In conjunction with FMI, AGC’s Surety Bonding and Risk Management Forum recently completed a survey of the risks that AGC contractors are perceiving and how AGC contractors they are managing these risks. The 83 responses that AGC and FMI received from 83 best-in-class companies that collectively perform approximately $50 billion of construction each year suggest the following:
- Today’s construction risk environment is drastically different than it was five years ago;
- Skilled craft labor shortages, contract language and subcontractor default are top risks in today’s construction industry;
- Construction firms are managing risk differently today;
- Risk management effectiveness varies; and
- Mitigating and managing risk has become a strategic priority.
For a full analysis of the survey’s results, click here.