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In an industry with low project margins, a high level of unpredictability, and fierce competition (both domestic and international), it does not take much to turn a profitable project into a loss-making project, putting the whole business at risk.
nPlan's AI project risk management is being used on an $11-billion UK rail program. The company is looking to eventually replace traditional construction risk-prediction methods.
Associated Builders and Contractors members and subs will stay exempt from mandate for federal contractors, but it could take effect for non-construction US contracts in all but seven states, appeals court ruled.
As the current pipeline of infrastructure projects becomes larger and ever more complex, contractors are making increasingly risky bets that projects will be delivered on time and on budget. In the last year alone, we've witnessed two global contractors either file for creditor protection or go into liquidation.
When crunching the numbers on the construction wrap-up program for the T-Mobile Arena project outside Las Vegas, insurance broker Aon Risk Services South allegedly failed to take into account a Nevada workers’ compensation rule, one of many intricate features of the state’s workers’ compensation regulations.
The National Aeronautics and Space
Administration will help the Bureau of Safety and Environmental Enforcement to analyze and reduce risks for offshore oil-and-gas operations under a memorandum of understanding signed on March 17.