Jill Masur | Construction Executive Contractors may need to revisit some of the processes in their accounting and financial operations. Here are six strategies for construction companies to insulate against cost increases and mitigate financial risks. It’s clear that, at least for the next year or more, the construction industry can expect unpredictable cost variations.… Continue reading Well-Insulated: Predict the Unpredictable Construction Costs
Tag: Risk Mitigation
Risk Awareness and Mitigation in Disaster Recovery: During a Catastrophe
Jon Critelli, Randall Coxworth, Paul Ryan and Christian Gordon | StoneTurn In 2022, the United States experienced 18 separate weather and climate disasters costing at least one billion dollars according to NOAA. In 2023, that number rose to 28 separate billion dollar weather events. The frequency and large geographical areas that these catastrophes are impacting means owners… Continue reading Risk Awareness and Mitigation in Disaster Recovery: During a Catastrophe
Protect Projects From Higher Repair Costs and Property Damage
Michael Teng | Construction Executive The cost of risk—and mitigating it—has increased in construction. It’s a trend that mirrors economic headwinds that are expected to continue in 2024. Every aspect of a jobsite costs more today, from materials and labor to tools and equipment. Take construction input costs for example. While relatively flat in 2023,… Continue reading Protect Projects From Higher Repair Costs and Property Damage
Embracing Generative Risk Mitigation in Construction
Georgia Stillwell | Construction Executive Project delays have long plagued the construction industry, with risk often identified as the primary culprit. However, finding effective solutions to mitigate risk on complex projects has remained daunting. Traditional methods for simulating risk primarily focus on extending project timelines, overlooking the diverse range of opportunities available for risk mitigation.… Continue reading Embracing Generative Risk Mitigation in Construction
The Benefits of Early Geotech Risk Mitigation
Bill Thompson | HKA Of all the risks engineers, contractors, and owners face on construction projects, unknown ground conditions are some of the most critical and costly. Expansive or corrosive soils, depth to bedrock, high groundwater, and a number of other geotechnical challenges can jeopardize the integrity of any structure — as well as the… Continue reading The Benefits of Early Geotech Risk Mitigation