AE Blog - 7 Steps to Effective Risk Management for Design Professionals
Nothing is more important to the long-term success and survival of any design professional than consistent and effective risk management and loss prevention. Risk management is both a part of the client service and a key to economic survival. When properly performed, risk management and loss prevention not only prevent and control losses and claims, but also develop more business, more profit, and better client relationships.
Realization of these objectives may be approached as a sequential seven-step process.
- Selection of Projects, Clients, and Teams
- Risk Identification & Analysis
- Appropriate Contractual Agreements
- Performance Consistent with Applicable Standards of Care and Agreements
- Project Closeout