Managing the Safety Consequences and Business Impacts of Construction Risk

Companies can have a process safety incident while performing construction, high risk or non routine maintenance activities at their facilities, and the results can be devastating in terms of safety to the workers and public, the environment and the surrounding communities. There can also be significant financial costs to the company and /or contractors performing the work that can impact their ongoing ability to do business.

This paper examines the following aspects of this topic in order to help the reader find an effective solution to managing this risk:

  • Why Construction Risk is Increasingly Important in Today’s Environment
  • Impacts of Construction Incidents Impact on a Company
  • How Companies Historically Manage Construction Risk
  • Drivers of Construction Risk
  • The Solution to Managing Construction Risks
  • Integrating Construction Hazard Analysis (CHA) into your PSMS
  • How to Get Started Managing your Construction Risk

Why Construction Risk is Increasingly Important in Today’s Environment

Today’s business environment is more complex than prior years making construction risk more important to manage than before. Incidents that may have gone unnoticed can now instantly become infamous and can draw the attention of different groups including community groups, regulators and special interest groups, with different priorities, including the potential delay or stopping of your project. Below is an example of one construction project that had fatal safety consequences and severe business impacts because those involved did not understand and effectively manage their construction risks.

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