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SAFE AND
SOUND
Modern construction projects face greater headwinds to success
By Sean Pender
Construction and development projects have always been inherently dangerous places . The movement of massive amounts of material and equipment by a large group of contractors in a confined space requires careful choreography by very experienced individuals with a great deal of oversight and supervision . To do that while also attempting to mitigate or eliminate risk to both lives and property makes the task that much harder . The modern construction project faces greater headwinds to success and profitability than have ever been seen .
The success of a project is heavily influenced by various factors : project complexity , quality control demands , contractual and legal obligations , supply chain disruptions , skilled labor shortages , and evolving environmental and regulatory compliance conditions . Adding to this challenge are construction loan interest rates that have surged , leaving owners and contractors tasked with managing complex projects with considerably tighter margins than in recent years .
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