Risk, cost & change management

In order to minimise unnecessary costs change on construction projects needs to be avoided. However, in many projects change is inevitable, for varying reasons. Effective cost and change management processes are able to minimise and clearly identify the impact of any proposed changes.

Hookway believes that open and collaborative teams are key to an effective cost and change strategy. In addition, clear processes are put in place to track change and will vary depending on the procurement route chosen. Ultimately any change requests made by any party need to be timely and clear, and be analysed for any potential impact prior to being agreed and implemented by the person administering the contract. Hookway will ensure that the appropriate procedures are put in place and followed to provide sound cost and change management.

Construction projects will always contain an element of risk. Potential risks can however be minimised and managed through implementation of a risk management strategy.  Hookway implement processes that include clearly identifying the risks, agreeing how best to manage or mitigate them and, ultimately, inclusion of appropriate risk allowances within the project budget if appropriate. The use of such processes aids in delivering projects on time, on budget and to the required standards.