Construction’s “No-Win”

Construction’s “No-Win”

Construction’s “No-Win” Risk Management/Transfer     A survey of 125 construction owners by Engineering News Recordfound that only half would hire the same construction firm again, a third of all projects were over budget, nearly half were completed late, and 13% were...
Risk Minimization

Risk Minimization

Risk Minimization (Part 2)   In last week’s blog, Construction’s No-Win, research data led us to the conclusion that risk cannot be effectively transferred in contract negotiations and that only highly competent contractors can manage risk for all stakeholders. “Risk...
The Surety

The Surety

  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”....