In conjunction with FMI, AGC's Surety Bonding and Risk Management Forum recently completed a survey of the risks that today’s construction contractors have high on their radar screens -- and the various ways that contractors are dealing with those risks. The 83 responses that AGC and FMI received from 83 best-in-class companies collectively approaching $50 billion in annual volume 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 the full analysis of the survey's results, simply click here. For more information on AGC's Surety Bonding and Risk Management Forum, contact Michael Kennedy at AGC of America at kennedym@agc.org.
Industry Priorities