Aon Risk Solutions has published its 2011 Construction Industry
Report, which reflects the input of 60 global construction industry
respondents to the firm’s Global Risk Management Survey. The report underscores
the importance for organizations to embrace an enterprise-wide risk management
approach that is globally optimized.
The industry’s top four risks, as identified by survey
respondents:
- economic slowdown;
- increasing competition;
- damage to reputation/brand;
- failure to attract or retain top talent.
Regulatory/legislative changes and third-party liability were
tied for the fifth spot.
“The construction industry is expected to grow 67% by 2020,”
says Aon’s Mary Ann Krautheim. “Business leaders who use an enterprise-wide
approach to identifying and assessing risks today will emerge from the economic
storm in a stronger position with a larger market share.”