Project Manager's Playbook for Construction - Part 2 of 6

Explore construction risk by identifying potential events, evaluating their impact on schedule and contingency, and applying strategies to minimize, transfer, insure, or accept risk, with design-phase considerations.

Discover practical construction risk management through 15 real world examples, from fall hazards and protection to transfer of risk, insurance, and strategies to reduce unforeseen conditions.

Understand essential construction site insurance policies and risk management, illustrated by a weekend water intrusion that flooded a 50,000-square-foot basement and required epoxy repairs.

Understand workers' compensation insurance, a mandatory no-fault coverage purchased by contractors for all employees, which pays medical costs and about 75% of lost wages, while limiting remedies and lawsuits.

Learn general liability coverage, including third-party and completed operations, and builders risk for the project under construction, plus wrap up or CSIP programs and typical deductibles.

Secure professional liability insurance (E&O) for design risk across designers, design-build teams, design-assist contractors, and construction engineers. Include equipment and pollution liability, mold coverage, and umbrella protection for excess claims.

Explore real-world insurance claim scenarios in construction, distinguishing builder's risk, general liability, workers' comp, professional liability, pollution liability, and tools and equipment coverage.

Identify and secure the key insurance policies, ensure every party on site has a current general liability policy and certificate in hand, and confirm limits meet contract requirements.

Learn how bonds complement insurance in construction, covering performance, payment, and bid bonds to protect projects and address risks on the job site.

A performance bond guarantees completion when a contractor defaults, with the surety stepping in to manage or pay a replacement contractor and cover remaining work up to the penal sum.

Explore how payment and performance bonds protect owners, subs, and suppliers under Miller Act, cover change orders, and explain bid bonds and bid security.

Explore how to manage a defaulted terrazzo subcontract by terminating for default, engaging the surety under a performance bond, and using retention and last payment to fund a replacement contractor.

Learn to secure the right bonds and insurance for subs and suppliers, follow contract steps and timing with the surety, and avoid overbilling to protect cash flow in construction projects.

Having completed the second block, the course moves into the third block, focusing on breach of contract changes, schedule updates, and earned value.