An essential component of troubleshooting is risk management; that is, limiting the amount of trouble that will need to be "shot." A wide variety of factors present potential risk in a construction project: site conditions; design assumptions; public regulations; worker safety; and environmental concerns and regulation, to name a few. As a result of the increasing number of risks, owners have taken to sharing it by requiring that a builder be at least partially liable in the event of a loss due to these factors [source: Hendrickson].
It is therefore the PM's job to analyze risks going into the project so that both the builder and the client are aware of them and can reach a mutual agreement on how the risk will be shared. Once construction is underway, the PM must try to mitigate the risks by carefully selecting materials and equipment and closely monitoring the work being performed [source: Hendrickson].