“These don’t apply to my business.” We had just presented a client with a proven list of 75 risk factors that can impact a construction company’s ability to make a profit. He circled 20 and said the rest were of no consequence. If we hadn’t previously run a number of construction companies and closely observed... Read More
In this post, we’ll give some background on the growth of Enterprise Risk Management and how it relates to the construction industry, and explain why adopting an Enterprise Risk Management philosophy for running your construction business is a wise decision. We say philosophy, because at its core, ERM is a shift in thinking, a shift in... Read More
The construction industry is full of unending challenges, requiring high energy and constant problem solving. The company owner is like a juggler with 50 balls up in the air (potential problems); if any drop (actual problem) it could cause all the rest to drop as well (total problem i.e. business failure). The large amount of... Read More
Today I met an individual who asked what I did for a living. I was somewhat distracted and mumbled the word “risk management.” As I regained my focus this gentleman said “Oh, you’re a risk manager. I’ve had trouble with my Workers’ Compensation…” and he began to talk about insurance. This was a prime example... Read More
