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Report on Risks and Opportunities

   

Added on  2020-10-23

10 Pages717 Words307 Views
Risk and Safety Management

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Risk and opportunity report ............................................................................................................1Supply chain vulnerabilities ........................................................................................................1Principles of opportunity and risk management .........................................................................2CONCLUSION ...............................................................................................................................3REFERENCES ...............................................................................................................................4

INTRODUCTIONSafety management is one of the key component of construction project. Thus, it is veryessential that project development plans must include these elements. This report will discuss theimportant principles of risk management and vulnerabilities of supply chain which can influencethe construction process. Risk and opportunity report Supply chain vulnerabilities Supply chain vulnerabilities are defined as the disturbance or the breakdown of thecontinuity of supply chain due to internal as well as external risk. The prison site project ofconsortium can face several vulnerabilities which need to be addressed so that project cost, timeand efforts can be saved. Due to resource limitations there are various construction materialswhich are supplied from overseas (Zhao and et.al., 2016). Thus, the delay in shipments can affectthe resource availability. Construction sector is also expanding towards globalisation anddigitalisation and thus supply chains are also getting advanced and digitalised. It is necessary toensure that skill gaps in digital technology does not put financial pressure on subcontractor. 1Illustration 1: Impact of supply chain vulnerabilities on project

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