Inflated costs, crunched schedules and materials delays are driving a greater interest in alternative project delivery methods, firms say—which is reflected in last year’s rise in design-build and construction management-at-risk revenue.
As economic uncertainty swirls around the Capitol Hill debt limit negotiations, some Top 400 contractors are worried about reaching the limit of their ability to keep projects profitable.
With a hawkish Federal Reserve pushing higher interest rates to fight inflation, the design market could be a canary in a coal mine for what some economists say will be a “mild” recession later this year.
In an increasingly complex global construction market, Top 250 firm executives say owners are placing a greater emphasis on meeting basic project goals—delivered on time, under budget and at promised value.