AGC/FMI Risk Management Survey Reveals Changing Environment

In conjunction with FMI, AGC's Surety Bonding and Risk Management Forum recently completed a survey of the risks that AGC contractors are perceiving and how AGC contractors they are managing these risks.  The 83 responses that AGC and FMI received from 83 best-in-class companies that collectively perform approximately $50 billion of construction each year 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 a 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.