6 Top Risks For The Construction Industry [SlideShare]

While the growth outlook for the construction industry continues to remain strong, emerging and existing risks will be a challenge for the industry. Contractors should be aware of the risks to help prevent costly disruptions and delays. Some risks of growing concern include:

• A skilled labor shortage which could lead to costly accidents and injuries.
• Construction defects claims due, in part, to a less experienced workforce.
• Overextension of resources potentially leading to a contractor taking on more projects than they have the capacity to handle.
• Fire due to poorly managed hot work activities or shortfalls in site security.

Understanding the risks and proactively mitigating them is critical to a contractor's ability to succeed in a changing market.