Master Builders of Iowa

Financial institutions have a Risk Management Department that sets policy on who should receive a loan, and then audits the loan department to make sure policy has been followed. This is done because they want to protect their assets. Does your business have a “Risk Management Department” or at least someone who makes sure company policy is being followed so your assets are protected? Many companies have a Safety Director who makes sure employees, typically your most valuable asset, follow OSHA rules so they won’t be injured on a jobsite. But what about your other assets: company reputation, equipment, vehicles, etc.? Damages to these assets can be just as devastating to your bottom line as an injury to an employee.

Risk Management in a construction company does not have to be a “department”, but it does need to be a component of the business. Several questions need to be asked and answered: Can an obstacle or hazard be avoided completely or the impact lessened if it occurs? Does a subcontractor have the necessary financial and production strength to complete the job successfully? What is the likelihood of a terrible accident occurring on a jobsite? These as well as numerous others need to be considered whenever a new project is being bid (whenever you’re taking a risk).

• CLICK HERE to view more information about MBI's Risk Management Program.

Master Builders of Iowa has added staff to help you answers these questions and ask you some questions you may have not thought about. To get a review of your Risk Management policies or if you have RM concerns, contact Tom Suckow at the DM office @ (515) 657-4384 or on his cell phone @ (515) 250-0773.