If human beings are nothing else, we are adaptable creatures. The unfamiliar can be overwhelming and new processes almost always ignite some pushback. I’m sure in the beginning, the thought of using a 3D printer to produce sustainable construction materials had a crowd of folks scratching their heads. But while this technology can still feel out-of-pocket to some, it’s looking more and more like the industry’s future with a list of successful projects and long-term business advantages to tout.
What is a Construction Contract While talking about construction contracts and their importance may seem like a repetitive topic, it is one of the most important aspects when considering the construction industry and the success of key players. A construction contract is the method by which terms, conditions, and the fine print of a project and agreement are legally bound together. The contract is a solidified deal made between the parties (usually two—the owner and the contractor) involved in the specified project.
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The labor shortage in construction is something contractors have dealt with for decades. The pandemic certainly exaggerated the impact of shortages, but there were fewer and fewer recruits even before the Great Recession. With an aging labor force and a huge demand for labor, the shortage has reached an all-time high.
We’ve compiled the list of Top 10 Most Frequently Cited Standards for Construction for fiscal year 2022 (October 2021 through September 2022).
Running a successful construction company isn’t easy. The industry is full of risks and challenges that can lead to failure. According to data from the Bureau of Labor Statistics, of the 69,296 private construction firms that started operation in 2001, 56% were still around three years later, 26.6% made it to year 10, and only 17.2% were still in operation 20 years later. That’s a failure rate of nearly 82.8%. Let that sink in for a bit.
In 2020, the CDC found that the construction industry has the second-highest suicide rate in the country, and construction workers are 3.5 more likely to die by suicide. With the suicide rate in construction ranked as one of the highest by occupation, industry leaders and members must take the necessary steps to educate and support those at risk. In addition to spreading awareness and education around the topic, something more sustainable and lasting must be done to help prevent and reduce suicides in construction.
There are approximately 133 deaths by suicide per day in the United States. This equates to someone taking their own life every 11 minutes. To better understand the causes and how to combat this issue, the Center for Disease Control and Prevention conducted a survey to discover which industries and occupations were at the most risk for suicides.
Construction Risk Management: What Contractors Should Know As a construction contractor, you likely contend with multiple risks each day. Every project on which you perform work is unique and likely involves both risks and potential benefits. To be more successful, you must understand how to identify and manage risks on construction projects to help avoid potentially detrimental issues.
Construction sites can be a dangerous work environment. Safety managers and project managers are tasked with identifying and eliminating hazards to ensure the safety of everyone on the jobsite. Conducting a job hazard analysis for each job on a project is an effective method for mitigating potential hazards and protecting workers.