Managing Risk in the Construction Industry

Full Description

Construction has always been an industry with a high level of risk. Increasing project complexity, large project teams and the inherent physical dangers of the work itself all contribute to this reality. However, too often the industry accepts high risk as a standard operating condition. As construction activity accelerates after the recession, improving risk management is as important as increasing productivity, safety and pro¬tability, so we believe this study is both critical and very timely for the industry. While built upon the foundation of the seminal risk management study Dodge Data & Analytics (then McGraw Hill Construction) conducted in 2011, this study takes a broader approach with over 500 respondents representing a wide range of building sectors, including general building, institutional, industrial and non-building (horizontal infrastructure).

The study reveals that risk continues to have an enormous impact on the construction industry, with three quarters (75%) of respondents reporting that they have experienced a dispute or claim in the last ¬ve years.

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