In conjunction with FMI, Â鶹ÊÓƵ's Surety Bonding and Risk Management Forum recently completed a survey of the risks that today’s construction contractors have high on their radar screens -- and the various ways that contractors are dealing with those risks. The 83 responses that Â鶹ÊÓƵ and FMI received from 83 best-in-class companies collectively approaching $50 billion in annual volume suggest the following:
- Today's construction risk environment is drastically different than it was five years ago;
- Skilled craft labor shortages, contract language and subcontractor default are top risks in today's construction industry;
- Construction firms are managing risk differently today;
- Risk management effectiveness varies; and
- Mitigating and managing risk has become a strategic priority.
For the full analysis of the survey's results, simply . For more information on Â鶹ÊÓƵ's Surety Bonding and Risk Management Forum, contact Michael Kennedy at Â鶹ÊÓƵ of America at kennedym@agc.org.
Â鶹ÊÓƵ