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Mitigating Construction Risk with RedTeam Software

While risk is part of the DNA of construction projects, the good news is that this risk can be mitigated using construction management software. This technology is designed to provide operational transparency, improved documentation, and data collection that mitigates risk to bring more certainty to construction projects, improve project outcomes and increase profitability.

To effectively mitigate risk, contractors should leverage a comprehensive project management platform that:

Breaks down data silos 

RedTeam’s cloud-based technology breaks down data silos by centralizing communication and providing real-time visibility into projects and instant access to project documentation.  RedTeam organizes information in a unified environment that allows all project stakeholders to seamlessly review and respond to critical documents and transactions, tracking every step along the way.

The platform fundamentally changes the way construction professionals communicate and collaborate. Instead of waiting to get to an office to submit change orders, RFIs, submittals, and other essential documents, RedTeam’s cloud-based mobile technology makes it possible to prepare, file, and instantly share critical documentation with members of both internal and external teams from anywhere.

Creates tracks and manages documents

RedTeam’s robust document management features help construction firms track contracts, compliance, plans, specifications, and more. In addition to saving time and money, the technology makes information more accessible, fosters a collaborative environment that keeps internal and extended project teams updated on the latest versions of documents, and helps teams complete projects according to plan.

The mobile applications in RedTeam’s construction management platform also allow photos to be captured, organized by date, and attached to a project. This photo documentation enables field crews to confirm that a task was completed or provide a visual explanation of why something was not done.

Makes workflows seamless

Developed by contractors for contractors, RedTeam’s construction management platform contains built-in functionality that streamlines field and project workflows and decreases friction in communication between GCs and subcontractors. Using RedTeam’s TeamPlayer app, subcontractors can view the status of their contracts, change orders, credentials, lien waivers, submittals, and punch items, and share day-to-day performance updates in real-time, and document field directives from the GC. The result is improved collaboration, reduced risk, greater accountability, increased compliance, and improved contractor/subcontract relationship.

Enables robust reporting

Robust reporting features in RedTeam help contractors mitigate risk and manage the complexities of projects by tracking internal contractor changes and external customer changes, job costing, managing negotiated unit pricing rates, and in-depth reporting that focuses on exposure areas for both contractors and owners.

RedTeam’s mobile app can also be used for time tracking, generating field reports, managing documents, and inventory, and reporting on project progress.

Improves safety

RedTeam’s cloud-based construction management technology connects all project stakeholders wherever they are and ensures real-time access to day-to-day project details and reports as well as information on pandemic-related safety and government updates. The accurate data sharing of equipment weight requirements, limitations and safe-use guidelines, and other critical details also improves safety.

Facilitates a data-driven approach to decision making

Mobile technology integrated into RedTeam’s construction management platform makes jobsites more efficient. It provides contractors with the field data they need to understand the status of projects and make more informed decisions for better project outcomes.

Using RedTeam’s construction management technology, GCs can also create detailed, accurate estimates that factor in the real costs associated with overhead, risk, and job costs. Actionable data and insights provided by the technology help minimize cost overruns, map out resources and allocate budget more effectively. 

Provides metadata tracking

Metadata describes and gives information about other data — information artifacts that preserve an accurate timeline of what was done by whom and when. Recording essential metadata reduces risk by providing a clear understanding of the facts — factual evidence which can end disputes before they reach mediation or the courts.

RedTeam is built around robust contract formation and captures all the metadata associated with a construction firm’s day-to-day operations. RedTeam makes it easy for all project parties to work together on each document with complete transparency with its collaborative console.

We broke down construction risk for you to make sure your company understands risk management to be successful. You can find our guide on construction risk 101  at https://www.redteam.com/construction-risk-101-understanding-risk-management/

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