Any process of change holds a certain level of risk which needs to be managed.
Construction projects, even those similar in nature, will still have varying risks as each project is unique in relation to site, team setup, Client, Contractors and so on.
The general rule is that risks are higher as the project is in its initiation phase reducing as the project moves forward. Having the correct reporting strategy is essential in order to allow the Project Management team to forecast different scenarios and source out potential risks in sufficient time to take necessary action with limited impact on other project aspects.
Once again the holistic approach assists risk management as individual aspects of the project are designed simultaneously, implying that any required amendments are noted as design progresses resulting in minimal, if any, abortive works. Contrary to this, the traditional sequential approach is generally not very forgiving. Quite often design of certain trades such as interiors are initiated when the project is already being constructed, implying that any amendments required will result in substantial abortive works.
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