Plain, evidence-led writing on construction risk, loss data and the RDI framework. No thought-leadership theatre - just what we're learning from reading sites.
Premium answers mostly to the capital markets. The deductible is the term most often reported responding to how a risk is managed. That is where the return on sharing what a site knows is likeliest to show up.
Ask a contractor for site data and you will hear six good reasons not to share it. This piece takes them one at a time - and names the reader that changes the shape of all of them.
Most of the fees on a project's insurance pay for paperwork. The risk engineering fee pays for someone to go and look - which is why Pikt was built for the risk engineer.
One example project worked through Reality Capture Value, every step visible - and the part behind the arithmetic that no calculator can reach.
Any business asking for the market's time has to show where the value is. A start-up doubly so: no track record, no book, no years of goodwill - just a claim, and claims are cheap.
The project already held a record of how it was actually being built. It was not offered, and it was not asked for. Why Pikt starts with risk engineering.
Documents describe intent. Photographs record facts. The framework for capturing, verifying and acting on site reality - and the order those things have to happen in.
A BIM model is not a picture of a building. It is a database that happens to be viewable in three dimensions - and a record of intent, not fact.