Risk Mitigation in an Evolving Construction Industry

As our industry professionals know, the larger construction industry is evolving in many ways. New technologies, materials disruption, supply chain breakdowns, and reinvestments into infrastructure are all changing how the design, build, and maintenance process succeed. 

On this episode of Ideal Conditions, a Polygon US podcast, Voice of B2B Daniel Litwin, talked with Tina York, Director of Client Development for the Southern Region, and Ryan Creagan, Director of Client Development for the Western Region. They break down what those evolutions and main risks are from start to finish and how this differs between the professional roles that bring a building to life. We’ll connect the dots to some solutions that are sure to give you a more holistic look at risk mitigation. 

According to an article in EY, there are a lot of these evolutions in the industry. “Construction companies will need to evolve, most notably by abandoning the linear and singularly focused business models they’re used to in favor of more data-driven and circular models,” the article stated. “Companies will especially want to understand and implement key technologies that help them keep pace with change, and accelerate the adoption of new processes, as well as customer and investor experiences.” 

The construction industry is dynamic and changes from day to day, according to Creagan, especially while managing on a project level. But, as you move up the food chain to the executive level, it is a bit broader with multi-project levels and in multiple industries.

“You’ve got to pivot very quickly in order to move in a positive direction from the industry trends,” Creagan said