Risk Management

Pro3 Extensions – Risk Management

In the construction industry, site risk management is an essential part of business continuity management. Small risks can lead to significant financial consequences. A good example is skipping installation inspections, which could result in, for instance, water damage, halting the entire site’s operations and incurring substantial unforeseen costs for repairs.

Good risk management involves anticipation and preparation for unlikely events. Typical challenges in risk management may include, for example, lack of risk analysis for projects or incomplete analysis in some aspects. It’s crucial to assess typical risks for the project and specific risks associated with it, such as those arising from conditions, project complexity, or execution model, at the beginning of the project.

A problem arises when there is no project-specific or portfolio-wide risk monitoring in place, or when there is no contingency plan for risks.

The Pro3 risk management add-on functionalities can expand the project workspace, where project risks, contingency plans, risk severity and probability, as well as the responsible person for each risk, can be listed. Pro3 administrators can also add predefined “risk templates” to the system, which include the most common risks associated with various project types.

The extension seamlessly integrates risk management into other Pro3 project management functions, enhancing the visibility and level of risk management throughout the project activities. The Pro3 add-on enables risk management and monitoring in compliance with ISO standards.

If you’d like to learn more, feel free to reach out:

Pekka Aalto
Commercial Director
+358 50 364 4542