Discover how top UK construction companies are managing the most pressing threats to their businesses
What do the UK’s leading contractors perceive as their biggest business risks? Brexit? Supply chain failures? Contract disputes? And how are these risks being managed?
The construction industry is facing some of its biggest challenges in decades, with new opportunities – and threats - emerging for contractors. With the industry in a state of flux, construction companies could benefit from benchmarking their risk perception – and management – against that of the industry’s major players.
We analysed the top construction companies in the UK to discover how they perceive, quantify and manage the risks to their businesses. The results can be found in the Contractor Risk Review 2020 (CRR), the new white paper from Marsh JLT Specialty’s Construction, Infrastructure and Surety Practice, which is available for download now.
The report focuses on the UK’s largest contractors, by revenue, which are involved in civil engineering and/or construction works, and have made their information publicly available. Our team processed these companies’ data to determine their 10 most pressing risks. The Contractor Risk Review 2020 contains a detailed analysis of our findings.
Some of the notable findings include
- A placing in the top 10 for Data Governance and Cyber Security, one of the fastest developing and highest profile business risks in recent years.
- Multiple risks affected by the industry’s ongoing skills shortage.
- The number of risks emerging from companies’ cultures, strategies and business activities.
With Brexit looming in the coming months, and the full impact of the COVID-19 pandemic becoming apparent, the risk landscape for construction companies is evolving rapidly. By pinpointing the key risks, and sharing ‘best in practice’ risk management, we aim to fully inform companies of the challenges ahead and how those challenges may be overcome.