There’s no place for risky behavior on a construction project. Especially one as important as yours.
At the project site, maintaining focus on safety and safe behavior at all times is paramount.
But there is also risk associated with hiring subcontractors, suppliers and key vendors. How financially sound is your construction team? Failure of any link in the construction chain can be costly.
Walbridge pays close attention to risk at all times and combines experience with a risk-identification mindset. Transparency across the company’s finance, estimating, pre-construction and operations teams helps tremendously in confronting and reducing risk.
Examine and analyze
For example, the financial status of all prospective subcontractors is examined and analyzed. Their experience modification rate (EMR), a key indicator of safe operations, is weighed. If it’s out of synch with Walbridge’s standards, that firm won’t be invited to bid.
“For more than 100 years, customers have entrusted us with billions of their dollars. We need to be good stewards of their money and we need to do everything we can to reduce risk.”
In order to deal effectively with risk, a contractor needs to know what true risk looks like. With a century of experience, Walbridge has seen and dealt with nearly every risk known in the construction industry.
The company maintains an electronic database with details from past projects. Employees check it regularly and learn how to avoid making the same mistake twice.