Risk Management NYC

THE INS AND OUTS OF RISK MANAGEMENT

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No two construction jobs are the same. Whether it’s a new house, a large retail complex, or something completely different, every project has its own complexities. Of course, there are also unique risks involved with each job.

Here’s the thing: If your company wants to survive & grow in the industry, it’s imperative to invest in construction risk management. By following sound processes, you & your team will make the right decisions & act accordingly.

Keep reading as we explain how to keep risks under control.

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REVIEW POTENTIAL SOURCES OF CONSTRUCTION RISK

It’s easy to focus solely on the end result of your project. That said, you need to take some time figuring out what factors could potentially derail progress. Here are some of the more common sources of construction risk:

Occupational risk: The last thing you want is for one of your workers to suffer an injury on the job site. Injuries can stem from carelessness, methodologies or technologies used, inclement weather, or a third party. If you’re at all concerned about occupational risk, consider having your workers go through additional training programs prior to starting on the project.

Project risk: A lack of proper project management can throw a wrench into any job. Inadequate company policies or miscalculation of time and resources can also jeopardize your project. That’s why it’s important to take a proactive approach when it comes to construction project management.

Natural risks: You might have already identified every potential occupational, financial, contractual, and project risk. But what happens when Mother Nature unexpectedly throws your progress for a loop? It goes without saying that floods and other major storms can damage construction sites and render future work impossible.

Competition: This is another major source of construction risk. Whether your company goes after large projects or smaller-scale ones, we’re willing to bet there’s competition. For example, maybe your firm is under pressure to match price or delivery terms. Whatever the case, it’s crucial to account for competition and avoid putting profitability at risk.

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CHOOSE A FIRM THAT PUTS YOUR PROJECT FIRST

Site safety plays an integral in any construction project. Without the right precautions in place, your company could be looking at on-site incidents and future delays. This is where the team at Menotti Enterprise comes into play. Get in touch with our risk management professionals today and see how we can keep your upcoming project on track.

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DEAL WITH EACH RISK

Avoid the risk

While this might seem pretty self-explanatory, it’s at least worth mentioning. Let’s say that your company has an opportunity to bid on a project in an area prone to earthquakes and other nasty weather. Is it really worth all the time, money, and materials to move forward with such a project? Maybe not.

Transfer the risk

Accidents occasionally happen on a job site. Sure, you can certainly implement training protocols to limit the chance of a mishap occurring. Frankly, though, your best bet is to put the inherent risk in the hands of an insurance company, subcontractor, or third-party supplier.

Mitigate the risk

There might not ever be a day when safety hazards in construction no longer exist. However, your team should absolutely continue to invest in proper safety equipment and training. We’re not just talking about programs for workers, either. By educating high-level staff and managers, your company has a better chance of reducing dangers.

Accept the risk

As an industry veteran, you know that some risks are worth taking while others are not. In any case, understand that risk is a major piece to the construction project puzzle. Rework your risk management strategies if necessary, knowing that implementing them can sometimes work around the specific risk and even lessen its impact.

Here are Construction Business Owner’s expectations you should have of your risk management partner:

Contract Reviews

It’s one thing for your risk management partner to simply meet the compliance requirements. It’s another to include a comprehensive contractual risk transfer analysis. Many construction companies don’t realize that this is the least expensive way to transfer risk.

Risk transfer analysis isn’t the only noteworthy tidbit of contract reviews. For example, if your risk management team can show the underwriter how your risk is being transferred contractually, the door may be opened to reduced rates and broader coverages.

Bid and accrual support

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Experience modification projections

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Acquisition due diligence

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Cost-benefit analysis

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Experience

You wouldn’t hire just anyone to serve as your risk management representative. The team at Menotti Enterprise has over 100 years of combined experience working on some of the most prestigious buildings around the world. It’s safe to say we’ve been there and done that in the world of construction safety and management.

Versatility

Menotti Enterprise is certified by both the state and city of New York as a “Service Disabled Veteran Owned” and “Minority Owned” Business Enterprise. Over the years, our workers have been at the forefront of various projects. We have extensive safety management experience in government, educational, retail, commercial, residential, MTA, and maritime sectors. As we will discuss in a bit, Menotti specializes in risk management, construction management, OSHA training, engineering, and expediting. We continue to be one of the most versatile firms in the industry.

Integrity

Very few risk management firms in the region emphasize integrity quite like Menotti does. As a family owned and operated business, we understand the importance of going above and beyond for clients. At Menotti, we believe that if you choose to invest in our expertise and services, you deserve the best experience possible. It’s why we place such significance on communication and timeliness.

GET OUR FREE E-BOOK!

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Why Hire A Licensed Construction Safety Consultant

HOW RISK MANAGEMENT CAN HELP YOU

Now that you know more about Menotti Enterprise, let’s dive into some of our services:

Risk Management

Our approach to risk management is simple: Provide processes and solutions to help identify and address any risks while implementing a plan to prevent future ones. Thanks to risk management services from Menotti, you can lessen the number of violations and stop work orders issued, insurance premiums, and legal fees. Not to mention, Menotti helps you proactively change the project’s culture.

For your convenience, we offer the following risk management services:

Site safety management
Fire safety management
Concrete safety management
Qualified safety personnel
Certified health and safety technicians
Certified safety personnel
OSHA safety audits

Construction Management

Searching for an experienced construction management firm in NYC? Look no further than Menotti Enterprise. For years, we have provided clients world-class construction management services while exceeding their expectations.

The Menotti team is well-versed in all aspects of construction, management, and engineering. Whether your projects entails just a few minor renovations or a $1 billion overhaul, you can count on us to get the job done right. As aforementioned, Menotti has experience in various sectors, including government, education, residential, and aviation.

The Menotti team is happy to help with every phase of construction management. We can assist with supervision, coordination, pre-construction, scheduling, and closeout.

OSHA Training

In addition to risk management and construction management, Menotti also provides clients with access to various OSHA courses. Here is just a sampling of them:

OSHA 10-Hour Construction Industry
OSHA 30-Hour Construction Industry
OSHA 10-Hour General Industry
OSHA 30-Hour General Industry
OSHA Ergonomics
OSHA Fall Protection
OSHA Scaffold Safety
OSHA Personal Protective Equipment
OSHA Ladder Safety
OSHA Confined Space
OSHA Globally Harmonized System
OSHA Lead Awareness
OSHA Asbestos Awareness

Engineering

Engineering and risk management go hand in hand. At Menotti Enterprise, our engineers will construct projects without putting the public, your workers, or your property at risk. The Menotti engineering team specializes in the following:

Site safety plans
Tenant protection plans
Construction site fire safety plans
DOT logistics plans
Construction site engineered drawings
Sidewalk shed drawings
Supported scaffold drawings
Suspended scaffold drawings
Demolition drawings
Temporary standpipe drawings
Shop drawings
Subcontractor coordination drawings

Expediting

When choosing a risk management professional, you need someone who is comfortable with expediting. Here are some of the expediting services offered at Menotti Enterprise:

Construction code determination forms
DOT / DOB permit acquisition
Stop work order remediation
Code consultation
DOB / FDNY / DOT / DEP consultation
Dust / noise mitigation plans