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
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 […]
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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