Cian BrennanFounder, Quantum Contract Solutions · Founder

Risk is Part of Construction

Name: Risk is Part of Construction
Uploaded: 2024-07-22T19:00:12+00:00
Duration: 25 s
Channel: Cian Brennan
Description: In this brief segment, the speaker highlights the often‑overlooked "invisible cost" of risk in the construction industry. While risk is an inherent part…

22 Jul 2024 · 0 min

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In this brief segment, the speaker highlights the often‑overlooked "invisible cost" of risk in the construction industry. While risk is an inherent part of construction, many firms fail to feel its impact until a negative event—such as a client’s non‑payment or bankruptcy—occurs. The speaker notes that such events can set a company back years, even after periods of rapid growth. The core message is that proactive risk management is essential to prevent catastrophic setbacks and to enable continuous, sustainable growth.

There's the invisible cost of risk. So a lot of people think that risk is, you know, they just— risk is part of construction. It is part of construction, it's always there, but sometimes you don't feel it because it hasn't happened to you. And I've seen a lot of companies just grow and grow and grow, and then they just get hit with something bad happens. They don't get paid by a client, a client goes out of business for whatever reason, and it sets them back 5 years. That's kind of what we want to make sure it doesn't happen, so you can continue to grow and grow and grow.