Engineering and construction firms are dynamic and inherently risky businesses. Historically, owners, chief financial officers or risk managers were the sole administrators of risk management. Today, however, the issue of risk is everyone’s responsibility, and a risk management culture must be engrained across the entire organization.
Nine elements that should be included in every construction firm’s formal risk management strategy
How to improve risk management by creating a corporate culture that’s focused on knowledge sharing, collaboration and learning
Surety bonding can serve as an effective tool to help protect general contractors from the challenges associated with subcontractor default.
As a leader, have you gone through times where successes of the past have clouded your judgment, leading to lost profits, defeat or failure? In the construction industry, we face the delicate leadership balance of taking the necessary risks to grow and benefit the company without tipping the scales […]
How to successfully transition ownership while managing risk in the process
How one construction conglomerate is developing effective leaders across 40 different companies and 200 geographically dispersed locations.
Operating a tightening labor market, engineering and construction firms need to pay close attention to salary, benefits and other labor-related trends that can help them avoid job delays, botched projects and profit losses.
During the past few decades, there have been dozens of large contractors that, after many years of growth and apparent prosperity, experienced notable financial disasters, resulting in bankruptcy or a reincarnation of the business in a much different form.
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