Risk Management

WASHINGTON, Oct. 29—The construction industry had 288,000 job openings on the last day of September, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening ...

While legal considerations are often the last thing on the minds of project owners and contractors during an emergency, construction industry stakeholders should bear in mind the impact of natural disasters on their legal rights, remedies and potential exposure to claims. For al...

In the realm of construction—where every project involves a multitude of moving parts, uncertainties and potential hazards—effective risk management is the key to preventing costly project interruptions. A well-executed site safety plan can help prevent tragic injuries. According...

More than two feet of rain drenching Fort Lauderdale in a day, baseball-sized hail chunks falling on Minneapolis and the deadliest wildfire in more than a century destroying more than 2,100 acres of Maui—2023 was a stark reminder that Mother Nature is a force to be reckoned with....

In the United States, there is currently an unprecedented level of construction projects surrounding infrastructure improvement and development, manufacturing facilities, data centers, critical minerals mining, transportation and affordable housing. These massive undertakings are...

That sinking feeling has crossed everyone’s mind at some point: "Did I accidentally throw out...?” It can happen to anyone, from valuable jewelry to uncashed checks or even (in the case of one contractor) to fire-pump control cabinets. Demolishing the wrong equipment is a concer...

As severe weather events become more frequent and costly, contractors face a greater risk of downtime on projects. Few industries have also felt the ripple effects of materials costs and supply-chain disruptions quite like construction. Combined, both trends pose a significant r...

Theft of equipment and materials costs the construction industry between $300 million and $1 billion every year, according to the National Insurance Crime Bureau and the National Equipment Register. Loss is expensive and crime happens in seconds—fewer than 25% of stolen goods are...

As the construction sector embarks on another fiscal year, prioritizing health and safety is increasingly imperative. New industry-specific safety research and technology aims to help directors effectively optimize their financial resources and more precisely understand the econo...

The construction industry is impacted by regulatory and legal changes at the national, state and local levels. These changes are not always consistent, and at times the regulations issued at the federal, state and local levels are contradictory. Staying current with these require...