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What is ‘Contingency’ in Construction Budgeting: Managing Uncertainty and Risk

Building Radar

Budgeting is a critical component that requires careful planning and foresight. One essential aspect of construction budgeting is the inclusion of a contingency. For more insights into construction budgeting strategies, you might want to check out Buildertrend’s blog on construction contingencies.

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Procurement Risk Management in Construction Projects: Strategies and Tools

Building Radar

Procurement risk management is a critical aspect of construction project management, ensuring that projects are completed on time, within budget, and to the required quality standards. Effective risk management strategies can help mitigate potential issues that may arise during the procurement process.

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Why Automated Processes in Construction Lending are Key to Risk Management

Rabbet

banks analyzed have insufficient risk management processes. Banks and lending institutions are under pressure to improve their risk management processes, whether that’s protecting data from a global outage or mitigating employee errors.

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From Excel Overload to Automation: Enhancing Risk Management in Real Estate Development

Rabbet

For development managers, that means tracking project costs in real time and easily dealing with change orders or other unforeseen issues. For development managers, that means tracking project costs in real time and easily dealing with change orders or other unforeseen issues.

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California Engineering Contractors (CEC) Adopts Industry-First Schedule Risk Analysis Tool from Planera to Manage Complex Projects

Civil + Structural Engineer

CEC, which has managed some of California’s largest projects, including the restoration of the San Francisco/Oakland Bay Bridge and the BART Transbay Tube Retrofit project, will leverage the tool to help build, analyze, and optimize project schedules to streamline execution and increase profitability.

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DCWC: The experts in risk management

Roads Online

Donald Cant Watts Corke Director for Infrastructure, Leslie Chung, sheds light on simplifying and reducing impacts caused by contractor insolvencies and project budget inadequacies. According to Chung, these challenges are often compounded by companies who have inadequate governance and risk assessment processes.

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What is ‘Construction Management at Risk (CMAR)’: Understanding the CMAR Delivery Method

Building Radar

Construction Management at Risk (CMAR) is a project delivery method that has become increasingly popular in the construction industry due to its unique approach to managing risk and ensuring project success. Understanding Construction Management at Risk (CMAR) What is CMAR?