Commercial Risk Management – Structural Engineering Industry

Structural engineering is the beating hard of the modern world as we know it. Utilising tried and tested construction concepts to implement bespoke bu

Structural engineering is the beating hard of the modern world as we know it. Utilising tried and tested construction concepts to implement bespoke building projects, structural engineers are a fundamental member of the design and construction in 2021. 

In this article, we aim to take a deeper dive into the world of structural engineering and provide a clear breakdown of the risks involved when working within the industry. The first step to protecting your business from risk is understanding the industry inside out. 

What Is Structural Engineering? 

Structural engineering primarily takes responsibility for the design of modern structures. They are employed to make sure that the structure is sound from a stability and durability standpoint and help to prevent unsafe building designs from going ahead. In this day and age, structural engineers are involved with a range of projects from new domestic home construction to large skyscraper style office blocks. 

In earthquake and natural disaster-prone countries, this role is slightly adapted, a structural engineer is often put in charge of ensuring the building design is rigid and can withstand these extreme events which can end up thousands of lives. Structural engineers will closely work with architects and designers to help make sure the project is highly stable and safe to go ahead. 

Specialist Equipment Required To Complete The Contract

When working within the structural engineering industry the humble pen and paper will always be a best friend. Whether it be jotting down the odd note or accurately recording readings, paper is always available to help. There is also a heavy reliance on structural engineering equipment. From flaw detectors to laser distance meters, this equipment is essential for completing your job and if there were to be a breakdown you are at risk of not being able to complete the contracted work. Without adequate cover, you may be left to deal with these costs yourself. 

Danger To Employees of A Structural Engineering Company 

When working within the construction industry, you are surrounded by risks at all times. The most obvious of these is when working on an active site which is frequent for structural engineering employees. Managing this risk is an essential part of running a business within this industry and failure to do so can result in harm to employees and huge claims against the business. The best way to stay on top of this risk is to invest in the correct personal protection equipment which ensures that no matter what environment you are in, there is suitable safety equipment in place. 

Managing The Risk Presented To Members of The Public 

Regardless of what sector you work in, there is always a risk to the general public. This is especially true for those working within the structural engineering industry. When contributing to the design of a building the responsibility is yours to ensure the public cannot be harmed by the structure. Ensuring that the building is structurally sound is a minimum requirement, it’s often your responsibility to see the project through to make sure that the standards you have set out for the project are being stuck to correctly. Public liability insurance is an amazing way to achieve this as it offers you the 

Disputes Over High-Value Structural Engineering Contract 

The most important part of any contracted work is that the end client is happy with the project. Disputes with the client can not only be stressful to those managing the project but they can be extremely costly. If a client believes that the contract has not been completed this will often lead to claims being made against the company which often cost money to set right as well as substantial legal costs which your company may have to fork out to cover. 

Managing Risk Within The Structural Engineering Industry 

The single most effective way to manage all of these common risks in one place is by investing in a structural engineering insurance policy. This will consist of a range of insurance products that are tailored toward protecting your business from a wide range of risks that your company is vulnerable to on a day to day basis. It’s this level of protection that can save your business from claims which may end business as you know it.