Rob Halstead, Head of risk management, Crossrail
Risk managers are increasingly working within a collaborative sphere and must figure out how to engage with that. That’s a macro thing. In terms of specific risk, there are bigger projects coming and technically challenging projects. We can be at the forefront of how people understand these new approaches to risk.
Construction companies are already recognising that risk is about more than just compliance and that it can support the successful delivery of a project. Certainly where we are, the risk function has had a lot of profile in terms of how we support the programme, and it has enabled us to get into that area where people are making the big decisions. That’s where we want to be as risk managers, because this is the interesting side of things.
The other side is getting the supply chain engaged. Risk managers need to look into this aspect and work with colleagues to get the management of risk effective throughout the chain.
I’m a risk manager who has come from the project side, but I’m interested in leveraging insurance industry knowledge because I’m sure they can help support construction firms more.
What I would like to see is the insurance industry recognising that there are some significant risk exposures that we manage day to day that can’t be insured.
I feel they have the expertise to help us manage those risks, and they might find in doing this that there are some things they could insure.
This article was first published in StrategicRISK’s Construction Report, published in association with Zurich. To download a copy of the full report, click here
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