Construction

The top five business challenges:

  1. Labor Shortages: Finding and retaining qualified workers is difficult due to factors like an aging workforce and competition from other industries. The demand for skilled labor often outpaces the supply, leading to higher labor costs and potential project delays.
  2. Rising Material Costs: Fluctuations in the cost of construction materials, such as steel, lumber, cement, and petroleum-based products, can significantly impact project budgets. These price increases can lead to budget overruns and reduce profit margins, making it crucial for construction companies to manage their procurement effectively.
  3. Regulatory and Permitting Issues: Ensuring compliance with local, state, and federal laws, as well as meeting environmental and safety standards, can be time-consuming and costly. Delays caused by permitting issues can hinder project progress.
  4. Project Delays and Budget Overruns: Common issues due to various factors, including weather conditions, labor shortages, supply chain disruptions, design changes, and unforeseen site conditions. These challenges can damage profit margins, client relationships, and lead to contractual disputes.
  5. Safety and Risk Management: Maintaining a culture of safety, compliance with safety regulations, and providing adequate training and resources to ensure worker safety are critical. Failure to address safety concerns can result in legal liabilities and reputation damage.

Benefits of Compliance for Construction

  1. Data Protection: Safeguard sensitive project data, client information, and intellectual property, reducing the risk of data breaches, cyberattacks, and unauthorized access.
  2. Regulatory Adherence: Meet industry-specific and legal requirements, avoid costly penalties, legal liabilities, and regulatory fines (PCI DSS, GDPR, CCPA).
  3. Client Trust and Competitiveness: Demonstrate a commitment to securing client data, enhancing trust, and making construction companies more competitive in a security-conscious market.
  4. Risk Mitigation: Identify and mitigate security risks, reducing the likelihood of costly security incidents and protecting your reputation.
  5. Supply Chain Security: Standards extend to suppliers, improving the security of the supply chain ecosystem and reducing vulnerabilities associated with third-party vendors.

ComplySAM for Construction

+ Comprehensive customized security program

+ Efficient & affordable readiness analysis

+ Supply Chain & Risk Assessments

+ Cyber liability insurance

+ Security & Privacy Training

+ Framework best practices (CMMC, PCI, GDPR, SOC 2)

+ Hands on Data Protection Officer (DPO) & Chief Information Security Officer (CISO) if needed

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