Risk Management Services
More foresight, fewer setbacks. You can identify, prevent and mitigate potential costly delays and disruptions before breaking ground or during project execution with Howe&Hap’s risk management services. Our construction experts understand the changing engineering and construction industries and draw upon years of experience to provide cost-effective solutions that work. We’ll be there throughout the construction process, helping you to make informed decisions and keep your project moving forward.
Howe&Hap provides construction and engineering risk management by identifying and analyzing potential risks that may occur throughout the construction process. Howe&Hap’s construction management team performs risk assessments on construction projects to assist our clients in preventing and mitigating costly potential delays and disruptions.
• Risk identification
• Disaster Prevention and Relief Planning
• Probability assessments
• Constructability Review
• Multi-variable Regression Analysis
• Sensitivity Analysis
• Modeling Risk Profiles
• International risk evaluations
• Cost escalation analysis
• Risk Monitoring
• Schedule & cost forecasting
• Delays and Disruptions
• Decision risk analysis
• Damage Assessment
I. Construction Risk Identification
Construction projects are fraught with more inherent risks than traditional corporate projects. As such, identification of these risks is the first step in mitigating their potential impact to the costs and schedule of a project. Howe&Hap’s cost estimating and scheduling expertise provides us with the unique perspective to identify the risks associated with your project at every phase from concept to close out.
When you are assuming the high risks associated with a construction project, Howe&Hap can help manage and mitigate those risks from the outset and, by extension, reduce the stresses and increase the likelihood of successfully constructing your project.
Howe&Hap’s services that may assist in mitigating the potential risks of your project include:
• Pre-construction planning and coordination
• Construction cost management
• Risk workshop development
• Dispute avoidance and claims mitigation
• Risk register development
• Qualitative risk assessments & scoring
• Quantitative risk analysis
• Decision risk analysis
• Sensitivity analysis
• Risk response planning
II. Probability Assessments
Howe&Hap’s probability assessments can assist any construction and engineering professional in evaluating and determining the best course of action in accounting for construction contingencies and mitigating construction cost overruns, delays and disruptions.
III. International Risk Evaluations
As construction projects become more complex, the magnitude of risk involved for owners, contractors, architects, and engineers increases the possibility of negative impacts and damages on projects. This is even more apparent on international construction projects.
Howe&Hap assists its clients by identifying and analyzing potential international risks that may occur throughout the construction process. Our construction management team performs international risk assessments on construction projects to assist our clients in preventing and mitigating costly potential delays and disruptions. Our consultants will be there throughout the construction process, helping you to make informed decisions and keep your project moving forward.
IV. Cost Escalation Analysis
Over the course of long-term projects, and in particular outside the EU, inflation of material prices often results in disputes between owners and contractors. Material and labor escalation clauses can be used as contractual tools to account for pricing adjustments due to changes in prices of materials, while forensic material escalation analysis can be performed to retroactively quantify material cost adjustments in a manner equitable to both owners and contractors.
Through the use of various pricing indexes and historical data, Howe&Hap can construct historical pricing profiles for construction materials. Our material escalation analysis is often a helpful tool in conjunction with the following services:
• Contract administration
• Construction cost estimating
• Mediation and arbitration support
• Litigation support
Material escalation analysis is an objective tool for dispute avoidance and claims mitigation if used proactively and is an objective tool for dispute resolution if used forensically.
Whether you are a contractor or subcontractor trying to prove material escalation or an owner attempting to defend against over inflation of material costs, Howe&Hap’s consultants are equipped to provide material escalation analysis to supplement your efforts.
Material escalation analysis can play a pivotal role proactively in the drafting of contract documents as well as forensically in the expert reports and witness testimony provided for litigation support.
V. Risk Monitoring
Construction risks can be costly and time consuming for your organization and your clients. As a result, construction risks should be monitored, tracked and controlled throughout a project's life cycle. Howe&Hap’s risk monitoring consultants have extensive knowledge in identifying and overseeing construction risk in order to mitigate claims and disputes. Should an identified risk event occur, Howe&Hap can assist by implementing a mitigation response plan to control the impact in a timely manner.
VI. Schedule & Cost Forecasting
Effective scheduling is imperative to the success of your project. Howe&Hap’s scheduling experts will apply years of experience throughout a variety of industries to assist with forecasting realistic project schedules and budgets to allow you to make informed decisions. Howe&Hap's scheduling and cost forecasting services include:
• Critical Path Method (CPM) scheduling
• Preliminary schedules
• Periodic scheduling updates
• Planned and as-built schedule analysis
• Development of work breakdown structures
• Resource and cost loaded schedules
• Construction project acceleration
• Schedule delay analysis and quantification
• Total float management
• Time impact analysis
• Monte Carlo risk simulations
• "What-if" scenarios
• Window analysis
Howe&Hap provides construction and engineering risk management by identifying and analyzing potential risks that may occur throughout the construction process. Howe&Hap’s construction management team performs risk assessments on construction projects to assist our clients in preventing and mitigating costly potential delays and disruptions.
• Risk identification
• Disaster Prevention and Relief Planning
• Probability assessments
• Constructability Review
• Multi-variable Regression Analysis
• Sensitivity Analysis
• Modeling Risk Profiles
• International risk evaluations
• Cost escalation analysis
• Risk Monitoring
• Schedule & cost forecasting
• Delays and Disruptions
• Decision risk analysis
• Damage Assessment
I. Construction Risk Identification
Construction projects are fraught with more inherent risks than traditional corporate projects. As such, identification of these risks is the first step in mitigating their potential impact to the costs and schedule of a project. Howe&Hap’s cost estimating and scheduling expertise provides us with the unique perspective to identify the risks associated with your project at every phase from concept to close out.
When you are assuming the high risks associated with a construction project, Howe&Hap can help manage and mitigate those risks from the outset and, by extension, reduce the stresses and increase the likelihood of successfully constructing your project.
Howe&Hap’s services that may assist in mitigating the potential risks of your project include:
• Pre-construction planning and coordination
• Construction cost management
• Risk workshop development
• Dispute avoidance and claims mitigation
• Risk register development
• Qualitative risk assessments & scoring
• Quantitative risk analysis
• Decision risk analysis
• Sensitivity analysis
• Risk response planning
II. Probability Assessments
Howe&Hap’s probability assessments can assist any construction and engineering professional in evaluating and determining the best course of action in accounting for construction contingencies and mitigating construction cost overruns, delays and disruptions.
III. International Risk Evaluations
As construction projects become more complex, the magnitude of risk involved for owners, contractors, architects, and engineers increases the possibility of negative impacts and damages on projects. This is even more apparent on international construction projects.
Howe&Hap assists its clients by identifying and analyzing potential international risks that may occur throughout the construction process. Our construction management team performs international risk assessments on construction projects to assist our clients in preventing and mitigating costly potential delays and disruptions. Our consultants will be there throughout the construction process, helping you to make informed decisions and keep your project moving forward.
IV. Cost Escalation Analysis
Over the course of long-term projects, and in particular outside the EU, inflation of material prices often results in disputes between owners and contractors. Material and labor escalation clauses can be used as contractual tools to account for pricing adjustments due to changes in prices of materials, while forensic material escalation analysis can be performed to retroactively quantify material cost adjustments in a manner equitable to both owners and contractors.
Through the use of various pricing indexes and historical data, Howe&Hap can construct historical pricing profiles for construction materials. Our material escalation analysis is often a helpful tool in conjunction with the following services:
• Contract administration
• Construction cost estimating
• Mediation and arbitration support
• Litigation support
Material escalation analysis is an objective tool for dispute avoidance and claims mitigation if used proactively and is an objective tool for dispute resolution if used forensically.
Whether you are a contractor or subcontractor trying to prove material escalation or an owner attempting to defend against over inflation of material costs, Howe&Hap’s consultants are equipped to provide material escalation analysis to supplement your efforts.
Material escalation analysis can play a pivotal role proactively in the drafting of contract documents as well as forensically in the expert reports and witness testimony provided for litigation support.
V. Risk Monitoring
Construction risks can be costly and time consuming for your organization and your clients. As a result, construction risks should be monitored, tracked and controlled throughout a project's life cycle. Howe&Hap’s risk monitoring consultants have extensive knowledge in identifying and overseeing construction risk in order to mitigate claims and disputes. Should an identified risk event occur, Howe&Hap can assist by implementing a mitigation response plan to control the impact in a timely manner.
VI. Schedule & Cost Forecasting
Effective scheduling is imperative to the success of your project. Howe&Hap’s scheduling experts will apply years of experience throughout a variety of industries to assist with forecasting realistic project schedules and budgets to allow you to make informed decisions. Howe&Hap's scheduling and cost forecasting services include:
• Critical Path Method (CPM) scheduling
• Preliminary schedules
• Periodic scheduling updates
• Planned and as-built schedule analysis
• Development of work breakdown structures
• Resource and cost loaded schedules
• Construction project acceleration
• Schedule delay analysis and quantification
• Total float management
• Time impact analysis
• Monte Carlo risk simulations
• "What-if" scenarios
• Window analysis
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