Large companies are under greater pressure than ever before to manage risk and protect their assets. Investors, shareholders, and regulators alike drive implementation of enterprise risk management programs, but those programs are not always effective. Let’s look at some of the most common mistakes made in addressing risk in larger companies and how they can…
The construction industry, and those related to it, including architecture and engineering, are heavily affected by risk. Every day, you put a team of skilled individuals in positions that could lead to injury. Mitigating and managing that risk is not a one task process. Good risk management for contractors requires a full understanding of every potential risk…
Insuring the property your business owns is essential to your long-term stability and profitability. This kind of policy can cover a variety of things depending on the type of property you have, the nature of the business you operate, and what the particular risks are in your area. Understanding the risks that impact your…
The potential risks that arise in the day-to-day operations of a construction business are substantial. Some are related to in-progress projects, while others may have to do with the fundamental structure of your business operations and accounting practices. Regardless of the specific risk, however, it’s important to take steps to mitigate and manage it in…