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R I S K M A N A G E M E N T
job site, so if a piece of equipment is stolen, an alert is sent to
management instantly.
Fleet safety and equipment maintenance are also key con-cerns
among many heavy contractors. The new maintenance
software systems available are all online and will alert opera-tors
in the field regarding overdue maintenance or inspec-tions
that need to be completed. Sub-contractor controls can
also be streamlined within these programs so that a standard-ized
prequalification assessment can be administered to every
sub working on your job.
Environmental risks come in many different forms.
Alberta has seen its share of flooding, forest fires, hailstorms
and wet weather, all of which can impact a contractor and
their projects. Contracts should be thoroughly reviewed
for insurance requirements. It is essential that you engage
an experienced and skilled insurance broker to ensure you
are meeting your contractual obligations and effectively
managing your risks.
How can your company mitigate risk?
It is imperative that a company take a wholistic approach to
risk management. Prior to the bid is when a full risk assess-ment
should be conducted. You should attempt to highlight
and identify all key areas of risk and communicate them
throughout your organization so that all are aware. Best
practice is to include managers from all departments in order
to gather multiple viewpoints. When conducting these risk
assessments, a few items to keep in mind are:
• Project location
• Manpower requirements
• Skillset needed
• Potential cost/schedule risks
• Contractual concerns
• Equipment requirements
• Sub-contractors involved
• Engineering/materials identified
• Any OH&S related concerns
Once these risks are identified, we suggest you prepare
a risk matrix or risk register to manage them throughout
the project lifecycle and dedicate staff to actively respond
when needed.
Companies that incorporate new technology can integrate
many of their systems to drive cost savings while still
protecting their people, assets, reputation and bottom
line. Further, companies that manage risks and showcase
operational resiliency will be well positioned when the
Alberta economy gains traction. n
Shawn Bower, B.A., CRM, ABCP, is a risk services manager at
Lloyd Sadd. He has more than 18 years’ experience providing
risk management consulting and works closely with Lloyd Sadd’s
commercial clients to create, adjust and fortify their risk manage-ment
programs. Bower’s key responsibilities are to assess poten-tial
risk situations and provide recommendations and resources
to help improve a business’s risk profile. He also facilitates train-ing
workshops on risk management issues, conducts risk control
and loss prevention assessments on site and provides in-depth
audits and reports.
34 www.albertaheavy.ca
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