When answering this question, focus on demonstrating your expertise in cost management and risk mitigation. Start by explaining the importance of risk management in construction projects, emphasizing how unforeseen costs can impact the project's budget and timeline. Provide specific strategies you use, such as thorough initial cost estimation, continuous monitoring of project expenses, and contingency planning. Mention any software tools or methodologies you employ, like cost-benefit analysis, risk registers, or Building Information Modeling (BIM). Use examples from past projects to illustrate how you've successfully managed cost-related risks, highlighting any positive outcomes or lessons learned. Conclude by stressing your proactive approach and commitment to maintaining financial control throughout the project lifecycle.
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