The report, which analyzed the entire construction industry, including healthcare projects, identified the following significant risks:
• Schedule and scope creep. Twenty-four percent of projects are delayed.
• Budget and cost overruns. Nineteen percent go over budget.
• Project process approvals, safety and site conditions.
• Disputes. Eleven percent of their projects get embroiled in disputes, with the average claim of $3 million, according to industry estimates
Despite the cost benefits mitigating, less than 25 percent of firms use formal mitigation procedures according to the report.
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