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Risk Managment Swot Analysis

The plan to cover the construction site fence would have little monetary cost and reduce risk of blowing particles. However, the existing risk is already low severity so it may not be worthwhile. The uneven fencing could require repairs to properly support the covering. While the plan reduces risk, particles could still blow from other areas. Bad weather could damage coverings and scatter particles, increasing risk. Employees may see the plan as fixing a prior oversight rather than ensuring safety. Students may not investigate potential hazards, weakening warnings.

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0% found this document useful (0 votes)
136 views2 pages

Risk Managment Swot Analysis

The plan to cover the construction site fence would have little monetary cost and reduce risk of blowing particles. However, the existing risk is already low severity so it may not be worthwhile. The uneven fencing could require repairs to properly support the covering. While the plan reduces risk, particles could still blow from other areas. Bad weather could damage coverings and scatter particles, increasing risk. Employees may see the plan as fixing a prior oversight rather than ensuring safety. Students may not investigate potential hazards, weakening warnings.

Uploaded by

api-491553418
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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RISK SWOT ANALYSIS

INTERNAL FACTORS
STRENGTHS (+) WEAKNESSES (-)
   
 The plan requires no additional monetary cost to Turner Construction  The risk is still present not just at this area, but all around the construction site.
Company since materials required would be readily available and do not need Particles can still blow over the fencing at any point on the construction site,
to be purchased. especially on windy days.
 The plan would greatly reduce the frequency of a risk that already has a low  The severity of the risk is low to begin with. While the additional covering is
severity, effectively reducing the risk and eliminating almost any chance at minimal, it might not even be worth the time to set it up due to the low
financial damages. severity of damages related to the risk.
 It would take a very short amount of time to implement the plan since  The fencing in the area is uneven and not strongly secured. The fencing might
materials are readily accessible and require almost no time to put into place. need to be readjusted or rebuilt to better accommodate the covering, resulting
The risk could be taken care of within the span of a day or two. in the potential for a greater loss of time or money. According to the OPP
Design and Construction Standards’ Contractor Safety Requirements,
Appendix B, blue screen will not be used “in conjunction with fence
pedestals, sand bags or other easily moved bases/structures.” The presence of
these could result in a larger time or cost commitment to modify these.

EXTERNAL FACTORS
OPPORTUNITIES (+) THREATS (-)
   
 The severity of damages is minimal to begin with. It is very unlikely that  Bad weather conditions can cause large amounts of dirt and dust to blow out
anyone would receive any serious medical injury that would result in them of the area if the area is not properly maintained or kept, resulting in the plan
suing Turner for compensatory damages. The plan further decreases the being ineffective. The weather could also damage the fencing or covering,
likelihood and establishes a reasonable standard. resulting in the need to replace them.
 Turner Construction Company promotes safety on their website and is one of  The action of putting on the covering could be viewed by employees as an
the first visible items on the site. Putting up the additional covering is a small oversight rather than a means of minimizing the risk, leading employees to
way to show the workers that the company values not only the safety of its have a more negative outlook on the company’s quality of safety.
workers, but those around the construction site.  Most pedestrians in this area are students. Students might not even consider
 Public could view Turner Construction Company as considerate for the this a threat to their safety, resulting in a lack of searching for information
comfort and safety of pedestrians walking by as they are taking measures to regarding the hazard and making the Office of Physical Plant’s warnings
prevent particles/materials from flying from the site at the pedestrians. ineffective.

ANALYSIS SUMMARY
 
Overall, the plan has little cost, would be effective and requires little to no time to implement. However, it might not even be worthwhile to implement the plan due to the low
severity of the damages. The misaligned fencing in the area might result in a more time consuming implementation of the plan. The risk is still present all around the entire site, but
would have low frequency and severity. Turner can use this as an opportunity to reinforce its value of safety to its employees, as well as improve their public image. Additionally, it is
very unlikely that anyone would sue for medical damages due to blowing particles to begin with, but they can take advantage of that and effectively remove the chance of being sued
for that by covering the fence and establishing a reasonable standard. Bad weather, such as high winds or heavy rain, can cause particles to leave the area or damage the fencing and
covering, resulting in monetary loss. Additionally, employees could view putting the covering on as fixing an oversight by management, resulting in a negative perception of their
manager or the company’s quality of safety. Additionally, students might not even compelled to look into the matter to find more information regarding the site, contributing to the
potential threat of the plan.

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