Business Risk

How to Determine Whether a Project Is Worth the Risk

When presented with a project opportunity, many contractors quickly respond with enthusiasm before thoroughly considering whether taking on the project makes sense for their business. Fortunately, there is a better way to evaluate projects that balances the optimism of a win with the practical need to make a profit.

Major Events Affecting the Construction Industry

by Tyler Riddell | Dec 15, 2017
Business | Business Development | Business Risk | Economy

Events and issues plaguing the U.S. construction industry include a labor shortage, stagnant profitability and productivity, increasing construction material costs, environmental sustainability and technological advancements and disruption.

2018 Cyber Risk Outlook: What Construction Executives Need to Know

Unless the world stops using computers, cyber crime will continue to increase in the coming years.

The Importance of Having the ‘Right’ Attorney on a Contractor’s Expansion Team

by Peter J. Lamont | Oct 20, 2017
Business | Business Development | Business Risk | Legal and Regulatory

Before expanding, contractors should consult a qualified and experienced attorney to provide valuable insight and limit exposure, risk and liability.

Five Construction Problem Areas That Decrease Profits

by Construction Executive | Sep 14, 2017
Business | Business Risk | Finance

By making sure business aspects such as fleet management, safety, estimating and supply chain management are running smoothly, contractors can increase profits and improve business operations.

Managing Financial Risk for Subcontractors

by Construction Executive | Aug 29, 2017
Business | Business Risk | Finance

The further a participant is from the parties with the money, the more financial risk they take. To mitigate this risk, be prepared to send preliminary notices, read the contract, check the customer’s credit and ability to pay, and have a consistent and effective risk policy.

Pursuing Business With ‘Risky’ Accounts

by Nate Budde | Jun 23, 2017
Business | Business Risk | Risk | Risk Management

Companies that are reluctant to extend credit due to a limited appetite for risk are likely evaluating the problem without considering the factors in their favor. The protections against nonpayment available to parties in the construction industry make the decision to pursue business with traditionally “risky” parties much easier.

Five Ways to Combat Employee Theft in the Construction Industry

All businesses are susceptible to employee theft even with background checks and other means of ensuring a quality workforce. Most employees who steal are first-time offenders with a clean employment history. Talk to an insurance broker to be sure there is proper coverage and prevention mechanisms to minimize risk in the construction business.

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How to Determine Whether a Project Is Worth the Risk

Major Events Affecting the Construction Industry

2018 Cyber Risk Outlook: What Construction Executives Need to Know

The Importance of Having the ‘Right’ Attorney on a Contractor’s Expansion Team

Five Construction Problem Areas That Decrease Profits

Managing Financial Risk for Subcontractors

Pursuing Business With ‘Risky’ Accounts

Five Ways to Combat Employee Theft in the Construction Industry

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