The combination of labor shortages and cost increases for raw goods is having an impact on the construction industry, particularly commercial and industrial projects. Labor shortages inevitably result in higher wages and increases in administrative costs for contractors and subcontractors. Combine that with price increases for materials, equipment, and long lead times, and you have a recipe for project overruns or even contractors who cannot complete a bid award. Read More
Any facilities director or CFO who has been involved in a construction project has concerns about cost overruns and budget pressures. When performed independently, the disconnect between design and construction can often lead to schedule delays and change-orders. Fortunately, we have seen an increasing trend of owners, facilities professionals and public agencies getting specialized expertise involved early in the scope and RFP (Request for Proposal) development process, which helps define the scope appropriately, and in doing so, reduce the potential for cost overruns. Read More
While many owners and contractors are familiar with pre-bid meetings, pre-bid conferences are less common… but have the potential to be even more important to the ultimate success of a project. Read More