the exact same way in every construction project. Even within the same project, there may be distinct sources of risk. Types of risk in construction.

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Homebuyer Desperation Is Leading to a Rise in Real Estate Fraud

Pro Builder

The risk for property fraud involving misinformation from sellers increased 23% in the second quarter of 2022 from the year prior, while transactions where wire and title fraud were a risk factor reached an all-time-high in the fourth quarter of 2022, Insider reports.

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How to Successfully Plan the Risks Going Into a Construction Project

Fieldwire

Every construction project is uniquely different, and the distinctive characteristics of the industry - such as high-cost intensity and lengthy durations - also add an additional layer of complexity to the risk landscape. The Importance of Project Risk Planning. Workflow of Risk Planning. treating the risks.

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The top 5 construction project management challenges and what to do about them

Lets Build

Construction projects are prone to more risks than most other industries—each project is unique, and there are endless factors that can impact its outcome. Budgeting and cost overruns. Safety and risk management. Assess those risks based on their probability and severity of impact.

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What You Should Know Before Taking a Construction Loan

Construction Marketing

Finding your dream home with all the unique features within your budget and in the perfect location can be challenging. Before approving your loan, the lender must review your projected budget estimates, detailed construction plans, and construction timelines to decide on your loan amount. How construction loans work.

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How To Improve The Management Of Construction Site Inventory

Construction Marketing

Keeping track of inventory storage is especially tricky as a surplus of resources ends up bloating your budget while taking up valuable space. The constant supervision of inventory also means changes don’t go unnoticed, thereby minimizing the risk of shortages. Moreover, IMS makes it easier to collate important information.

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#100:  Dealing With Rising Costs

NH Construction Law

Another approach is to negotiate with subcontractors or suppliers to lock in prices for an extended period of time, thereby kicking the price increase risk downstream – but in the present volatile market, subs and suppliers are increasingly reluctant to hold their prices for long, typically not more than 60 or 90 days.

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