Managing risk in the Australian construction industry

The full impact of COVID-19 on the Australian construction sector will become more apparent over the next quarter, but there has been much speculation regarding the outcomes for the industry as well as potential risk mitigation strategies.

It is important for businesses to ensure a comprehensive risk assessment is undertaken which then informs a risk-based mitigation action plan. While the current situation is evolving, organisations should put processes in place in the first instance and then look to monitor and adjust on a regular basis into the future.