Construction companies must be very deliberate about the jobs they bid on and shouldn't bid on every job, contends Allen Crowley of On Center Software. Companies often benefit from specialization, he says, noting that construction software can help with some of the estimating process.
The construction industry can better keep up with the increased pace of US construction if contractors and owners work to align their interests. Clear objectives and a well-defined structure must be established to get projects started on the right note, according to Tim East, director of risk management for The Walt Disney Co.
Contractors can ask their insurers for help in improving safety and managing loss control. Among the ways insurers can further help enhance health and safety are to collaborate on new technologies for worker training and to offer their services to trade contractors, a construction insurance executive writes.
Building information modeling is one of the top five trends transforming the construction industry with its ability to eliminate errors and integrate design changes in a timely fashion. The other current trends are prefabrication, 3D printing, industry consolidation and green construction.
Construction companies may have strict and well-observed safety rules but could still lack plans for a crisis. Susan Shelby and Peter Hillan explain how to prepare for the inevitable by spelling out potential risks as well as roles, protocols and communications processes to provide for rapid and ethically sound responses in these challenging situations.
Local hiring requirements in construction contracts have become scarce in areas such as New York City due to a shortage of skilled workers, according to Andrew Richards, chair of Kaufman Dolowich Voluck's construction practice group. Contractors who bid on projects with local hiring requirements may be best served to build the requirements into their bids to protect themselves against unexpected losses, said construction law expert Julian Anderson.
The Associated General Contractors of Georgia recently held its annual Skills Challenge, in which about 70 youths showcased their construction skills. The event is designed to help promote careers in the skilled trades.
A New York City interactive Department of Buildings website called the NYC Construction Dashboard shows the city issued a record 88,838 construction permits over the past six months. With 13,098 permits this year, Midtown below Central Park has had the most construction projects.
Apartment REITs including UDR, AvalonBay Communities and Preferred Apartment Communities plan to scale back their construction pipelines in expectation of 2018's projected peak in multifamily deliveries. The 2018 Dodge Construction Outlook forecasts that apartment starts will drop by 11% next year.
Each year around this time, AGC asks you -- our members -- to predict what next year will be like for your business. This year AGC has partnered with Sage to prepare questions that focus on expectations for market performance, hiring, labor market conditions, etc. Please take a moment to complete the survey at 2018 Construction Industry Hiring and Business Outlook.