Building Success: Risk Management and Human Capital Solutions for Modern Construction

From groundbreaking to completion, we understand the complex risks facing today's construction operations. We’ve created a Financial Impact Report that focuses on aligning your business objectives with Risk Management and Human Capital solutions.

First, we ground our understanding of your business in the context of what is happening today in the wider industry…

Risk Management
The U.S. construction industry is experiencing a significant labor shortage, leading to increased competition for skilled workers and higher wages.
In August 2023, average hourly wages in the construction sector rose by 5.2% year-over-year to $36.70, marking a 17% increase since March 2020.
Source: DELOITTE
2024
Risk Management
Rising material costs and supply chain disruptions are impacting project budgets and timelines, necessitating enhanced procurement strategies.
The construction industry faced ongoing inflation and volatility in material prices throughout 2023, affecting overall project costs.
Source: DELOITTE
2024
Risk Management
Climate change is increasing the frequency of severe weather events, elevating risks for construction projects and necessitating robust disaster preparedness plans.
In 2023, the U.S. experienced 28 billion-dollar weather disasters, resulting in $80 billion in insured natural catastrophe losses.
Source: WIKIPEDIA
2024
Employee Benefits
The construction industry is investing in workforce development programs to address the skills gap and attract new talent.
In 2024, the industry aimed to attract an estimated 546,000 additional workers to meet labor demand.
Source: THE HARTFORD
2024
Insurance
Insurance premiums for construction projects are rising due to increased risks from natural disasters and higher material costs.
In 2022, premiums in Florida for commercial property insurance doubled over the preceding year, with further increases expected due to heightened hurricane-related risks.
Source: WIKIPEDIA
2024

We search for both Visible and Hidden Risks in your operations.

Visible Risks

  • Project Delays and Cost Overruns
  • Property and Equipment Damage
  • Workers' Compensation
  • Vehicle Fleet
  • Subcontractor Default
  • Construction Defects
  • Site Security

Hidden Risks

  • Supply Chain Disruption
  • Labor Shortage and Skilled Worker Retention
  • Technology Integration Challenges
  • Design Professional Liability
  • Environmental Compliance
  • Material Price Volatility
  • Project Financing Changes
  • Regulatory Changes
  • Cybersecurity in Smart Buildings
  • Weather Impact on Projects
  • Contract Risk and Dispute Resolution

Next, we apply our EBITDA Edge framework to your business…

1

Discovery

  • Comprehensive project portfolio analysis
  • Equipment and safety program assessment
  • Historical loss pattern evaluation
  • Subcontractor prequalification review
  • Project delivery method analysis
2

Risk Mitigation

  • Custom safety and loss control programs
  • Quality control procedures
  • Worker safety certification programs
  • Subcontractor management protocols
  • Project scheduling optimization
3

Modeling & Analytics

  • Project cost impact analysis
  • Weather delay modeling
  • Labor cost trending
  • Equipment utilization optimization
  • Risk-adjusted scheduling
4

Claims Process

  • 24/7 incident reporting
  • Mobile-first documentation systems
  • Rapid response protocols
  • Project delay mitigation
  • Subcontractor claim management
5

Risk Transfer

  • Project-specific coverage design
  • Controlled Insurance Programs
  • Alternative risk financing
  • Subcontractor default insurance
  • Professional liability solutions

We focus on the business drivers that impact your business…

    • Market sector diversification

    • Geographic expansion planning

    • Public-private partnership opportunities

    • Design-build capabilities

    • Sustainable construction practices

    • Technology-enabled services

    • Vertical integration strategies

    • Joint venture opportunities

    • Supply chain optimization

    • Equipment fleet management

    • Labor force development

    • Technology integration

    • Quality control systems

    • Safety program enhancement

    • Regulatory compliance

    • Sustainability initiatives

    • Working capital management

    • Equipment financing strategies

    • Project financing structures

    • Balance sheet optimization

    • Bonding capacity management

    • Joint venture structuring

    • Merger and acquisition support

    • Tax and insurance efficiency

Lastly, to execute on our goals, we’ve created a suite of world-class tools customized specifically for the construction industry…

📊

Risk Mapping Edge

Comprehensive analysis of construction operations to identify and address unique risk exposures across your entire project portfolio.

  • Project risk assessment and construction phase mapping
  • Subcontractor qualification and performance evaluation
  • Supply chain vulnerability analysis for materials and equipment
  • Site-specific safety and environmental risk assessment
  • Contract risk and liability exposure mapping
🔍

Risk Insight Edge

Strategic analysis of construction industry trends and emerging opportunities in modern building practices.

  • Building Information Modeling (BIM) implementation strategies
  • Sustainable construction and green building opportunities
  • Modular and prefabrication adoption assessment
  • Technology integration and digital transformation pathways
  • Market sector diversification opportunities
📈

Market Intelligence Edge

Deep understanding of construction insurance markets and rate environments across different coverage lines.

  • Project-specific insurance market conditions
  • Controlled Insurance Program (CIP) optimization
  • Professional liability market trends
  • Subcontractor default insurance analysis
  • Emerging coverage options for modern construction risks
💹

Pricing Edge

Strategic approach to optimizing insurance costs through risk quality improvements and effective program structuring.

  • Safety program enhancement for premium reduction
  • Experience modification rate optimization
  • Project loss control strategy development
  • Alternative risk financing analysis
  • Insurance program consolidation opportunities