#228 Risk management in construction

Bernhard Metzger's podcast on BuiltSmart Hub deals with risk
management in construction projects. It describes systematic
methods for identifying and assessing risks, including the use of
a risk matrix and quantitative analyses such as Monte Carlo
simulation. In addition, strategies for risk minimisation and
control (technical, organisational and contractual measures as
well as risk acceptance, transfer and reduction) are explained.
The article emphasises the importance of proactive risk
management for project success and adherence to budget and
schedule. Finally, the advantages of Monte Carlo simulation for
precise decision-making in the construction industry are
emphasised.