White Papers

Managing Risk in the Construction Industry

Issue link: https://gangbox.oncenter.com/i/882239

Contents of this Issue

Navigation

Page 0 of 5

WWW.ONCENTER.COM M A N AG IN G R IS K IN T HE CO N ST RUCT IO N IN D UST RY 1 T he re wa s a time whe n ma naging r isk in the c onstr uc tion industr y had more to do with ac c ounting for b r icks, mor ta r, a nd pickup tr ucks tha n se cur ing tablets, laptops, a nd sma r t phone s. Insur ing the c ompa ny tr uck wa s more cr itic al tha n e nsur ing all digital pla ns a nd a s sets we re se cure in the cloud or datac e nte r. Whethe r you're a small spe cialt y c ontrac tor or a la rge ge ne ral builde r, mak ing sure ade quate se cur it y p roc e dure s a re in plac e ha s neve r be e n more c omplex. With blue p r ints tak ing a backse at to digital pla ns a nd c onstr uc tion sof t wa re c or re c ting e r ror s a nd bala ncing the budget, ma ny c ontrac tor s, sub - c ontrac tor s, a nd e stimator s a re lef t re eling whe n it c ome s to ef fe c tively addre s sing the inhe re nt r isk in this te chnologic al revolution. Complic ating mat te r s is the da nge r of hir ing a nd retaining e nough sk ille d wor ke r s in a robust, high - de ma nd e c onomy. Not only is the re a shor tage of sk ille d labor, the wor k forc e is aging with 20 to 24 -ye a r- old wor ke r s mak ing up only a round 7 pe rc e nt of the wor k forc e, down from 11 pe rc e nt a de c ade ago, ac c ording to Constr uc tion E xe cutive maga zine. Having to hire outside a c ompa ny's c omfor t zone c a n also impac t produc tivit y levels a nd r un up r isk levels. Simply put, today's c onstr uc tion la ndsc ape is facing a pe r fe c t stor m of ma naging pe ople a nd p roc e s se s, alongside visible a nd invisible a s sets. In the de c ade sinc e the dawn of the iPhone, the se is sue s have grown expone ntially. Compa nie s a re not only spe nding hundre ds of thous a nds of dolla r s on physic al f ield e quipme nt, but also on te chnology, which c a nnot ne c e s s a r ily be chaine d, locke d, a nd hoiste d 10 0 fe et in the air. Managing Risk in the Construction Industry Today's construction landscape is facing a perfect storm of managing people and processes.

Articles in this issue

Links on this page

view archives of White Papers - Managing Risk in the Construction Industry