We can boost the economy with good risk management

By James Wates2020-03-12T06:00:00

James Wates outlines five key steps to improve risk management

A fuller picture emerges of the true value that construction delivers for the economy – and its potential to deliver more – in two recent reports from the CIOB and the CBI. There is no shortage of attempts to detail what is wrong with the sector but the CBI provides a helpful analysis of what is at the nub of the construction conundrum in Fine Margins: Delivering Financial Sustainability in UK Construction. In short, it’s about risk management.

As the report says: “Poor risk allocation between clients and contractors prevents construction projects from being procured and delivered successfully, and the prevailing industry structure leaves major contractors and their subcontractors especially vulnerable.”

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