Many people might not think that construction cyber risk is something that is required in the field of construction.
This is because the construction industry works to make buildings and houses and most people would not think that cyber security in the construction industry would be something in which companies would consider or be willing to invest. However, the thing to note is that construction cyber risk is something that is a very valid and likely risk and is, therefore, important for companies to consider while investing in and growing their brands.
Today, technology is used across the board in various aspects of design and construction.
People working in the construction industry tend to face many cyber risks, such as unauthorized access of data that has been uploaded to the cloud. To make communication more efficient and effective amongst construction workers, platforms have been created that work to allow the contractors, designers, as well as owners, the capability to access and use the project data all at the same time. With valuable information accessible through multiple access points, the likelihood of a cyber threat is high.
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Construction cyber risk tends to affect many different stakeholders.
The stakeholders include people working in the construction industry that are responsible for handling, hosting, storing, and transmitting information that can be classified as being sensitive and proprietary. Some of these types of information include intellectual property, the data of the employees and hired contractors – e.g. their health data, the client data, as well as the confidential project information that people require for the completion of the project.
Software management platforms are designed to efficiently distribute and manage quite a lot of data.
This data can include construction data as well as engineering data. When information is shared using such platforms, there is always an inherent cyber risk involved. A hacker with bad intentions can intercept the construction data and can cause many problems, including the destruction and corruption of the stolen data. The hacker might also change the engineering plans, which if go unnoticed, can result in a disaster once the building has been completed. Other than that, the corruption of data can also threaten the safety of the construction workers on the site. Moreover, hackers might also be working for rival companies and even if they are not able to change the data or information, they can work to extract it, resulting in corporate espionage.
In this regard, it is critical for construction companies to have a secure network to reduce their construction cyber risk.
It is imperative for construction companies to keep track of their data so that they can determine if there has been any data leaked or compromised. In this regard, it is also important for construction companies to encrypt their data in all stages of the data transfer process, including when the data is at rest and when it is being received and transmitted.
FAQs: Construction Cyber Risk
What is construction cyber risk, and why is it relevant in the construction industry?
Construction cyber risk refers to the potential threats and vulnerabilities associated with digital data and communication systems in the construction industry. It is relevant because technology is widely used in construction, making sensitive data susceptible to cyber threats.
What are some common cyber risks faced by construction professionals?
Construction professionals may face risks like unauthorized access to cloud-stored data, data interception, corruption of information, and potential corporate espionage. These risks can impact project data, intellectual property, employee information, and more.
Who are the stakeholders affected by construction cyber risk?
Construction cyber risk affects various stakeholders in the industry, including contractors, designers, owners, employees, and hired contractors. They handle sensitive and proprietary information like intellectual property, employee data, client information, and confidential project data.
How do software management platforms contribute to construction cyber risk?
Software management platforms are designed to efficiently handle and distribute construction and engineering data. However, using such platforms can introduce cyber risk if not properly secured. Hackers may intercept, corrupt, or steal data, potentially causing serious problems.
What steps can construction companies take to reduce construction cyber risk?
Construction companies can reduce cyber risk by maintaining a secure network, tracking data for potential leaks or compromises, and encrypting data during all stages of transfer. These measures help protect sensitive information and prevent unauthorized access.
How does eSUB address construction cyber risk for its clients?
eSUB’s subcontractor management software ensures the security and encryption of client data before uploading it to the cloud. The system grants access only to authorized personnel, and eSUB employs a firewall to safeguard client data. eSUB’s advanced solutions enhance cyber security in the construction industry.
eSUB provides all these types of protection for its clients and more.
When using eSUB’s subcontractor management software, the data is completely secured and encrypted before being uploaded to the cloud. Additionally, the system itself is built in such a way that it provides access to only those authorized to view the information. eSUB also has a firewall in place that has been implemented within the system and works to secure client data. With its technologically advanced solutions, the eSUB project management software is the solution to use when considering cyber security in the construction industry.
JB Knowledge & Swiss Re Corporate Solutions