article thumbnail

Controlling Total Cost of Risk in Construction

Construction Business Owner

Controlling Total Cost of Risk in Construction Four key strategies to improve total cost of risk and drive successful construction outcomes mhodges Wed, 02/28/2024 - 10:14 The global construction industry is expected to grow by 85% to $15.5 trillion by 2030, but this growth comes with risk management challenges.

Risk 358
article thumbnail

Top 5 Risks for Set-Aside Contractors

Construction Business Owner

Top 5 Risks for Set-Aside Contractors. Federal projects are a big deal for small contractors. But the risks can be big, too. For small or historically disadvantaged businesses, federal projects are often out of reach—in part because smaller contractors don’t always qualify for bonds needed for a federal contract.

Risk 177
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Improved Change Order Communication Can Reduce Risk for all Stakeholders

Construction Business Owner

The results of an outdated change order process include wasted time for all project team members, increased financial risk, lack of real-time statuses and uncaptured valuable data and insights. That's when he started Extracker to bring real-time collaboration on project costs between subcontractors, general contractors and owners.

article thumbnail

5 Ways Contractors Can Improve Profitability

Construction Business Owner

5 Ways Contractors Can Improve Profitability. How to reduce the risk of every project. How agile project management can help you reduce project risk. reduce risk. Greg Ragsdale. Tue, 09/29/2020 - 11:13. Your accounting team has an opportunity to make a major contribution to your firm’s bottom line. Accounting & Finance.

article thumbnail

Expert Insights: How Technology Helps Bridge the Supply Gap

Construction Business Owner

With labor and supply chain shortages plaguing the construction industry, building strong relationships between contractors and their suppliers is more important than ever. Technology can aid contractors, strengthen relationships and create efficiencies to help boost the bottom line.

article thumbnail

Construction Safety Degrees: What to Expect

Construction Business Owner

Columbia Southern University’s bachelor’s in occupational safety and health with a concentration in construction safety covers relevant topics handling hazardous materials, contractor safety, risk management and more.

Safety 177
article thumbnail

Why You Need Connected, Accessible Project Data

Construction Business Owner

But without knowing how to connect the data and provide easy real-time access to it, you can’t minimize the amount of risk and maximize productivity in your capital projects.