How General Contractors Can Reduce Risk with Better Field Data

1. Types of risk in construction

For general contractors, effective risk management is important on every project. That's why it's key to know where (and how) to look for risk.

Four common risks in construction include:

1. Financial risk

2. Safety risk

3. Legal risk

4. Project/technical risk

At the end of the day, risk takes away from profitability. Unexpected costs add up—and make your profit margins smaller.

By increasing your project visibility, you can maximize profits and stay compliant. That's where good field data comes in.

2. Why field data is important for risk management

Collecting field data from crews ensures you get daily updates on project progress. However, there's a big difference between good and bad data.

Good data gives you detailed insights to improve projects in real time. Bad data—or inaccurate, incomplete data—doesn't show your actual progress, meaning risk increases.

Construction technology can help you get the best, up-to-date project info.

3. How construction tech can reduce risk

Construction tech (like field management software) makes it easy to collect field reports. With timely, accurate data at your fingertips, you can make more informed decisions to reduce risk.

Tech helps you collect documentation like:

1. Daily reports

2. Time cards

3. Equipment and material logs

4. Safety and quality checklists

5. Toolbox talks

From the field to the office, everyone benefits from tech. Field crews can quickly document progress throughout the day. Office teams get clean documentation (without the manual entry). Outside stakeholders can easily follow along with projects.

What kind of construction tech should you look for? Tech that's easy to use, like Raken.

4. Improve risk management with Raken

Raken's general contractor software is easy to use, so even the least tech-savvy members can comfortably document projects on the go. Since all field reports are stored on the cloud, you'll see everything in real time—and faster insights means better risk management.

Reduce risk with features like:

1. Super Daily (combine external subcontractor daily reports into one master report)

2. One-click compliance notifications

3. Toolbox talks and custom checklists

For self-performing GCs, we make it easy to visualize (and improve) productivity. Track, categorize, and compare cost codes over time with our production insights trends.