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What Contractors Need to Know About Risk Management in Construction

As a construction contractor, you likely contend with multiple risks each day. Every project on which you perform work is unique and likely involves both risks and potential benefits. To be more successful, you must understand how to identify and manage risks on construction projects to help avoid potentially detrimental issues.

Effective risk management might also help you evaluate potential projects and determine when a project might involve more risk than you are willing to take on. Avoiding disaster involves the proper identification, assessment, control, and monitoring of risks and instituting plans for addressing them.

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