Crisis Readiness and Response: Steps to Proactively Preserving Your Company’s Reputation
January 1, 2014 / Publications / Construction Today
By: Jennifer Horn and Cal Beyer
The construction industry is fraught with risk. The natural complexity of construction operations is compounded by increasingly tight schedules, innovative delivery methods, alternate project financing arrangements, weather and a host of other external factors.
The construction industry is capable of producing catastrophic events. The insurance industry regards construction as a “high severity” industry. In fact, the construction industry produces a significant proportion of jury verdicts greater than $1 million.
It is not possible to enumerate all types of events and incidents that can turn into construction crises. Below are representative critical events that are typical if the incidents that warrant proactive crisis management readiness and response.