Key Takeaways: Identifying all potential risks is the foundation of any construction risk management plan. Prioritizing risks based on their likelihood and impact allows construction companies to focus on the most critical threats first. Ongoing monitoring and regular...
The construction industry is filled with risks and uncertainties. Different issues can arise at all times, so every business looks for ways to anticipate risks and minimize their impact. Vigilant risk management is essential in these efforts, which means that being up...
Key Takeaways: The construction industry is loaded with a lot of preventable risks. Construction site theft is creating significant financial drains for companies with inadequate security measures. Preventing contract-related risks requires thorough reviews of key...
Key Takeaways Asset tracking software like GoCodes helps construction companies mitigate the risk of construction site theft. Drones and wearable safety technology can reduce safety risks. The use of BIM leads to cost savings, as it helps prevent construction rework....
Key Takeaways: Determine whether live or online auctions suit you better. Thorough market research helps you avoid overpaying or buying faulty equipment. If inspecting equipment in person is not possible, detailed inspection reports help. Settling a clear budget...
Key Takeaways Market demand and equipment availability affect the cost of construction equipment. It’s important to consider the total cost of ownership when acquiring new equipment. Some construction professionals don’t like buying used equipment due to concerns...
