Improving Project Efficiency in the New Year

Increase productivity, lower costs + reduce waste High inflation and labor shortages is a major challenge for many industries, and no more so than in the construction & engineering sector, where productivity has historically always been low. Should you increase revenue? Difficult, especially in a competitive bidding environment. So, can you reduce costs? Kenny Ingram, vice president of construction and engineering, IFS, argues that C&E firms can improve project efficiency by increasing productivity, lowering costs and reducing waste. And it’s not all just about tackling labor issues – that’s just one interrelated issue, as he explains. The construction industry has … Read more

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Inflation + Labor Shortages Weigh Down Construction Industry in 3rd Quarter, Finds Marcum Index

The Marcum Commercial Construction Index for the third quarter of 2021 reports that the construction industry’s recovery slowed during the summer in the face of labor shortages and rising material prices. Nonresidential construction spending remains 10.7% below January 2020 levels, but is 1.3 lower than it was one year ago. The index is produced by Marcum’s National Construction Services group. “The nonresidential construction segment added 33,000 net new jobs in October 2021 and supports 46,500 more jobs than it did in October 2020,” said Anirban Basu, Marcum’s chief construction economist and author of the report. “But a majority of that … Read more

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