Risk Encounter Project risk in construction is defined in basic terms as unplanned cost or schedule changes that crop up during a construction project. Unplanned cost and schedule changes are ubiquitous in construction and have led to a universally negative...
The Surety Construction’s “Sports Book” Sureties operate the “sports book” for the construction industry. They handicap risk by setting rates and issuing bonds. They “book” the contractor’s bet that he will complete a project as contracted. They “set the line”....
Managing Risk in the Current Boom For the past year, this blog has been dealing with the risks hidden in growth and the strategy and tactics required to deal effectively with a volatile construction market. Let’s listen in to an enlightening discussion among...
Risk Analysis “Mitigating the Hidden Risks – In the “New Normal” construction environment the construction industry, high risk to begin with, is operating in a new post-recession landscape, characterized by tighter margins and serious labor shortages with less...
Present Moment Management During Evolving Market Cycles I have expressed concern since the onset of this pandemic that the construction industry does not recognize the reality of the market downturn that is overtaking us. It is difficult to react to changing market...
A Megaproject True Story You don’t have to look very far to find megaprojects to illustrate the causes of failure we have been discussing. The contracting team Purple Line Transit Constructors, building the Purple Line light rail in Washington D.C. announced plans...
