Using the bowtie method to evaluate the risks in a construction project

Abstract

The main goal of risk management in construction projects, is to give the companies and project managers different skill sets to deal with the threats that occur during all phases of the project.

The risk exposure for construction projects arise from the very beginning of the development idea, to the handover and operation. During all phases there are many aspects where risk is involved. A few of these aspects include, project material e.g. architectural drawings, communication platforms, safety of craftsman, weather conditions, force-majeure, finances and stakeholder engagement.

The bowtie method visualizes the hazardous events that are present during a project, it gives an overview of multiple plausible scenarios that can occur during a project. This article will give an explanation of the process and the different areas within this method. There will continuously be applications, within construction projects, for section that together create the bowtie method.