FMI Corporation is pleased to announce the release of the latest AGC/FMI Risk Management Study: a survey of the risk environment in the construction industry.
This year’s study results indicate changes in the engineering and construction risk environment over the last three years and provide important data points regarding future risk management trends. Additionally, there is a growing number of contractors (43%) that are increasing their in-house design-capabilities.
All information is based on responses from best-in-class companies that are active in the Associated General Contractors (AGC) Surety Bonding and Construction Risk Management Forum.
The most significant current risks that the survey identifies are:
- Limited supply of skilled craftworkers (80%)
- Limited supply of field supervisors (44%)
- Changes in construction contract and insurance policy terms and conditions (33%)
- Tighter project schedules (30%)
- Increasing project complexity (19%)
And the most significant future risks include:
- Economic slowdown (58%)
- Limited supply of field supervisors (46%)
- Strategic agility, broadly defined as comfort with changing technologies and processes (39%)
- New company leadership/ownership (36%)
- Increasing project size and complexity (29%)
Read more about the 2019 AGC/FMI Risk Management Study and access the full report.
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