Development•8 min read•July 10, 2022
Construction Risk Management in Development
Managing construction risk in commercial real estate development projects.
Construction risk is a primary driver of development project outcomes. Effective risk management addresses schedule, budget, and quality throughout the development process.
Key Risk Areas
- Budget overruns and contingency management
- Schedule delays and liquidated damages
- Contractor performance and bonding
- Material and labor availability
Mitigation Strategies
Proper contractor selection, contract structuring, and active project oversight reduce risk. Owner's representation provides independent monitoring and expertise.
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