@Risk

Even though bottom-line and performance risks are regarded as the most serious threats facing the construction industry, few construction firms use formal risk mitigation procedures, according to McGraw-Hill Construction’s latest SmartMarket Report.

As the report points out, the complexity of today’s construction projects creates greater risks for inefficiencies than those faced by other industries. For example, participants in the study revealed that:

• Firms experience delays on nearly one-quarter (24 percent) of  their projects.
• 19 percent of projects go over budget, and the overrun averages 14 percent of the total project cost.
• 11 percent of projects experience disputes, with an average claim of more than $3 million.

Addressing risks like these early can help firms achieve significant cost benefits, and the report suggests that construction firms begin to focus on: (more…)

Now that labor costs in China are on the rise, high-tech companies in Asia are exploring alternative sourcing locations within the region, as well as in North America.

In fact, according to new research from UPS, half of all high-tech trade lanes in five years’ time are expected to involve intra-Asia movements.

The annual survey, conducted by IDC Manufacturing Insights, polled senior-level decision makers at high-tech companies in the Asia Pacific region. The results show that: (more…)

Last spring, European credit risk managers were somewhat optimistic about delinquencies across mortgages, auto loans and other credit products.

Now, much of that confidence seems to have evaporated.

The third European Credit Risk Survey, which was conducted by FICO and Efma in September, found that: (more…)

Email is fundamental to business communication.

But is this commonplace, everyday electronic correspondence a threat to your company’s data security and regulatory compliance?

It very well could be, and according to a recent study by Zix Corporation and Ponemon Institute,  IT professionals are growing increasingly concerned about these risks, especially now that more and more  business is conducted outside the office using mobile devices.

The survey, which received feedback from 830 IT and IT security practitioners, as well as IT compliance, legal and other specialists, found that: (more…)

Most people would agree that the first step in solving a problem is admitting that yes, indeed, there is a problem.

So, how are companies going to implement effective risk and compliance management practices if they don’t even realize the impact of risk or compliance failures on their organization?

A new report written by the Economist Intelligence Unit illustrates my concerns.

After a worldwide survey of 385 senior executives from the finance, risk, compliance and legal functions across six industries and the public sector, the data shows that few companies have the ‘big picture’ view needed for effective risk and compliance management. Even though they understand the importance of an integrated approach to these activities, many have short-sighted practices that end up becoming costly and complex burdens. What’s more, these disparate responses often keep the “true” level of risk out of sight of the wider organization.

For example, the study found that: (more…)