Execs Believe Managing Risk Is Their Biggest Challenge
Most of the worlds largest international construction firms believe properly managing and pricing risk is their biggest challenge, according to a new survey of 25 megafirm CEOs and top officials by management consulting firm KPMG International.
KPMG says risk management topped the list of company challenges, with 63% of respondents citing it as one of their top three. Shortage of qualified "resources" and securing future workload were the next challenges respondents noted (see chart). The survey was conducted earlier this year among construction megafirms, with 64% of respondents having revenue of more than $1 billion and 59% working multinational. Firms identities were not disclosed, but their base countries include the U.S., U.K., Australia, China, Japan, France, Germany, Malaysia and Sweden. Click here to view chart