AGC/FMI 2016 Risk Management Study
The construction industry has bounced back from the Great Recession and is currently one of the best-performing sectors within the U.S. economy. Though contractors have strong backlogs and plenty of work, many are still struggling to find qualified workers, according to Ken Simonson, AGC’s chief economist. Such ripple effects of the recession—during which 1.5 million workers left the construction workforce— continue to impact the construction industry as project costs continue to rise, skilled labor shortages persist, competition is fierce, and owners place increasing pressure on contractors.
It is within this new world that AGC’s Surety Bonding and Risk Management Forum—in collaboration with FMI—ventured out to survey contractors’ perceptions of risk and learn how risk is being managed in today’s business environment.
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