Commercial Construction Risk Report 2024

This report details the risks faced by the commercial construction industry in 2024, highlighting the significant contributions of the sector to the U.S. economy. The construction industry employs over 8 million people, with total spending estimated at nearly $2.1 trillion. The report outlines key risks identified through a survey of 500 U.S. commercial general contractors and construction managers, including cybersecurity threats, labor shortages, cost overruns, and economic downturns. It emphasizes the gap between awareness of these risks and preparedness to manage them, particularly for mid-sized companies. The report also discusses the implications of a skilled labor shortage, the aging workforce, and the need for improved safety training. Additionally, it addresses the integration of new technologies and the associated risks, such as cyber threats. The findings aim to equip industry professionals with knowledge to identify, evaluate, and mitigate these risks effectively.